How does your net worth compares to your peers? Take a look at what it would take to be considered in the top net worth percentiles in Canada.
Average household net worth
This table breaks down the average household net worth by percentile in Canada. The lowest quintile which represents the bottom 20% have an average net worth of $11,200. While the top 20% or the fifth quintile has an average net worth of $3,160,700.
| Quintle | Average Net Worth |
|---|---|
| 0-20% (Lowest Quintile) | $11,200 |
| 21-40% (Second Quintile) | $181,500 |
| 41-60% (Middle Quintile) | $525,800 |
| 61-80% (Fourth Quintile) | $1,100,100 |
| 81-100% (Fifth Quintile) | $3,160,700 |
If you want to know how your net worth compares to all families across Canada, the average family net worth is $995,900. Those in the top net worth percentiles skew the average net worth higher. The top net worth percentile also holds the majority of the wealth in Canada.
Those in the highest quintile or the top twenty percent hold 64.70% of the wealth in Canada. The fourth highest quintile hold 21.89% of the wealth. While those in the lowest quintile or bottom twenty percent of the population hold -0.04% of the wealth indicating that they have more debt than assets.
If you want to be considered in the top 1% of Canadians by net worth the threshold to join the top one percent is $6.3 million dollars. This is based on the most recent Parliamentary Budget Officer (PBO) report. It is estimated that 160,600 housholds in Canada are in the top one percent.
Average net worth by age
Since wealth is often accumulated over a long period of time, comparing net worth based on age group is a good way to see how your net worth stacks up to your peers.
This chart shows the average net worth by age broken down by the age of the major income recipient.
| Age Group | Average Net worth |
|---|---|
| Under 35 | $337,816 |
| 35 to 44 | $657,582 |
| 45 to 54 | $1,346,291 |
| 55 to 65 | $1,595,886 |
| Over 65 | $1,123,174 |
Average net worth by province
The average net worth in Canada varies based on the province. Many of the provinces that have a higher average income also tend to be the provinces with higher average net worth. The table below shows the average net worth in Canada by province.
| Province | Average Net Worth |
|---|---|
| British Columbia | $1,265,400 |
| Ontario | $1,165,400 |
| Alberta | $942,800 |
| PEI | $681,100 |
| Saskatchewan | $824,800 |
| Manitoba | $746,400 |
| Quebec | $752,400 |
| Nova Scotia | $681,700 |
| Newfoundland | $664,800 |
| New Brunswick | $506,400 |
Median household net worth
The median net worth in Canada by household shows that the bottom 20% of familes have a median net worth of $12,800. It would take a household net worth of $2,488,700 to be in the top 20% of Canadian families.
| Percentile | Median Net Worth |
|---|---|
| O-20% (Lowest Quintile) | $12,800 |
| 21-40% (Second Quintile) | $174,300 |
| 41-60% (Middle Quintile) | $519,700 |
| 61-80% (Fourth Quintile) | $1,078,600 |
| 81-100% (Fifth Quintile) | $2,488,700 |
Median net worth by age
Here is a breakdown of the median net worth based on the income of the major income recipient. Canada provides a net worth breakdown based on these five age groups.
| Age Group | Median Net worth |
|---|---|
| Under 35 | $159,100 |
| 35 to 44 | $409,300 |
| 45 to 54 | $675,800 |
| 55 to 65 | $873,400 |
| Over 65 | $738,900 |
Median net worth by province
This table shows the median net worth by province in Canada. All of the median net worth’s are lower than the average net worth’s in each province. It is really the top one percentile that pulls the average net worth up across all categories.
| Province | Median Net Worth |
|---|---|
| British Columbia | $773,500 |
| Ontario | $665,600 |
| Alberta | $457,100 |
| PEI | $399,800 |
| Saskatchewan | $394,600 |
| Manitoba | $386,300 |
| Quebec | $371,000 |
| Nova Scotia | $354,600 |
| Newfoundland | $333,500 |
| New Brunswick | $286,200 |
Net worth data was taken from Statistics Canada