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Changing Patterns in Canadian Homeownership and Shelter Costs, 2006 Census: Housing life cycle

Starting at age 55, mortgage-free homeownership is the most common tenure

For primary household maintainer age groups 55 and over, mortgage-free homeownership was the most common tenure. Of all households with a primary maintainer aged 55 to 64, about 43.6% were mortgage-free owners, 34.0% were owners with mortgages and 22.3% were renters. The proportion of mortgage-free owners rose to 57.6% for households with a primary maintainer aged 65 to 74, and was slightly higher for those with a primary maintainer aged 75 and over.

Similarly, the percentage of mortgage-free households living in condominiums increased with the age of the primary household maintainer. Among the primary household maintainers aged 55 to 64, about 8.1% lived in condominiums mortgage-free. This increased to 11.0% for households with a primary maintainer aged 65 to 74 and to 16.2% for the 75 and over age group.

Census data showed that the share of mortgage-free households in condominiums has grown during the past five years, especially for the oldest households.

In addition to owning mortgage-free, senior households may also be renters. In 2006, 32.2% of households with a primary maintainer aged 75 and over were renting. This was down from 34.0% in 2001.

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