Rising Rents Outpace Wages, Forcing More Canadians to Turn to Roommates
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Average rent for a 1-bedroom apartment in Canada hit $1,889 in September, up 10% year-over-year, while wages only rose 5%.
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Households with roommates accounted for just 4% of total households in 2021, but grew 54% that year as sharing became more common.
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Living with family or moving to cheaper locations can help with unaffordable housing, but roommate sharing is increasing.
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High housing costs are becoming normalized, so more roommate sharing is expected in the future.
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Ten years from now, will only affluent singles be able to afford living solo as housing costs keep rising?