Beginning in 2020, Ontario experienced a notable trend of people relocating to other parts of Canada, which gained momentum in 2023.

However, a deeper examination reveals a specific demographic leading this exodus: individuals in their twenties, who are predominantly renters.

Last year, there was a significant departure of 14,100 individuals in their twenties from Ontario to other provinces and territories, surpassing the number of those moving in the opposite direction. This figure was at least double the net migration among other age groups.

While it’s not definitively established that high rents are the driving force behind this migration, Ontario hosts eight of the top ten cities with the highest rental prices, according to Rentals.ca, and a majority of individuals in their twenties are renters.

Among those who relocated to different provinces last year, Alberta emerged as the most popular destination, with a net migration of 15,500 individuals. Alberta generally offers lower rents compared to Ontario, although Rentals.ca noted a significant year-over-year increase in rental rates for various types of apartments in January, with a rise of 17.8 percent in the province.

Despite the outflow of young people from Ontario, immigration has been filling the void and then some. Last year, over 40,000 immigrants in their twenties moved to Ontario. Additionally, there has been a surge in international students across the province and the country. Recently, the federal government introduced a two-year cap on the number of international students.

Statistics Canada reports that the influx of young immigrants has skewed the national age demographic younger. Last year, for the first time in 65 years, both the average and median age in Canada slightly decreased, from 41.7 to 41.6 and from 40.9 to 40.6, respectively.