The median net worth of Canadian families is $519,700 as of 2023. The average net worth is $995,900 — significantly higher than the median because a small number of extremely wealthy households skew the average upward. Enter your net worth in the calculator below to see where you rank nationwide.
Last updated: May 18, 2026. Data source: Statistics Canada, Survey of Financial Security (SFS), 2023.
Want to compare income rankings too? Use the Canada income percentile calculator. For a US comparison, see the US net worth percentile calculator.
What is net worth?
Net worth is the single most comprehensive measure of financial health. It is calculated as total assets minus total liabilities:
- Assets: home equity, RRSP balance, TFSA balance, FHSA balance, non-registered investment accounts, savings, vehicles, business equity, and other property
- Liabilities: mortgage balance outstanding, student loans, credit card debt, auto loans, lines of credit, and any other money owed
For example, a Canadian family with a $600,000 home (with a $350,000 mortgage remaining), $120,000 in RRSP accounts, $40,000 in a TFSA, a $15,000 car, and $5,000 in savings has assets of $780,000 and liabilities of $350,000, giving a net worth of $430,000 — placing them around the 45th percentile nationally.
Net worth percentile distribution in Canada
The median Canadian family net worth of $519,700 represents the 50th percentile — the point at which exactly half of Canadian families have more and half have less. The gap between the median ($519,700) and the average ($995,900) illustrates how wealth is concentrated at the top: the highest quintile alone holds a disproportionate share of total Canadian household wealth.
| Percentile | Approximate Net Worth (CAD) |
|---|---|
| 10th | $12,800 |
| 25th | $118,000 |
| 50th (median) | $519,700 |
| 75th | $1,339,000 |
| 90th | $2,488,700 |
| 95th | $4,300,000 |
| 99th | $9,200,000 |
Source: Statistics Canada, Survey of Financial Security, 2023.
Net worth by quintile in Canada
Statistics Canada publishes net worth data grouped into quintiles (fifths of the population). This table shows the median and average net worth for each quintile:
| Quintile | Median Net Worth | Average Net Worth |
|---|---|---|
| Bottom 20% | $12,800 | $11,200 |
| 20th to 40th | $174,300 | $181,500 |
| Middle (40th to 60th) | $519,700 | $525,800 |
| 60th to 80th | $1,078,600 | $1,100,100 |
| Top 20% | $2,488,700 | $3,160,700 |
Source: Statistics Canada, Survey of Financial Security, 2023.
Net worth by age in Canada
Net worth increases significantly with age as Canadians accumulate home equity, RRSP contributions, and investment growth over their working lives. The table below shows median net worth by age group of the major income recipient in the household:
| Age Group | Median Net Worth |
|---|---|
| Under 35 | $159,100 |
| 35 to 44 | $409,300 |
| 45 to 54 | $675,800 |
| 55 to 64 | $873,400 |
| 65 and older | $738,900 |
Source: Statistics Canada, Survey of Financial Security, 2023.
The decline after age 65 reflects decumulation — retirees drawing down RRSP and investment accounts to fund living expenses. A 35-year-old with $200,000 in net worth is well above the median for their age group, while the same amount at age 55 would be significantly below.
Worked example: 40-year-old in Ontario
Consider a 40-year-old homeowner in Ontario earning $95,000 per year:
- Home value: $750,000; mortgage balance: $480,000 — home equity: $270,000
- RRSP: $85,000
- TFSA: $35,000
- Vehicle: $18,000; auto loan: $9,000 — vehicle equity: $9,000
- Savings account: $12,000
- Credit card balance: -$2,000
Total net worth: $409,000 — roughly the 45th percentile nationally and close to the median for the 35 to 44 age group ($409,300).
Net worth by province in Canada
Real estate values drive large differences in net worth across provinces. British Columbia and Ontario — where home prices are highest — have the highest median net worth figures, while Atlantic provinces have significantly lower medians.
| Province | Median Net Worth | Average Net Worth |
|---|---|---|
| British Columbia | $773,500 | $1,265,400 |
| Ontario | $665,600 | $1,165,400 |
| Alberta | $457,100 | $942,800 |
| Prince Edward Island | $399,800 | $681,100 |
| Saskatchewan | $394,600 | $824,800 |
| Manitoba | $386,300 | $746,400 |
| Quebec | $371,000 | $752,400 |
| Nova Scotia | $354,600 | $681,700 |
| Newfoundland and Labrador | $333,500 | $664,800 |
| New Brunswick | $286,200 | $506,400 |
Source: Statistics Canada, Survey of Financial Security, 2023.
A family with $500,000 in net worth is above the provincial median in every province except British Columbia and Ontario.
How Canadian net worth compares to the US and UK
Canadian median family net worth ($519,700 CAD, approximately $380,000 USD) is substantially higher than the US median household net worth ($192,084 USD as of 2023). This difference is largely driven by Canadian homeownership rates and home equity appreciation, particularly in BC and Ontario. However, the US has greater top-end wealth concentration, with the US top 1% threshold (approximately $13.7 million USD) substantially higher than Canada’s (approximately $9.2 million CAD).
For a direct comparison, see the US net worth percentile calculator and the UK net worth percentile calculator.
How to build net worth in Canada
The key levers for growing net worth in Canada are the same as anywhere, but Canadian tax-advantaged accounts offer powerful tools:
- TFSA: Contribute up to the annual limit ($7,000 in 2026). Growth and withdrawals are completely tax-free. Unused room carries forward indefinitely.
- RRSP: Contributions reduce taxable income now; withdrawals are taxed in retirement. Contribution limit is 18% of prior year earned income, up to $32,490 in 2026.
- FHSA: First Home Savings Account allows first-time buyers to contribute $8,000 per year (lifetime maximum $40,000) with a full tax deduction and tax-free withdrawal for a qualifying home purchase.
- Home equity: For most Canadian families, home equity is the largest single component of net worth. Paying down mortgage principal directly increases net worth.
Net worth milestones by decade
| Age | 25th Percentile | Median | 75th Percentile |
|---|---|---|---|
| Under 35 | ~$30,000 | $159,100 | ~$350,000 |
| 35 to 44 | ~$100,000 | $409,300 | ~$800,000 |
| 45 to 54 | ~$200,000 | $675,800 | ~$1,300,000 |
| 55 to 64 | ~$300,000 | $873,400 | ~$1,700,000 |
| 65 and older | ~$250,000 | $738,900 | ~$1,500,000 |
Source: Statistics Canada, Survey of Financial Security, 2023. 25th and 75th percentile figures are interpolated from quintile data.
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