Canada’s Rental Affordability Gap

Canada’s avg. rent fell ↓~2% yearly to $2.1K, yet households still spent ~28% of income on housing, showing lower prices alone didn't restore affordability.
Vancouver rents fell ↓~6% and Toronto ↓~5%, yet renters there spent less income on housing than the national norm because household earnings remained stronger.
The bigger pressure point showed up in several secondary markets, where incomes fell ↓~6% to ↓~22% and rent burdens stayed above the national avg.
Risk signals also intensified: national debt collections rose ↑~18% yearly, showing financial strain persisted for renters across Canada even while asking rents moved lower.
Shared living helped many households keep pace, and experts said affordability assessments now need rent, income, credit, employment, and other financial signals together.