A Map Showing What Size Home Millennials Can Afford Across Canada
Time to move out!
It's not easy being a millennial. On average they make 20% less money than their parents did at their age, they have a harder time finding a job, and most of them can't afford homes.
As if things weren't bad enough, it's actually getting worse every year and the size of the living spaces millennial can afford is getting smaller.
Plus, there is a huge gap between what kind of purchasing power millennials have across Canada when it comes to housing.
On average, millennials make $38,148 a year with an average home buying budget of $203,246. That represents a drop of 16.5% since last year which is leading many to find other ways to afford homes.
Couples pool their money together, they save for longer periods of time, and they're forced to borrow money from their parents. And depending on which province you live, the same amount of money will only get you half the space.
This map shows the average number of rooms millennial can afford in in Canada.