Millennials Twice as Likely as Boomers to Live with Parents

A new Statistics Canada study confirms that millennials are far more likely to live with their parents than baby boomers were at the same age.

In 2021, 16.3% of millennials aged 25 to 39 lived with at least one parent, nearly double the 8.2% of baby boomers in 1991. Gen X, in 2006, sat at 12.2%.

Toronto sees the highest rate, with 26.1% of millennials living at home, compared to 19.3% in Vancouver.

At the same time, fewer young adults are forming families. In 1991, 74.4% lived with a spouse or child-that figure dropped to 62.8% by 2021.

Homeownership among millennials also lags: 49.9% owned a home in 2021, versus 55.9% for boomers in 1991.

A parallel report from the University of Ottawa notes that while incomes rose 76% since 2004, entry-level home prices surged 265%. Economist Mike Moffat warns that even if prices freeze, it would take 25 years to restore the 2004 affordability ratio.