Experts say the housing market across the Greater Toronto Area (GTA) is becoming increasingly difficult for single-income earners, raising concerns about the long-term future of home ownership in communities including Durham Region.
As housing prices remain high and rents continue to rise, many people living alone are finding it nearly impossible to purchase their first home. Financial pressures from rent payments often make it difficult for individuals to save enough for a down payment, leaving many potential buyers stuck in the rental market.
Real estate experts say the situation is becoming more challenging as the number of single residents in the GTA continues to grow.
According to Joel Fox, founder of the real estate policy group Ownright, the current housing market is shaped by two major trends: rising home prices and an increasing number of people remaining single.
Historically, most homebuyers have been couples with two incomes, which significantly improves their ability to qualify for mortgages and cover housing costs.
However, Fox says the changing social and economic landscape is creating new challenges.
“On one hand, housing prices remain incredibly high across the GTA. On the other hand, you have the rise of single households,” Fox explained. “Couples traditionally have the best chance of buying homes because they combine incomes, but now more people are staying single and that makes entering the market much harder.”
Economic uncertainty, global tariffs, and shifting social priorities have all contributed to a growing conversation about why many younger adults are choosing to remain single longer or delay major financial commitments.
A recent discussion on the online forum Reddit also highlighted the issue, with users debating how the growing number of single residents could reshape the housing market.
Fox notes that current data suggests the number of home purchases in the GTA is about 80 per cent below the typical annual average, particularly among younger buyers.
Many first-time buyers between 25 and 33 years old are hesitant to enter the market because housing prices remain far beyond what a single income can realistically support.
One potential opportunity could come from the large number of condominium units currently available across the GTA skyline, which Fox describes as “boxes in the sky.”
These one-bedroom condos are often designed for single residents or young professionals, but their prices remain too high for many potential buyers.
“What we are seeing is a mismatch between the types of homes available and what people can afford,” Fox said. “These condos would be perfect for single buyers, but even those units are still extremely expensive.”
Some developers have tried to attract renters by offering incentives such as free months of rent or discounted parking, but those efforts have not been enough to significantly improve affordability.
Toronto-based realtor Tom Storey says the difference between single buyers and couples is clear when looking at current market activity.
“I can tell you right now that we’re not working with any single-income buyers who are trying to purchase a freehold home,” Storey said. “Nearly all buyers are couples.”
Many single buyers who do manage to purchase property rely on financial assistance from family members, particularly when it comes to securing a down payment.
Fox believes the housing market may eventually adjust if condo prices begin to reflect what single-income buyers can realistically afford.
However, he notes that this change could take years, especially since many condo units are owned by investors who prefer to wait for higher offers rather than lower prices.
In the meantime, experts say single buyers across the GTA and Durham Region may continue to face significant challenges entering the housing market.
Until affordability improves, many individuals will likely remain renters while waiting for market conditions to shift.
