Are Big Canadian Cities Ready For Generation Z? New Study Unveils Findings
A recent report highlights that many big cities in Canada are not meeting the needs and values of the youngest generation of working Canadians, known as Generation Z.?
What's happening?
According to the real estate company Point2 report, these young adults prioritize factors such as the cost of living, work-life balance, and access to mental health services.
The results indicate that Gen Z's values might push them away from large, bustling urban hubs and toward more closely-knit communities.Eight of the top 10 cities competing for Gen Z's hearts have populations below 300,000 and even 200,000.?
Where and when?
The analysis was published on Friday. Aside from Montr¨Śal, none of Canada's large business hubs even made the top 10 cities that scored highest for metrics and are most relevant for Gen Z-ers.
St. John's, N.L., secured the top spot as the city deemed "most ready" for the next generation, boasting an impressive score of 64.90 out of 100.Dubbed the "star city" for catering to the needs of the younger generation, St. John's excelled across various categories that "embody the ideal lifestyle for a Gen Z-er," as stated in the report.
This East Coast city stands out with a monthly cost of living pegged at $1,600, a notable factor contributing to its high ranking. Additionally, St. John's received favourable rankings in the perceived mental health category for individuals aged 12 to 34, further solidifying its status as a top choice for the emerging Generation Z.
Quebec City, Que., secured a close second place with an impressive score of 64.73 out of 100. Following closely behind, Levis, Sherbrooke, Trois-Rivieres, Saguenay, Gatineau, Montreal, and Terrebonne, Que., claimed spots three through nine, earning scores ranging from 63.49 to 56.9. These cities collectively showcase a range of favourable qualities, including a low cost of living per month, a lower home price-to-income ratio, and high perceived mental health ratings.
Notably, all the municipalities featured on the list exhibit these positive attributes, making them appealing options for the younger generation. Regina, Sask., secured the 10th spot on the list, boasting a commendable score of 56.59 out of 100.
Why?
The findings shed light on how well these cities align with the preferences and needs of Generation Z in various aspects of life.
"From financial security and autonomy to easier access to mental health services, Gen Z young adults know what they want and are much less afraid to ask for it than any of the previous generations," the report reads. "They're also less likely to compromise: Millennials' 'nice to haves' are becoming Gen Z's absolute 'must-haves.'"
"Big cities could fall out of grace unless they step up in the areas that are non-negotiable for the youngest generation of workers that's slowly joining the market," the report reads.
Despite cities like Vancouver and Edmonton ranking highest in median incomes and Toronto ranking higher in remote work adoption, the cities had a low score overall.
How?
Point2 collected the information for the study from the 2021 Census reports by Statistics Canada and city-level reports on the community.
The analysis evaluates 50 of Canada's largest municipalities based on 35 metrics across four categories: demographics and education, economy and real estate, community and environment, and health and wellbeing.
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Who are Gen Z-ers?
The Generation Z cohort, born between 1997 and 2012, spans from the current age of 26 to the youngest members just turning 11. Despite being the new kids on the block, the spotlight is on young professionals aged 18 to 26, who will likely already have jobs and ambitious plans for their future.
This dynamic group, totalling around 6.7 million individuals, is making a significant impact as the second-fastest growing generation in Canada.
Known for their willingness to voice their opinions, the priorities of these young professionals could soon shape societal priorities. Furthermore, projections indicate that this generation is set to be the fastest-growing in the near future, underlining its growing influence on various aspects of society.
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