Hamilton is a growing city in Ontario’s Golden Horseshoe region, historically known as “Steel City” and now evolving into a diversified economy. Hamilton offers lower housing costs than neighbouring Toronto while maintaining reasonable access to the GTA job market.
Average and median income in Hamilton
| Metric | Hamilton | Ontario | Canada |
|---|---|---|---|
| Average Household Income | $142,600 | $154,700 | $146,600 |
| Median Household Income | $116,800 | $125,700 | $121,000 |
Source: Statistics Canada, Census 2021 (updated with CIS 2023 trends).
Hamilton’s household income is below both the Ontario and national averages, reflecting the city’s mix of blue-collar manufacturing heritage and growing white-collar sectors.
Income vs. housing affordability in Hamilton
| Metric | Amount |
|---|---|
| Median Household Income | $116,800 |
| Average Home Price | $807,000 |
| Price-to-Income Ratio | 6.9× |
Hamilton’s 6.9× ratio improved from its pandemic-era peak but remains elevated. Many Hamilton residents commute to Toronto for higher-paying jobs while benefiting from lower home prices. Compare to Toronto at 7.6× or Ottawa at 4.8×.
How Hamilton compares to other Ontario cities
| City | Average HHI | Median HHI | Avg Home Price | Ratio |
|---|---|---|---|---|
| Toronto | $163,100 | $131,900 | $1,009,000 | 7.6× |
| Ottawa | $158,200 | $131,500 | $630,000 | 4.8× |
| Hamilton | $142,600 | $116,800 | $807,000 | 6.9× |
| London | $126,500 | $103,200 | $584,000 | 5.7× |
Use our mortgage affordability calculator to see what you can afford.
Key industries driving Hamilton income
- Steel and manufacturing — ArcelorMittal Dofasco and Stelco are major employers, with advanced manufacturing expanding into aerospace and automotive parts
- Healthcare — McMaster University Medical Centre, Hamilton Health Sciences, and St. Joseph’s Healthcare create a major healthcare employment cluster
- Education — McMaster University and Mohawk College
- Life sciences — A growing biotech and pharmaceutical sector clustered around McMaster’s research facilities
- Logistics and port — Hamilton’s port and proximity to major highways support warehousing and distribution
- GTA commuter economy — Many Hamilton residents work in Toronto’s financial and professional services sectors, commuting via GO Transit
Rental affordability in Hamilton
Hamilton’s rental market has tightened as Toronto spillover demand has increased competition:
| Housing Type | Average Monthly Cost | % of Median HHI |
|---|---|---|
| 1-Bedroom Apartment | $1,550 | 15.9% |
| 2-Bedroom Apartment | $1,850 | 19.0% |
| 3-Bedroom House Rental | $2,300 | 23.6% |
| Average Home Mortgage (20% down) | ~$3,710 | 38.1% |
Hamilton rents are 20–30% below Toronto levels, but the mortgage-to-income ratio is stretched at 38% of median household income — well above the 30% affordability threshold. This disconnect between rental and ownership costs partly explains why many Hamilton residents rent rather than buy.
Take-home pay: Hamilton vs. Toronto
Since both cities are in Ontario, the tax rates are identical — the key difference is housing cost:
| Income Level | After-Tax Pay (ON) | Hamilton Monthly Housing | Toronto Monthly Housing | Hamilton Savings Advantage |
|---|---|---|---|---|
| $80,000/yr | $60,500 | $3,710 (mortgage) | $4,600 (mortgage) | $10,680/yr |
| $100,000/yr | $73,700 | $3,710 (mortgage) | $4,600 (mortgage) | $10,680/yr |
| $1,550 (1BR rent) | $2,300 (1BR rent) | $9,000/yr |
Mortgage estimates based on average home prices, 20% down, 5-year fixed. Use our income tax calculator for exact take-home calculations.
For renters the savings are roughly $750/month ($9,000/year), while homeowners save approximately $890/month ($10,680/year). However, Hamilton residents who commute to Toronto must factor in GO Transit costs ($280–$400/month for a monthly pass) and 1–1.5 hours of commute time each way.
Income by area within Hamilton
Income varies significantly across Hamilton’s diverse neighbourhoods:
| Area | Approximate Median HHI | Character |
|---|---|---|
| Ancaster | $140,000+ | Highest-income area, suburban families |
| Dundas | $120,000+ | Historic village feel, professional households |
| Stoney Creek | $110,000–$120,000 | Growing suburban community |
| Hamilton Mountain | $100,000–$115,000 | Middle-income residential area |
| Downtown/North End | $55,000–$75,000 | Lower income, gentrifying, student population |
| East Hamilton | $60,000–$80,000 | Working-class, manufacturing heritage |
Estimates based on Census 2021 neighbourhood profiles.
This wide variation — with Ancaster households earning roughly double the downtown median — reflects Hamilton’s economic transformation from a steel town to a city with both affluent suburban communities and lower-income urban cores.
Income trends in Hamilton
Hamilton has undergone significant economic evolution:
- 2010–2015 — Steel industry contraction continued, but healthcare and education sectors grew. McMaster Innovation Park attracted tech companies.
- 2016–2019 — Housing prices surged as Toronto buyers discovered Hamilton’s relative affordability, driving a home price increase of over 70%
- 2020–2021 — Pandemic accelerated Toronto-to-Hamilton migration, with remote work making the commute irrelevant for many. Home prices peaked above $900,000.
- 2022–2025 — Home prices corrected ~20% from the peak. The local economy diversified further into life sciences and logistics, with Amazon and other distribution centres opening in the area
Hamilton has transitioned from a net exporter of commuters to a city increasingly able to provide local high-paying employment, particularly in healthcare, tech, and advanced manufacturing.
Estimate your Hamilton take-home pay with our income tax calculator or salary calculator.
Related tools and resources
- Hamilton Housing Market — Current home prices and trends
- Ontario Mortgage Rates — Find the best rates
- Ontario Land Transfer Tax Calculator — Calculate your closing costs
- Income Percentile Calculator — See where your income ranks
- Mortgage Affordability Calculator — How much home can you afford