Hamilton Residents Under 30 Are The Least Likely To Own A Home In All Of Canada

Toronto isn't doing much better.

Ontario Homeowners Under 30 Are Staying Out Of Hamilton
Konstantin Lobastov | Dreamstime
Contributing Writer

If you're a young person living in Hamilton, good luck trying to buy a home.

According to a new study by credit education company Borrowell, the Ontario city has the lowest rate of homeownership for those between the ages of 20 and 29 in all of Canada. Currently, the average home price for this area is $787,758.

As real estate across the province has become more expensive, Hamilton isn't the only city where young homeowners are having difficulty settling down.

Toronto has an equally low rate of homeownership in the same age group, according to the study, with an average home price of $1,075,636.

The full list of cities with the lowest rates of homeownership for ages 20-29 is as follows:

  1. Hamilton: 0.07 (home price: $787,758)
  2. Vancouver: 0.07 (home price: $1,290,250)
  3. Toronto: 0.07 (home price: $1,075,636)
  4. Victoria: 0.08 (home price: $829,600)
  5. Montreal: 0.08 (home price: $498,900)
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  • Patrick John Gilson

    Contributing Writer

    Patrick John Gilson (he/him) is a Contributing Writer with Narcity Media. He is a pro at ensuring his content is both exciting and tailored to millennials. He specializes in breaking news and investigative stories that require him to be on scene— something he enjoys and thrives in.

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