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In 2026, the number of households in Canada is expected to reach 17.4 million, marking a year-over-year increase of 0.8%. The pace of this growth in the number of households in 2025 reflects ongoing demographic and economic trends, including population growth being offset by continued housing shortages. Persistent demand for housing units is being driven by a preference for living alone and by a growing millennial generation, which is aging into the housing market as first-time buyers. These factors have contributed to a growing number of Canadian households despite elevated interest rates and affordability challenges in the broader housing market.Between 2021 and 2026, the number of households has consistently trended upward. As labour markets recovered in 2021 and 2022, household formation resumed, expanding by 0.5% and 1.9%, respectively. During these years, economic recovery allowed more individuals, particularly younger adults, to once again form independent households. Nonfamily households, including those with individuals living alone, have played an increasingly large role in driving overall growth in the number of households.Broader macroeconomic and demographic trends have remained relevant throughout this period. A growing millennial generation, supported by past immigration targets, has driven higher sales of Canadian households. Also, a persistent shift toward smaller living arrangements has raised the total number of households required for the population. Housing shortages and affordability constraints have posed challenges, but not reversed the underlying trend.From 2021 to 2026, the number of households in Canada increased at an average annual rate of 1.7%. This growth reflects a combination of demographic changes, gradual economic recovery, and enduring shifts in living preferences, despite disruptions such as housing market constraints.