There are over 9 million Millennials in Canada. The majority of Millennials are completing their school and starting their careers. This is the time when they enter the rental or homeownership markets.
Our first guess would be that they are mostly moving to bigger cities like Vancouver or Toronto, but it looks like resident Millenials are looking for more affordable ownership.
Five of the top six destinations for millennials moving within Canada are in Ontario but it looks like Toronto is not one of them.
Ottawa is the top designation, attracting a net 3,100 millennials, followed by Simcoe county, Region of Durham, Halton region and Waterloo.
With the skyrocketing rents and other expenses, the city is becoming progressively less affordable, it’s no surprise the Millenials are opting for other alternatives.