Back in 2016, more Millennials were living with their parents than their partners. Thanks to COVID-19, that’s probably still true.
According to a recent national survey by Finder.com, one in 10 Canadians (an estimated 2.8 million) say the coronavirus pandemic has changed their living situation. At least 1.5 million of those surveyed say they’ve been forced to move back in with their parents.
And with grim job prospects on the horizon, that probably won’t change anytime soon.
“Between the high cost of rent in Canada’s big cities and a recession with record levels of unemployment, young people trying to launch or grow careers while paying the bills are now faced with challenges that may seem insurmountable, making returning home to their parents the most attractive option for many of Canada’s young adults,” says Scott Birke, publisher at Finder.com.
Unsurprisingly, those on the younger end of the spectrum are most affected. Members of Canada’s youngest generation (aged 18 to 24) are most likely to have already moved home (13%). Men are 21% more likely to move in with their parents compared with women. They’re also 141% more likely to be contemplating moving home.
Also unsurprisingly, provinces with the highest cost of living have seen the most pronounced change in residents’ living situations. Ontario, Quebec and B.C. have seen the most moves. Meanwhile, only 11% of prairie province residents say they are in a new living situation or thinking about it. In the Atlantic provinces, that number is just 5%.
And it’s not just the younger generation moving in with the previous. According to the data, 278,532 Canadians have already moved in with their adult children and another 455,780 are seriously considering it.
Hang in there, everyone.