Office towers, condos and apartment buildings in Vancouver in 2023. New survey data suggests it is increasingly difficult to limit rental expenses to one-third of income.

Roughly half of young renters and a third of tenants at all ages are spending the majority of their after-tax income on rent, according to a new report.

Experts say the survey, which was published by Rentals.ca this week, shows that the adage of limiting your rental expenses to one-third of your income is simply no longer possible for many Canadians – a situation that could threaten the ability of renters to adequately save for retirement.

“It’s a benchmark that young renters are taught by their parents, or many financial advisers say is the amount you should spend for housing,” said Giacomo Ladas, a spokesperson for

See Full Page