Young renters in Vancouver are the least happy British Columbians: survey

If you want to be happier, be older and maybe live outside of Metro Vancouver.

Recent survey results from Statistics Canada show young people struggling with Lower Mainland rents are much less likely to feel satisfied with their lives compared to people elsewhere in B.C.

“From 2021 to 2023, people living in … Vancouver were less likely to report a strong sense of belonging to their community when compared with those living in the rest of … British Columbia,” reads a release from StatCan.

They are also less likely to report “high life satisfaction,” significantly less likely to report good mental health, and are less likely to feel hopeful about the future than residents of other parts of the province.

The report also suggests renters and younger people are more apt to report a lower quality of life than older British Columbians.

“Younger Canadians tend to face greater challenges than older age groups when it comes to shelter costs,” reads the report. “Nearly two-thirds of Canadians aged 15 to 29 rented their home, and they spent more of their income on shelter costs than did Canadians in the older age groups.”

StatCan says when younger Canadians do own their home, they’re much less likely to have paid off their mortgage than Canadians aged 55 and over, leaving them more vulnerable to interest rate hikes that increase their mortgage payments.

The data was collected through various reports from Statistics Canada in 2021, 2022 and 2023, including the Canadian Social Survey.

-With files from The Canadian Press