Canadian net worth figures are usually quoted as an average or a median, and the two can be far apart. This page explains why, using Statistics Canada’s Survey of Financial Security (SFS) for 2023, and shows how wealth is spread across families from the least to the most wealthy. For figures by age group and province, see net worth by age; both pages are part of the financial planning hub.
The average and the median
| All Canadian families (2023) | Net worth |
|---|---|
| Median | $519,700 |
| Average | $995,900 |
The median is the family in the middle: half of families have more, half less. The average adds up everyone’s net worth and divides by the number of families, so a small group with very large fortunes raises it well above what a typical family has. That’s why the median is the more useful comparison for most people.
Net worth by fifth of families
Statistics Canada also splits families into five equal groups (quintiles), ranked by net worth. The gaps between groups are large:
| Group | Median net worth | Average net worth | Share of all family wealth |
|---|---|---|---|
| Lowest 20% | $12,800 | $11,200 | 0.2% |
| Second 20% | $174,300 | $181,500 | 3.6% |
| Middle 20% | $519,700 | $525,800 | 10.6% |
| Fourth 20% | $1,078,600 | $1,100,100 | 22.1% |
| Top 20% | $2,488,700 | $3,160,700 | 63.5% |
Source: Statistics Canada, table 11-10-0049-01, Survey of Financial Security, 2023 (in 2023 dollars). Share = the group’s total net worth divided by the total for all families.
The median family in the top 20% has $2,488,700. That figure is the middle of the group, not the point where it starts; Statistics Canada doesn’t publish the dividing lines between groups.
The very top
Surveys tend to under-count the wealthiest families, who are few and less likely to respond. The Parliamentary Budget Officer (PBO) builds a separate estimate that adjusts for this. For 2023, it estimates:
- A family needed at least $7.4 million in net wealth to be in the top 1%, a group of about 169,400 families.
- The top 1% held 24% of all family net wealth, the top 10% held 53%, and the top 20% held 69%.
The PBO’s top-20% share is higher than the SFS figure in the table above because of that adjustment; the two sources measure the same thing in different ways.
What counts toward net worth
Net worth is everything a family owns minus everything it owes. In the SFS, assets include the market value of the home and other property, the value of employer pension plans, registered accounts (RRSP, RRIF, TFSA), other savings and investments, vehicles and business equity; debts include mortgages, lines of credit, credit card balances, student loans and vehicle loans. To add up your own, use the net worth calculator, then see where it ranks with the net worth percentile calculator. The debt side is broken down on average household debt.
Related reading
Sources
The figures and rules on this page come from these sources, last checked against them on September 25, 2026. How we check facts.
- Parliamentary Budget Officer: PBO releases new report on wealth trends in Canada
- Statistics Canada: Assets and debts held by economic family type, by age group, Canada, provinces andβ¦