Prince Edward Island is Canada’s smallest province by both area and population, with an economy anchored by agriculture, tourism, and government. PEI has the lowest average individual income of any Canadian province, but also offers a lower cost of living than major urban centres.
Average and median income in PEI
| Metric | Amount | vs. Canada |
|---|---|---|
| Average Individual Income | $46,400 | -$9,700 |
| Median Individual Income | $37,200 | -$7,000 |
| Average Household Income | $119,100 | -$27,500 |
| Average After-Tax HHI | $98,800 | -$21,800 |
| Median Household Income | $106,100 | -$14,900 |
| Median After-Tax HHI | $90,800 | -$14,000 |
Source: Statistics Canada, Canada Income Survey 2023.
PEI has the lowest average individual income in Canada at $46,400, but the gap between average and median household income is smaller than in many provinces, suggesting a more equal income distribution. Use our salary calculator to see your PEI after-tax take-home pay.
Key industries driving PEI income
- Agriculture — PEI is famously Canada’s leading potato producer, 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, Summerside-based 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% — Tied for the highest in Canada with other Atlantic provinces
- Provincial income tax rates — 9.65% to 18.75%
- Real property transfer tax — 1% of the greater of purchase price or assessed value
PEI’s tax burden is comparable to the other Atlantic provinces through the combination of high HST and moderate-to-high income tax rates. Calculate your exact take-home with our income tax calculator.
Income by area in PEI
| Area | Approximate Median HHI | Economic Character |
|---|---|---|
| Charlottetown | $100,000–$110,000 | Government, services, highest on the island |
| Summerside | $80,000–$95,000 | Military (CFB Summerside legacy), manufacturing |
| Rural Queens County | $70,000–$85,000 | Agriculture, tourism, fishing |
| Rural Prince County | $60,000–$75,000 | Potato farming, food processing |
| Rural Kings County | $55,000–$70,000 | Fishing, agriculture, lowest incomes |
Estimates based on Census 2021 data.
Charlottetown captures the vast majority of higher-paying government and professional services employment on the island, creating a significant urban-rural income divide relative to PEI’s small size.
Take-home pay: PEI vs. other Atlantic provinces
| Gross Salary | PEI | Nova Scotia | New Brunswick | Newfoundland |
|---|---|---|---|---|
| $50,000 | $39,100 | $38,800 | $39,200 | $38,200 |
| $75,000 | $56,200 | $55,400 | $56,500 | $54,600 |
| $100,000 | $72,600 | $71,200 | $73,000 | $70,200 |
Estimates based on 2025 federal and provincial tax rates. Use our income tax calculator for your exact figure.
PEI’s take-home pay is in the middle of the Atlantic pack — slightly above Nova Scotia but below New Brunswick at most income levels.
Income trends in PEI
PEI has experienced the most dramatic economic shift of any Atlantic province in recent years:
- 2015–2019 — Steady growth driven by immigration programs that attracted newcomers from outside Canada. PEI’s Provincial Nominee Program per capita was the most active in the country.
- 2020 — Tourism collapse hit PEI harder than most provinces, given the sector’s outsized importance to the island economy
- 2021–2023 — Record interprovincial migration from Ontario, driven by remote work and PEI’s dramatically lower housing costs. Average home prices in Charlottetown rose from ~$250,000 to $400,000+, significantly eroding PEI’s affordability advantage.
- 2024–2025 — Population growth stabilized. The island’s infrastructure (healthcare, roads, housing supply) has struggled to keep pace with rapid growth. Median household incomes have grown modestly, but not as fast as housing costs.
Housing affordability in PEI
Despite recent price increases, PEI housing remains affordable by Canadian standards:
| Area | Average Home Price | Approx. Median HHI | Price-to-Income Ratio |
|---|---|---|---|
| Charlottetown | ~$400,000 | $105,000 | 3.8× |
| Summerside | ~$300,000 | $87,000 | 3.4× |
| Rural PEI | ~$220,000 | $65,000 | 3.4× |
These ratios are comparable to prairie cities and far better than anything in Ontario or BC. Use our mortgage affordability calculator to see what you can afford.
Cost of living considerations
- HST of 15% — The highest in Canada, adding significant cost to everyday purchases
- Limited competition — As a small island market, prices for many goods and services can be higher due to less retail competition
- Healthcare access — Physician shortages are acute; over 20,000 PEI residents don’t have a family doctor, potentially requiring private health spending
- 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
| Province | Avg Individual Income | Median Individual Income | Avg HHI |
|---|---|---|---|
| Newfoundland | $50,500 | $38,600 | $125,100 |
| Nova Scotia | $48,200 | $38,100 | $120,800 |
| PEI | $46,400 | $37,200 | $119,100 |
| New Brunswick | $46,800 | $37,600 | $114,600 |
| Canada | $56,100 | $44,200 | $146,600 |
PEI has the lowest average individual income, though household income is slightly higher than New Brunswick. The province’s growing population from inter-provincial migration has both boosted economic activity and put pressure on housing costs. 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