According to the latest Homeownership and Shelter Costs in Canada report from Statistics Canada, if you own a home, you’re most likely coupled up and getting on in years.
The 2011 data suggests that home ownership rates in the country are relatively stable. Out of 13.3 million households, 9.3 million or 69 per cent own their homes, a number largely unchanged from 2006.
The real split comes with coupling up and family status. For couple-family households, 82.4 per cent owned their own property. Less than half (48.5 per cent) of non-family households owned their home while just over half (55.6 per cent) of single-parent households owned their dwelling.
The lone-parent and non-family households also had to spend more on the roof over their heads than their partnered up peers. They were more likely to pay 30 per cent or more of their total income towards shelter costs, or twice the proportion that couple-family households paid.
The demographic most likely to own their living quarters was the 55 to 64 subset with about 77.1 per cent of primary household maintainers in this group owning their homes. Compare that to the under 35 group, where 46.9 per cent owned their dwellings. However, a good amount of households that bought a home between 2006 to 2011 were among that demographic. During that period, nearly one third, or 31.5 per cent, of households that bought a home had a primary household maintainer under 35 years old.
Though the under 35 set are much more likely to own a condo than other dwelling types, with 19.8 per cent acting as the primary household maintainer, it’s the condos that belonged to primary household maintainers within the 65 plus demographic that were the greatest. They had a 26.1 per cent hold on condo ownership compared to 20.7 per cent for other dwelling types.
Unsurprisingly, non-family households were more likely to own a condo: they made up 45.5 per cent of condo owners. Households made up of couples with or without kids were the second largest group of condo owners at 42.3 per cent.
For more information check out the table below…