Average and Median Income in Prince Edward Island

Prince Edward Island is Canada’s smallest province by both area and population, with an economy anchored by agriculture, tourism, and government. In 2024, PEI’s average individual income was the second-lowest of any Canadian province, at $51,100 against $59,400 nationally.

Income data on this page is from Statistics Canada’s Canadian Income Survey (CIS). Both the individual income figures and the household/family after-tax income figures are from the April 29, 2026 release (2024 reference year), the most recent available.

Average and median income in PEI

Sources: Statistics Canada, Canadian Income Survey, April 29, 2026 release (2024 reference year): Table 11-10-0238-01 (individual total income, all persons aged 15 and over, including those with zero income) and Table 11-10-0190-01 (median after-tax income).

PEI’s average individual income of $51,100 was the second-lowest among the provinces in 2024. Use our salary calculator to see your PEI after-tax take-home pay.

Key industries driving PEI income

• Agriculture: potatoes are a major PEI crop (Alberta produced the most in 2025, 27.1% of the Canadian crop), with agriculture and food processing as major economic drivers. Cavendish Farms is a major employer.
• Tourism — A critical seasonal industry leveraging PEI’s beaches, Anne of Green Gables heritage, and culinary scene
• Fishing and aquaculture — Lobster, mussels, and oyster farming are significant income sources, particularly in rural communities
• Government — Federal and provincial government employment is proportionally large for PEI’s population
• Aerospace: Honeywell, StandardAero in Summerside (formerly Vector Aerospace), and other companies provide higher-paying manufacturing jobs
• Bioscience — A growing sector with companies in pharmaceutical and nutraceutical product development

PEI’s tax environment

• HST of 15%: against 15% in New Brunswick, 15% in Newfoundland and Labrador, 14% in Nova Scotia (since April 1, 2025) and 13% in Ontario
• Provincial income tax rates — a progressive system with multiple brackets
• Real property transfer tax — applies to most property purchases

PEI’s tax burden is broadly comparable to the other Atlantic provinces. Calculate your exact take-home with our income tax calculator.

Cost of living considerations

• HST of 15%: against 13% in Ontario and the 5% GST alone in Alberta, adding to the cost of everyday purchases
• Limited competition — As a small island market, prices for some goods and services can run higher due to less retail competition
• Transportation — Limited public transit outside Charlottetown; car ownership is essential for most residents
• Seasonal income — Many PEI workers in tourism, agriculture, and fishing earn income seasonally, supplemented by Employment Insurance in winter months

How PEI compares to other provinces

In 2024, PEI ranked second-lowest among the provinces on average individual income and third-lowest on median after-tax income (combined), where its $65,900 compares with $64,200 in Nova Scotia and $65,100 in New Brunswick. Use our income percentile calculator to see how your income ranks.

Related tools and resources

• Income Percentile Calculator — See where your income ranks in Canada
• Salary Calculator — Calculate your PEI after-tax pay
• Income Tax Calculator — Estimate your PEI income tax
• PEI Mortgage Rates — Find the best rates
• PEI Housing Market — Current home prices
• Mortgage Affordability Calculator — How much home can you afford