New polling finds most residents believe the city is on the wrong track, with half of young Canadians eyeing the exit
Most Toronto residents believe their city is heading in the wrong direction economically, with affordability concerns so acute that more than a third say they are likely to leave within five years.
A new poll conducted by Ipsos on behalf of the Toronto Region Board of Trade, surveying 801 Toronto adults between July 20 and August 4, 2026, found that 55 per cent of residents believe Toronto's prosperity is on the wrong track. Only 22 per cent said the city is moving forward, compared to 37 per cent who say it is falling behind.
The cost of living dominated respondents' concerns. Seventy-six per cent identified affordability as a top economic challenge, with 53 per cent ranking it as the single most pressing issue facing the city's economy. More than half said it has become harder for people to advance financially in Toronto than it was previously.
Talent flight a growing concern
Three-quarters of respondents said they worry Toronto could lose skilled workers and young professionals to competing cities, and 37 per cent of all residents surveyed said they are likely to leave Toronto within the next five years because of affordability pressures.
That figure climbs significantly among younger cohorts: 52 per cent of Gen Z respondents and 46 per cent of Millennials expressed similar intentions. As wealth professionals across Canada grapple with succession planning and client acquisition, a hollowing out of Toronto's young professional population would reshape the client pipeline for advisors based in the region.
The survey data also reflects a broader national conversation about economic opportunity. Canadians in major urban centres have increasingly cited housing costs and the cost of living as barriers to financial stability — a trend that financial planners across the country are navigating with clients who are reassessing their long-term savings strategies.
Residents demand faster action from city hall
Beyond the economic data, the poll captured a clear appetite for bolder municipal leadership.
Fifty-nine per cent of respondents want city hall to make decisions more quickly, 57 per cent want a greater willingness to try new approaches, and 52 per cent want a stronger focus on economic growth.
The Toronto Region Board of Trade, which commissioned the polling, has long advocated for policy reforms to improve the city's economic competitiveness. The August 2026 results represent some of the most pessimistic public sentiment the organisation has recorded regarding the city's economic trajectory.
For wealth management professionals, the picture the poll paints is one of a client base under financial pressure and, in some cases, reconsidering where they want to live and build wealth.
Advisors who serve younger clients in particular may find affordability conversations moving from background concern to the centre of financial planning discussions. Understanding how urban affordability trends are reshaping client goals is becoming an increasingly relevant part of holistic financial advice in Canada's major cities.
