What do Ontario's tenant demographics look like?

The Ontario rental market is complex and dynamic. Demographics are changing, and migration patterns in Ontario are shifting with evolving housing needs. Understanding tenant demographics in 2024 is important to landlords and property managers alike.

At Royal York Property Management, we know that in order to offer the best housing solutions to our clients, we need to keep up with these trends. Guiding landlords and property managers across Ontario through the complexities of the rental market, we maintain more than 22,000 properties valued in excess of $10.1 billion.

Key Demographic Trends  

Population Growth  

According to the Ontario Demographic Quarterly, Ontario's population continues to grow strongly, with growth due to natural increases and immigration. As of January 1, 2024, the population of this province was 14.8 million residents. In particular, there was a 42.6% one-year increase in non-permanent residents, reaching 1,204,736 people. These new arrivals make a great contribution to shaping the rental market—raising demand for different and affordable housing alternatives.