{"id":4510,"date":"2024-11-18T15:04:35","date_gmt":"2024-11-18T19:04:35","guid":{"rendered":"https:\/\/rentals.ca\/blog\/?p=4510"},"modified":"2024-11-27T13:29:24","modified_gmt":"2024-11-27T17:29:24","slug":"renter-preference-survey-fall-update-2024","status":"publish","type":"post","link":"https:\/\/rentals.ca\/blog\/renter-preference-survey-fall-update-2024","title":{"rendered":"Renter Preference Survey: Fall Update 2024"},"content":{"rendered":"<p>In our <a href=\"https:\/\/rentals.ca\/blog\/breaking-ground-unveiling-rentals-inaugural-renter-survey-results\"><span style=\"font-weight: 400;\">Inaugural Renter Preference Survey<\/span><\/a><span style=\"font-weight: 400;\"> from March of 2024, we gathered responses from over 600 renters across Ontario, British Columbia, and Alberta to understand their preferences and challenges. Now, with 1,486 respondents from new regions\u2014including Quebec, Atlantic Canada, and the Prairies\u2014this update expands on our findings to capture emerging trends across Canada.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">By surveying 1,486 renters across the country, including new markets such as Quebec, Atlantic, Canada, and the entire prairie provinces, we&#8217;ve identified key trends shaping the future of rental housing in Canada. From faster move timelines to higher satisfaction, these insights offer a timely look into the country\u2019s rental scene.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><b>Our Sample Size Consists of:<\/b><\/p>\n<p><b>Total &#8211; 1,487<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Alberta &#8211; 289<\/span><\/p>\n<p><span style=\"font-weight: 400;\">British Columbia &#8211; 369<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Quebec &#8211; 64<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Ontario &#8211; 557<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Atlantic Canada &#8211; 38<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Western Canada &#8211; 148<\/span><\/p>\n<p>&nbsp;<\/p>\n<h1><span style=\"font-weight: 400;\">Key National Trends<\/p>\n<p><\/span><\/h1>\n<ul>\n<li aria-level=\"1\"><b>Renter Satisfaction Improves: <\/b><span style=\"font-weight: 400;\">The likelihood of renters recommending their current rental <\/span><b>increased from 25% to 32%<\/b><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">, which is a positive sign to see during peak rental season over the summer months. With move-in incentives increasing in frequency among active listings, renters have the opportunity to reap awards when moving to a new place.\n<p><\/span><\/span><\/span><\/li>\n<li aria-level=\"1\"><b>Reduced Dissatisfaction: <\/b><span style=\"font-weight: 400;\">\u00a0We once again asked renters if they were to recommend their rental property to someone else, to which we saw a reduction from 12% to 5% in those who said they were <\/span><b>unlikely<\/b><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"> to recommend their property.\n<p><\/span><\/span><\/li>\n<li aria-level=\"1\"><b>Quicker Search Times: <\/b><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Renters are spending less time searching for their apartments. The percentage of renters searching for more than two weeks dropped from 57%, all the way to 35%.\n<p><\/span><\/span><\/span><\/span><\/li>\n<li aria-level=\"1\"><b>Renter Profiles<\/b>:\u00a0 42% of respondents answered that they were in a relationship (either married or non-married), and 16% had children. With an increase in demand for two- and three-bedroom rentals as seen on Rentals.ca, larger families continue to make up a high percentage of the marketplace.<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Longstanding trends of declining homeownership and aging first-time buyer profiles are reflected in our data, with renters becoming older, household sizes increasing year over year, and two-bedroom units showing the fastest annual growth rate. These shifts highlight substantial changes in Canadian rental markets this year.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h1><span style=\"font-weight: 400;\">Provincial Breakdown<\/span><\/h1>\n<h1><span style=\"font-weight: 400;\">\u00a0<\/span><\/h1>\n<p><span style=\"font-weight: 400;\">Our ongoing efforts to increase the survey&#8217;s reach have allowed provincial insights to emerge across the country. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<h4><b>British Columbia: Faster Decisions<\/b><\/h4>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">B.C. renters are making quicker decisions, with search durations over two weeks dropping from 20% to 7% and planned moves within two months also falling from 32% to 20%. Check out our<\/span><a href=\"https:\/\/rentals.ca\/national-rent-report\"> <span style=\"font-weight: 400;\">monthly rent report<\/span><\/a><span style=\"font-weight: 400;\"> to see how prices are influencing search speeds in B.C.