Forget big-city life: Smaller Canadian cities more suited for Gen Z to thrive
For Gen Z Canadians, big-city life may seem fast-paced and exciting, but smaller cities provide more stability and a higher quality of life, according to a new report.
Point2Homes released its 2023 City Readiness Index, which analyzed 35 metrics across four categories to see which of Canada’s 50 latest cities had the characteristics that help younger adults flourish. These metrics included local median incomes, cost of living, home price-to-income ratios, and unemployment rates.
It also considered other factors like access to medical and mental health professionals, environmental quality, and entertainment opportunities.
Several smaller Canadian cities dominated the report’s rankings due to affordable housing options, lower cost of living, and better work-life balance, noted the report.
Point2Homes
Saint John’s, New Foundland, was the Canadian city “most ready” for Gen Z, followed by Quebec City, Quebec, and Levis, Quebec.
In fact, cities in Quebec dominated the top-10 ranking, which was rounded out by Regina, Saskatchewan, in 10th place.
Point2Home noted that cities in la belle province scored the highest in categories such as median income, cost of living, and access to health care services.
Aside from Montreal, none of Canada’s other largest urban hubs cracked the top 10.
Vancouver was in 15th place, followed by Calgary in 26th and Toronto in 32nd.
Point2Homes noted Vancouver and Edmonton have the highest median incomes for Gen Z employees, and Toronto ranked high in categories like remote work options and share of people in STEM jobs.
However, Gen Z is looking for the whole package when it comes to their ideal city.
“This change in values and expectations might also come with a change in status quo: Of the five largest metropolitan areas and business hubs that are the current leaders in Canada’s economic landscape — Toronto, Vancouver, Montreal, Calgary, and Edmonton — only MontrĂ©al made it to the top 10 cities that manage to balance what’s important for a Gen Z resident,” noted Point2Homes.
It added that few cities with populations above 500,000 residents are topping the list, indicating that Gen Z prefers smaller communities that are more connected.
So, are big cities facing competition from smaller Canadian cities when it comes to attracting more Gen Z residents?
The short answer is yes, notes Point2Homes.
“As such, big cities could fall out of grace unless they step up in the areas that are non-negotiable for the youngest generation of workers that’s slowly joining the market.”
Follow Channels and Categories