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The world is evolving. People are living longer than ever before — statistics show that by the year 2041, there will be more than 16 million Canadian seniors — that’s 25% of the population! In today’s age, there are more people over the age of 55 than there are children.
As industry professionals, we need to understand how to meet these evolving needs. How can we better understand the requirements we need for seniors? How about a guide to start. CMHC has released and updated edition of a key guide to this unique market insight:
Housing for Older Canadians: Understanding the Market
Who are “older Canadians?”
Canadians are living longer than ever before.
It’s true. “Older Canadians” — anyone living in Canada who is 55 years of age or older — represents an incredibly diverse group of people. People with a wide range of needs and resources. Consider this:
- Some older Canadians are still working full- or part-time.
- Some are empty nesters who are looking to downsize.
- Others are retired, about to retire, or live in nursing homes or long-term care.
It’s difficult to make any useful generalizations about them.
In general, today’s older Canadians are healthier and better off financially than past generations. However, they can also have wide variations in their health, income and financial security.
As our population ages, our housing industry will need to provide a wider range of housing supports, services and options.
| Age group | 2006 | 2011 | 2016 | 2021 | 2026 | 2031 | 2036 | 2041 |
|---|---|---|---|---|---|---|---|---|
| 55 to 64 years | 3,674 | 4,393 | 4,911 | 5,277 | 5,031 | 4,746 | 4,902 | 5,238 |
| % of population | 11.6% | 13.1% | 14.0% | 13.9% | 12.7% | 11.5% | 11.4% | 11.8% |
| 65 to 74 years | 2,288 | 2,675 | 3,393 | 4,067 | 4,604 | 4,936 | 4,745 | 4,521 |
| % of population | 7.2% | 8.0% | 9.7% | 10.7% | 11.6% | 11.9% | 11.1% | 10.2% |
| 75 to 84 years | 1,526 | 1,625 | 1,772 | 2,147 | 2,766 | 3,346 | 3,854 | 4,183 |
| % of population | 4.8% | 4.9% | 5.0% | 5.7% | 7.0% | 8.1% | 9.0% | 9.4% |
| 85+ years | 521 | 646 | 771 | 883 | 1,011 | 1,257 | 1,650 | 2,034 |
| % of population | 1.6% | 1.9% | 2.2% | 2.3% | 2.5% | 3.0% | 3.8% | 4.6% |
| 55+ years | 8,010 | 9,338 | 10,846 | 12,374 | 13,411 | 14,285 | 15,151 | 15,976 |
| % of population | 25.3% | 27.9% | 30.9% | 32.6% | 33.8% | 34.5% | 35.3% | 36.0% |
| 65+ years | 4,335 | 4,945 | 5,936 | 7,097 | 8,380 | 9,539 | 10,249 | 10,738 |
| % of population | 13.7% | 14.8% | 16.9% | 18.7% | 21.1% | 23.1% | 23.9% | 24.2% |
| 75+ years | 2,047 | 2,270 | 2,542 | 3,030 | 3,777 | 4,603 | 5,504 | 6,217 |
| % of population | 6.5% | 6.8% | 7.2% | 8.0% | 9.5% | 11.1% | 12.8% | 14.0% |
| All ages | 31,613 | 33,477 | 35,152 | 37,998 | 39,727 | 41,373 | 42,903 | 44,353 |
| % of population | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% |
Source: Statistics Canada
Demographic and geographic trends
The aging of Canada’s population suggests the demand for seniors' housing will be strong for decades to come. National averages only tell part of the story.
Each region has its own unique demographic trends that are driving the demand for seniors’ housing. For example:
- Ontario and Quebec have the largest number of older Canadians. There are more than 4 million seniors in Ontario and 2.7 million in Quebec. In both provinces, 1 in 3 people are deemed senior.
- Alberta has the lowest percentage of older adults (24.6%). It also has fastest rate of growth of seniors (48.1% between 2006 and 2016).
- Senior populations in British Columbia, Saskatchewan and Manitoba grew by 25% to 38.3% between 2006 and 2016.
- The Atlantic provinces have the highest percentage of seniors in Canada, at 35% of their total population.
- Nunavut and the Northwest Territories have the smallest percentages of seniors, at 10.9% and 19.4%. They are also seeing some of the fastest growth in older populations.
| Province/Territory | 2006 | 2011 | 2016 | |||
|---|---|---|---|---|---|---|
| Newfoundland and Labrador | 139,800 | 27.4% | 163,890 | 31.9% | 186,130 | 35.6% |
| Prince Edward Island | 37,625 | 27.3% | 43,550 | 31.1% | 49,725 | 34.7% |
| Nova Scotia | 258,010 | 28.0% | 290,755 | 31.5% | 330,285 | 35.5% |
| New Brunswick | 202,405 | 27.3% | 237,650 | 31.6% | 268,580 | 35.8% |
| Quebec | 2,032,715 | 26.6% | 2,349,795 | 29.7% | 2,694,335 | 32.8% |
| Ontario | 3,005,695 | 24.5% | 3,508,600 | 27.3% | 4,087,265 | 30.3% |
| Manitoba | 287,370 | 24.4% | 321,115 | 26.6% | 363,840 | 28.1% |
| Saskatchewan | 251,255 | 25.4% | 280,695 | 27.2% | 314,535 | 28.5% |
| Alberta | 676,380 | 20.3% | 821,670 | 22.5% | 1,001,990 | 24.6% |
| British Columbia | 1,104,815 | 26.3% | 1,303,090 | 29.6% | 1,527,995 | 32.7% |
| Yukon | 5,915 | 17.6% | 7,990 | 23.6% | 9,780 | 27.0% |
| Northwest Territories | 5,320 | 9.1% | 6,470 | 15.6% | 8,150 | 19.4% |
| Nunavut | 2,445 | 8.3% | 3,105 | 9.7% | 3,745 | 10.4% |
| Canada | 8,009,735 | 25.2% | 9,338,370 | 27.9% | 10,846,385 | 30.7% |
Source: Statistics Canada
Get more details and learn more how the housing industry is evolving to include seniors' housing.