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-4513\" src=\"https:\/\/rentals.ca\/blog\/wp-content\/uploads\/2024\/11\/Renter-Survey-Renter-Search-Duration-1.png\" alt=\"\" width=\"794\" height=\"448\" srcset=\"https:\/\/rentals.ca\/blog\/wp-content\/uploads\/2024\/11\/Renter-Survey-Renter-Search-Duration-1.png 794w, https:\/\/rentals.ca\/blog\/wp-content\/uploads\/2024\/11\/Renter-Survey-Renter-Search-Duration-1-480x271.png 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) 794px, 100vw\" \/><\/p>\n<p>&nbsp;<\/p>\n<h4><b>Alberta, Saskatchewan, and Manitoba: Short-Term Searches on the Rise<\/b><\/h4>\n<h4><\/h4>\n<p><span style=\"font-weight: 400;\">Across the Prairies, short-term searches are gaining popularity. Renters completing their search in less than a week jumped from 4% to 21%, suggesting a high level of motivation or availability of appealing options.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-4515\" src=\"https:\/\/rentals.ca\/blog\/wp-content\/uploads\/2024\/11\/Prairies-Completing-Rental-Search-Under-1-Week-1024x742.png\" alt=\"\" width=\"1024\" height=\"742\" srcset=\"https:\/\/rentals.ca\/blog\/wp-content\/uploads\/2024\/11\/Prairies-Completing-Rental-Search-Under-1-Week-980x710.png 980w, https:\/\/rentals.ca\/blog\/wp-content\/uploads\/2024\/11\/Prairies-Completing-Rental-Search-Under-1-Week-480x348.png 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1024px, 100vw\" \/><\/p>\n<h4><b><br \/>\nOntario: On the Same Page<\/b><\/h4>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Since our last survey, the number of Ontario renters who <\/span><b>strongly agree<\/b><span style=\"font-weight: 400;\"> that we need to build more housing has increased from 28% to 63%. Toronto, specifically, <\/span><a href=\"https:\/\/www.instagram.com\/p\/DCHc8EuxI6z\/?utm_source=ig_web_copy_link&amp;igsh=MzRlODBiNWFlZA==\"><span style=\"font-weight: 400;\">now leads in population loss to other provinces<\/span><\/a><span style=\"font-weight: 400;\">, surpassing all Canadian cities combined. With the city facing an affordability crisis and renter preferences changing to deprioritizing downtown living, Ontario needs a greater supply of affordable housing.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-4516\" src=\"https:\/\/rentals.ca\/blog\/wp-content\/uploads\/2024\/11\/Ontario-Strongly-Agree-Building-More-Housing-1024x742.png\" alt=\"\" width=\"1024\" height=\"742\" srcset=\"https:\/\/rentals.ca\/blog\/wp-content\/uploads\/2024\/11\/Ontario-Strongly-Agree-Building-More-Housing-980x710.png 980w, https:\/\/rentals.ca\/blog\/wp-content\/uploads\/2024\/11\/Ontario-Strongly-Agree-Building-More-Housing-480x348.png 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1024px, 100vw\" \/><\/p>\n<h4><b>Quebec: First-Time Renters Making Moves<\/b><\/h4>\n<h4><\/h4>\n<p><span style=\"font-weight: 400;\">Quebec is experiencing a surge in first-time renters, up from 14% to 36%. Cities like Montreal, with comparatively affordable options, are attracting renters, especially when compared to the cost of purchasing a home.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-4514\" src=\"https:\/\/rentals.ca\/blog\/wp-content\/uploads\/2024\/11\/Quebec-More-First-Time-Renters-2-1024x741.png\" alt=\"\" width=\"1024\" height=\"741\" srcset=\"https:\/\/rentals.ca\/blog\/wp-content\/uploads\/2024\/11\/Quebec-More-First-Time-Renters-2-980x709.png 980w, https:\/\/rentals.ca\/blog\/wp-content\/uploads\/2024\/11\/Quebec-More-First-Time-Renters-2-480x347.png 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1024px, 100vw\" \/><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">As renters navigate the evolving economic landscape and changing housing demands, our survey shines a light on how Canadians adapt in real-time\u2014through faster searches, a growing desire for flexibility, and more housing supply. These insights reflect not just statistics, but the resilient, adaptive spirit of renters nationwide.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Rentals.ca remains dedicated to listening to the voices of renters and landlords alike, providing valuable data that informs the broader housing conversation. We\u2019re here to monitor these trends, support better decision-making, and advocate for an equitable, informed rental market across Canada. With each survey, we deepen our commitment to understanding the needs of Canadian renters and landlords, helping to create a more transparent and responsive market for everyone involved.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In our Inaugural Renter Preference Survey from March of 2024, we gathered responses from over 600 renters across Ontario, British Columbia, and Alberta to understand their preferences and challenges. Now, with 1,486 respondents from new regions\u2014including Quebec, Atlantic Canada, and the Prairies\u2014this update expands on our findings to capture emerging trends across Canada. &nbsp; By [&hellip;]<\/p>\n","protected":false},"author":20,"featured_media":4517,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[5,167,49],"tags":[],"coauthors":[38],"class_list":["post-4510","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-landlords","category-news","category-renters"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Renter Preference Survey: Fall Update 2024<\/title>\n<meta name=\"description\" content=\"In our Inaugural Renter Preference Survey from March of 2024, we gathered responses from 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