Number of Calgary renter households growing faster than number of owners, says census
CBC
In the last decade, the number of Calgarians who rent their homes has grown much faster than the number of people who own them, according to new census data.
Since 2011, the number of renters in the city has grown 37.3 per cent, while the number of homeowners has grown by about 15.9 per cent.
The situation mimics a national trend where home ownership is becoming gradually less common, especially among young adults.
In 2011, 50.6 per cent of Calgarians between 25 and 29 owned their homes. In 2021, it was about 34.8 per cent.
For Calgarians between 30 and 34, the rate of home ownership dropped from roughly 65.8 per cent to 55.2 per cent.
The cohort between 35 and 39 also saw a dip, from about 71.9 per cent home ownership in 2011 down to 66.5 per cent last year.
Aaron Gorski, an analyst with Statistics Canada, says the trend may, in part, reflect younger people's preference to live downtown — and the type of housing that's being built in urban areas.
"In these downtown areas, you see a lot more condos, a lot more high-rise apartment buildings, and this is going to also, I think, factor into these changing tenure demographics," said Gorski.
He noted that since 2016, the number of condominiums in Calgary has grown by about 19 per cent. According to the latest census, about 43 per cent of the city's condos are rented.
Economics professor Anupam Das believes the trend is largely driven by issues of economic uncertainty and affordability.
"To me, it seems like that it's simply cost-benefit analysis — they do not have enough income to make that long commitment of owning a house," said Das, a professor at Mount Royal University.
That's been the case for both Raelle Chauvin and Heather Gibson.
Chauvin, who works at a Calgary flower warehouse, has looked into buying but doesn't think she'd be approved at her salary unless she was married.
"It's an affordability thing, to rent over buying a home," said Chauvin, 30, who's been paying rent since she aged out of the foster care system as a teenager. She noted housing insecurity is a frequent challenge for former foster care kids.