Ontario is Canada’s most populous province and its largest economy, home to the financial capital of Toronto, the national capital of Ottawa, and major manufacturing and technology hubs. Ontario’s average income ranks second among provinces, behind only Alberta.
Average and median income in Ontario
| Metric | Amount | vs. Canada |
|---|---|---|
| Average Individual Income | $58,700 | +$2,600 |
| Median Individual Income | $44,900 | +$700 |
| Average Household Income | $154,700 | +$8,100 |
| Average After-Tax HHI | $126,800 | +$6,200 |
| Median Household Income | $125,700 | +$4,700 |
| Median After-Tax HHI | $108,900 | +$4,100 |
Source: Statistics Canada, Canada Income Survey 2023.
Ontario’s average individual income of $58,700 is 4.6% above the national average. However, the province’s higher cost of living — particularly in the Greater Toronto Area — offsets some of this advantage. After taxes, Ontario households average $126,800, reflecting the combined impact of federal and provincial income taxes plus Ontario’s health premium.
Average household income by city in Ontario
Ontario has the widest range of city-level incomes of any province, with major differences between the GTA, Ottawa, and smaller cities.
| City | Average HHI | Median HHI | Avg Home Price |
|---|---|---|---|
| Toronto | $163,100 | $131,900 | $1,009,000 |
| Ottawa | $158,200 | $131,500 | $630,000 |
| Hamilton | $142,600 | $116,800 | $807,000 |
| London | $126,500 | $103,200 | $584,000 |
Toronto and Ottawa lead in household income, but the relationship between income and housing costs varies dramatically.
Income vs. housing affordability in Ontario
Ontario has some of the most challenging affordability ratios in Canada:
| City | Median HHI | Avg Home Price | Price-to-Income Ratio |
|---|---|---|---|
| Toronto | $131,900 | $1,009,000 | 7.6× |
| Hamilton | $116,800 | $807,000 | 6.9× |
| London | $103,200 | $584,000 | 5.7× |
| Ottawa | $131,500 | $630,000 | 4.8× |
Compare these ratios to Calgary at 4.0× or Edmonton at 3.1×. Ottawa offers the best income-to-housing balance among Ontario’s major cities. Use our mortgage affordability calculator to see what you can afford based on your Ontario income, or see how much income you need to afford a home.
Key industries driving Ontario income
Ontario’s economy is the most diversified in Canada:
- Financial services — Toronto is Canada’s financial capital, home to the Big Five banks, major insurance companies, and the TSX. Financial sector salaries are among the highest in the country.
- Technology — The Toronto-Waterloo corridor is Canada’s largest tech hub, with growing salaries in software engineering, AI, and data science.
- Professional services — Legal, consulting, and accounting firms concentrated in Toronto and Ottawa.
- Government — Ottawa is the national capital, with a large federal public service providing stable, well-compensated employment.
- Manufacturing — Ontario’s automotive and advanced manufacturing sectors, particularly in the Golden Horseshoe region around Hamilton.
- Healthcare and education — Major hospital networks and universities across the province.
Ontario’s tax considerations
Ontario residents face several tax factors that affect take-home pay:
- Ontario Health Premium — An additional health tax of up to $900/year for incomes above $20,000, reaching the maximum at $200,000+
- HST of 13% — Among the highest combined sales tax rates in Canada (vs. 5% in Alberta)
- Toronto Municipal Land Transfer Tax — An additional tax on home purchases unique to Toronto, adding thousands to closing costs
An individual earning $100,000 in Ontario takes home approximately $3,000–$5,000 less than the same earner in Alberta. Use our income tax calculator to compare your take-home pay across provinces.
How Ontario compares to other provinces
| Province | Avg Individual Income | Median Individual Income | Avg HHI |
|---|---|---|---|
| Alberta | $64,200 | $49,400 | $161,900 |
| Ontario | $58,700 | $44,900 | $154,700 |
| British Columbia | $55,800 | $43,100 | $151,300 |
| Quebec | $52,700 | $42,200 | $135,100 |
| Canada | $56,100 | $44,200 | $146,600 |
Ontario ranks second in household income but its higher cost of living reduces the effective advantage. 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 Ontario after-tax pay
- Income Tax Calculator — Estimate your Ontario income tax
- Ontario Mortgage Rates — Find the best mortgage rates in Ontario
- Ontario Housing Market — Current home prices and trends
- Ontario Land Transfer Tax Calculator — Calculate your closing costs