PEI Average and Median Income by Individual and Household

Updated

Income in Prince Edward Island varies based on factors like education, experience, occupation, and whether you live in Charlottetown or in rural areas of the island. PEI has historically had lower average incomes compared to the national average, though the gap has been narrowing as the province’s economy diversifies beyond its traditional agriculture, fishing, and tourism sectors.

In this article we break down the average and median individual income, household income, and income by age group for PEI residents.

Average individual income in PEI

The average individual income in PEI is $41,600 before tax. The average after-tax income is approximately $35,100 and the average individual income tax paid is roughly $6,500.

The median individual income in PEI is $33,800 which is significantly lower than the average, indicating that higher earners pull the average upward. The median is often a more representative measure of what a “typical” PEI resident earns.

How PEI individual income compares nationally

Metric PEI Canada
Average income $41,600 $57,100
Median income $33,800 $43,100
Average after-tax income $35,100 $48,100

PEI’s average income is approximately $15,500 below the national average. However, PEI’s significantly lower cost of living — particularly for housing — means that purchasing power can be comparable to higher-earning provinces with more expensive living costs.

To see exactly where your income ranks, use the Canada income percentile calculator.

Average income in PEI by age

Income in PEI varies significantly by age group, following the typical Canadian pattern where earnings peak between ages 45 and 54:

Age Group Average Income Median Income
25 to 34 $40,200 $36,500
35 to 44 $50,800 $43,200
45 to 54 $53,600 $43,800
55 to 64 $46,500 $36,000
65+ $34,800 $26,400

Peak earning years in PEI are 45 to 54 where the average income reaches $53,600. After age 55, incomes begin to decline as workers transition toward retirement. For those approaching retirement, the RRSP guide and CPP guide are valuable resources for planning.

Average household income in PEI

The average household income in PEI is $80,200 before tax. The average after-tax household income is approximately $65,800 which means the average household on PEI pays roughly $14,400 in income tax.

Households in PEI typically consist of dual-income earners, which is why the household average is nearly double the individual average. The province’s lower housing costs make dual-income households in PEI relatively well-positioned compared to those in expensive urban centres.

Median household income in PEI

The median household income in PEI is $62,500. The after-tax median household income is approximately $54,200 which means the median household pays about $8,300 in income tax.

The gap between the average ($80,200) and median ($62,500) household income illustrates that higher-income households significantly raise the average. The median provides a better picture of what a typical PEI household earns.

Metric Amount
Average household income $80,200
Median household income $62,500
Average after-tax household $65,800
Median after-tax household $54,200

What is a good salary in PEI?

Whether a salary is “good” in PEI depends heavily on your location and lifestyle. Given that the average individual income is $41,600:

  • $40,000-$50,000 — a moderate income that provides a comfortable lifestyle in most PEI communities
  • $50,000-$70,000 — an above-average income that allows for savings and homeownership in Charlottetown
  • $70,000+ — a high income by PEI standards, putting you well above the provincial average

PEI’s housing market is considerably more affordable than Toronto, Vancouver, or even Halifax. The average home price on PEI is approximately $350,000-$400,000 making homeownership achievable on moderate incomes. See the PEI mortgage affordability calculator for details.

For broader salary comparisons, see the is $50,000 a good salary and is $60,000 a good salary guides.

PEI income compared to other Atlantic provinces

Province Average Individual Income Median Individual Income
Nova Scotia $44,200 $35,100
New Brunswick $44,300 $35,200
PEI $41,600 $33,800
Newfoundland $44,600 $34,400

PEI has the lowest average income among Atlantic provinces but the difference is modest. When factoring in PEI’s lower provincial sales tax (15% HST, same as NB and NS) but lower housing costs, the real income gap is smaller than the numbers suggest.

Understanding PEI taxes on your income

PEI has five provincial tax brackets with rates ranging from 9.65% to 18.75%, plus a surtax on higher earners. Combined with federal tax, the marginal rates range from about 24.65% to 51.75%.

Key tax considerations for PEI residents:

  • Basic personal amount: PEI’s basic personal amount means the first ~$12,750 of income is essentially tax-free at the provincial level
  • PEI sales tax credit: Low and moderate-income residents receive a refundable credit
  • RRSP contributions are particularly valuable for PEI residents in higher brackets — see the RRSP guide
  • Use the PEI hourly to salary calculator to see your after-tax income at any wage level

For specific salary-after-tax breakdowns, check the salary after tax guides for common income levels.

Data sources

The incomes listed in this article are based on data released by Statistics Canada in the most recent Canadian Income Survey (CIS) completed for the 2022 year and released on 2024-04-26. Income distribution data comes from the Income Explorer based on the 2021 census which reflects 2020 income.

Frequently asked questions

What is the average income in PEI?

The average individual income in PEI is approximately $41,600 before tax based on the most recent Canadian Income Survey.

What is the average household income in PEI?

The average household income in PEI is approximately $80,200 before tax.

How does PEI income compare to the national average?

PEI’s average individual income of $41,600 is below the Canadian average of $57,100. However, PEI’s lower cost of living, particularly for housing, helps offset this gap.

What is the median income in PEI?

The median individual income in PEI is $33,800 and the median household income is $62,500. The median is often more representative of typical earnings than the average.

Average income in other provinces and territories

Compare the income to Canada's average and median income or other provinces: