In the next 20 years, between 2.3 million and 6.1 million new households will be created across Canada, according to a recent Canada Mortgage and Housing Corporation (CMHC) forecast.
One person households will predominate; the median age will be older, increasing to between 54.7 and 56.2 years compared to the current relatively youthful 50.9 years.
In total, one third of all Canadian households will be seniors, and of these more than half will be a spry 75 years and older.
Owning a home will continue to be popular, according to the report. CMHC asserts that the annual growth for owner households will be five times that for renter households.