Nanos survey finds 18-to-34 age group far more stressed about housing costs than older Canadians
Younger Canadians are carrying a disproportionate share of housing-related financial anxiety, even as the broader population shows modest signs of easing concern.
According to Nanos Research, which polled 1,044 Canadians between May 31 and June 2, 2026, nearly three quarters of respondents said they are either not worried or somewhat not worried about meeting their housing costs next month.
But those aged 18 to 34 are more than twice as likely to report worry or some level of worry about paying for housing compared with Canadians 55 and over, at 41.3% versus 18.3%.
Young Canadians are also pessimistic about future homeownership. NerdWallet Canada figures released this week show that 63% of 18-to-34-year-olds feel homeownership is out of reach, roughly double the 31% of those aged 55 and over who said the same.
Market recovery
The timing of the surveys coincides with tentative signs of recovery in the Canadian housing market.
The Canadian Real Estate Association reported this week that national home sales jumped 5.5% on a month-over-month basis in May, with the national average sale price reaching $702,079, the first time the measure has crossed the $700,000 mark in 23 months.
"The national sales increase from April to May was broad-based but driven disproportionately by Ontario, suggesting the HST rebate on new builds may have only briefly drawn the attention of buyers away from the existing home market," said Shaun Cathcart, CREA's Senior Economist.
While house prices may be adding pressure to living costs, a recent report found that rents were falling nationally in May.
But the affordability squeeze is showing up in mortgage data. Every one of the 13 major Canadian cities tracked by Ratehub.ca saw home affordability worsen in May 2026, driven by a combination of rising home prices and a slight increase in the average five-year fixed rate among the Big Five banks.
"Both mortgage rate and home price changes impacted home affordability this month. Home prices were up in the majority of the cities and the average of the Big Five Banks' 5-year fixed rates increased slightly, but enough to have an impact on the income required to buy a home," said Penelope Graham, mortgage expert at Ratehub.ca.
St. John's saw the sharpest deterioration, with buyers needing $2,800 more in annual income to purchase the average home compared to April, while monthly mortgage payments rose by $75. At the other end of the scale, Montreal was the least affected, with the income requirement rising by just $10 and monthly payments up by $1. Graham's advice to those approaching a purchase or renewal is to shop the market now. "As conditions are anticipated to pick up in markets across Canada, it's important to have an idea of how differing price points and borrowing costs may impact your buying budget," she said.
Cost of living
The broader cost-of-living picture remains challenging for many households and the Nanos data shows that 55% of Canadians have been affected by rising prices in some way, whether through cancelling a major purchase (16%), finding it harder to cover basic necessities (16%), or facing both problems simultaneously (23%). That combined figure comfortably outweighs the 41% who say inflation has not presented a significant problem for them.
Close to seven in ten Atlantic residents reported some form of cost-of-living impact, well above the national figure. Conversely, older Canadians are far more insulated, with 54% of those aged 55 and above saying inflation has not been a major issue, compared to just 24% of 18-to-34-year-olds.
Pessimism about future living standards also remains deeply entrenched. Nanos tracking data going back to 2012 shows that 65% of Canadians currently believe the next generation will be worse off than today, with only 9% expecting an improvement. The net score, which subtracts the share expecting a higher standard of living from those expecting a lower one, sits at minus 56.4, close to its worst recorded level.
The NerdWallet Canada data also highlights cost of living issues in relation to homebuying, with nearly a quarter of Canadians saying that living costs that are already too high or unpredictable are a barrier to homeownership, while 18% cited an inability to save a sufficient down payment. By contrast, unease around the US trade situation was cited by just 6%, and concern about job security by 8%.
