Who's renting?
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Lower interest rates, more attractive financing options, and relatively strong economic conditions (until 2008) have encouraged many Canadians to purchase homes in recent years.
Although purchase prices for homes have increased more quickly than rents, fewer Canadians are choosing to rent. About 3 in 10 households rented their place of residence in 2005, down from 4 in 10 households in 1986.
The profile of renters has changed. People in low-income households were more likely to be renters in 2005 than in 1986. Single people, city-dwellers, Quebecers, British Columbians, and younger households (headed by someone aged 35 or younger) are also more likely to be renters.
Couples, people with higher incomes, those living in rural areas, and residents of New Brunswick and Newfoundland and Labrador are more likely to be homeowners.
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