It's taking some Canadian renters an absurd amount of time to find a home

Some Canadian renters have to spend an absurd amount of time to find a place to rent in a tight, supply-constrained rental market.

According to some new data from Rentals.ca, the lengths some renters have to go to find a place in BC, Alberta, and Ontario sometimes take half a year.

It’s data that represents housing woes for many Canadians struggling to find a place to live, with demand outpacing supply.

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Over 600 prospective renters were part of an inaugural survey from Rentals.ca.

First-time renters comprise 26% of the participants, and some responses highlight the struggles experienced by someone who has never rented.

Among the respondents, 34% told Rentals they’d been looking for a place for at least two months, and 15% were looking for more than six months.

Rentals.ca blames supply issues, which have impacted Ontario and BC the most.

Meanwhile, Alberta is getting an influx of people struggling to find places in BC and Ontario.

“Alberta continues to experience high levels of interprovincial migration, adding to the increase in demand for the province.”

Rentals.ca

Rentals.ca also looked at why people are moving or finding new places to rent.

“We found that 69% of respondents highlighted the unaffordability of rentals in their region as their reason for moving, With 19% of survey participants indicating their interest in moving to a new city for their next home.”

The survey also revealed that more renters are prioritizing price over location.

One of the critical concerns for respondents, which likely represents concerns for Canadian renters nationwide, is a shortage of limited options for affordable rentals.

It’s a sentiment that has been shared by many on social media.

Me trying to find an affordable place to rent in Vancouver… 😵‍💫 https://t.co/GjQQ5weiHH

— Alicia Elgert (@elgert_alicia) January 27, 2024

My wife has colleagues that have offered to help pay for a basement reno so they can rent it out. They can’t find a place to live.

My local pub that Ive patroned for 12 yrs has shut down. I could go on and on.

This isnt the Canada I grew up in and bragged to people about.

/end

— MeanwhileInCanada🇨🇦 (@MeanwhiIeCanada) March 22, 2024

Are supply woes leading to struggles in finding a place for you? Let us know in the comments.