Short answer
The average net worth in Canada is $995,900 per family unit, and the median is $519,700, according to Statistics Canada's 2023 Survey of Financial Security. The median, the household in the middle, is the better benchmark. By age of the major income earner, the median is $159,100 under 35, $409,300 at 35 to 44, $675,800 at 45 to 54, $873,400 at 55 to 64 and $738,900 at 65 and older.
Average and Median Net Worth by Age
| Age of major income earner | Median | Average | Average ÷ median |
|---|---|---|---|
| Under 35 years | $159,100 | $459,800 | 2.9× |
| 35 to 44 years | $409,300 | $753,500 | 1.8× |
| 45 to 54 years | $675,800 | $1,150,800 | 1.7× |
| 55 to 64 years | $873,400 | $1,347,300 | 1.5× |
| 65 years and older | $738,900 | $1,204,500 | 1.6× |
| All family units | $519,700 | $995,900 | 1.9× |
Source: Statistics Canada, Table 11-10-0016-01, SFS 2023.
Net worth climbs through working life and peaks at 55 to 64, when mortgages are mostly paid off and pensions and RRSPs are at their largest. It dips after 65 as retirees draw down savings, though the median for seniors is still well above the national figure.
Why the Average Is So Much Higher
The average adds up every family's net worth and divides by the number of families, so a small number of very wealthy households pull it up. The median is the family exactly in the middle: half have more, half have less. In 2023 the national average was 1.9 times the median, and for families under 35 it was nearly three times. If you compare yourself to the average, you are comparing yourself to a number most households never reach.
How Net Worth Changed Since 2019
Between the 2019 and 2023 surveys, the median net worth of Canadian family units rose from $381,100 to $519,700, about 36% after adjusting for inflation (both figures are in 2023 dollars). The biggest jump by age was among young families: the median for those under 35 rose from $56,400 to $159,100, which Statistics Canada reports as a 179% increase.
Net Worth by Province
| Province | Median net worth (2023) |
|---|---|
| British Columbia | $773,500 |
| Ontario | $665,600 |
| Alberta | $457,100 |
| Prince Edward Island | $399,800 |
| Saskatchewan | $394,600 |
| Manitoba | $386,300 |
| Quebec | $371,000 |
| Nova Scotia | $354,600 |
| Newfoundland and Labrador | $333,500 |
| New Brunswick | $286,200 |
| Canada | $519,700 |
Source: Statistics Canada, Table 11-10-0016-01, all ages.
British Columbia has the highest median at $773,500, and New Brunswick the lowest at $286,200. The gap is mostly housing: where homes cost more, homeowners' equity is larger. That also means a high provincial median doesn't make everyone there wealthy; renters in expensive cities are often well below it.
Net Worth by Family Type
| Family type | Median 2019 | Median 2023 |
|---|---|---|
| Senior families (65+) | $971,300 | $1,109,700 |
| Non-senior couples, no children | $530,600 | $555,500 |
| Non-senior couples with children under 18 | $503,300 | $645,900 |
| One-parent families | $96,000 | $211,200 |
| Unattached seniors | $372,300 | $475,900 |
| Unattached non-seniors | $58,900 | $183,200 |
Source: Statistics Canada, The Daily, October 29, 2024, Table 1, 2023 dollars.
Two incomes and more years of saving show up clearly: senior families have the highest median, and people living alone or raising children on one income have far less. If you live alone, compare yourself with unattached individuals rather than with couples.
What Canadian Net Worth Is Made Of
| Asset | Share of all assets | Families holding it | Median for holders |
|---|---|---|---|
| Principal residence | 38.2% | 64.7% | $500,000 |
| Employer pension plans | 13.3% | 51.9% | $156,700 |
| RRSPs, RRIFs, LIRAs and other | 10.1% | 64.5% | $60,000 |
| TFSAs | 2.4% | 54.9% | $24,000 |
| Deposits (bank accounts) | 3.1% | 94.7% | $8,400 |
Source: Statistics Canada, Table 11-10-0016-01, Canada, 2023.
The family home is the single largest asset, followed by pension savings. Bank deposits, the money most people think of first, are only 3.1% of all assets, with a median of $8,400 among families that hold them. On the other side of the ledger, 68.9% of families carried debt (median $100,000 among those with debt), and mortgages made up 82.5% of it.
Wondering whether your RRSP, TFSA or pension should count? Statistics Canada counts all of them. Our guide to what counts toward net worth explains how to value each one, including the tax owing on RRSP withdrawals.
Homeowners, Renters and Pensions
Home ownership and a workplace pension explain more of the gap between households than income alone. Among families under 35, the median for homeowners was $457,100 against $44,000 for those who don't own. For families aged 55 to 64:
| Families aged 55 to 64 | Median net worth |
|---|---|
| Own a home and have an employer pension | $1,400,000 |
| Own a home, no employer pension | $914,000 |
| Employer pension, no home | $359,000 |
| Neither | $11,900 |
Source: Statistics Canada, The Daily, October 29, 2024.
If you rent and don't have an employer pension, the national median isn't a fair yardstick. Your RRSP, TFSA and other savings are doing the job a home and a pension do for others, so track whether they grow every year.
Percentiles: What Puts You in the Top 10%
| Percentile (all family units) | Net worth, 2023 |
|---|---|
| 10th | $12,800 |
| 30th | $174,300 |
| 50th (median) | $519,700 |
| 70th | $1,078,600 |
| 90th (top 10% starts) | $2,488,700 |
Source: Statistics Canada, Table 11-10-0049-01. Each value is the median of a net worth quintile, which is the exact percentile shown.
Wealth is highly concentrated. In Statistics Canada's quarterly household accounts, the wealthiest 20% of households held 65.7% of all net worth at the end of 2025, averaging about $3,500,000 each, while the bottom 40% held 3%, averaging $81,650 (released April 13, 2026).
How to Compare Yourself Fairly
- Use your household's number. Statistics Canada measures families, so add your partner's assets and debts and count joint ones once.
- Use the median for your age group, based on whoever earns the most in your household.
- Include everything they include: home value, pension, RRSP, TFSA, vehicles, minus every debt.
- Remember the date. These are 2023 values. Home prices and markets have moved since, so a small gap either way means little.
- Compare with yourself most of all. Whether your net worth rises year over year matters more than where it sits against a national median.
The quickest way to get your number is our free net worth calculator, which shows where you fall against these medians by age and province. To keep it current without re-entering balances, see how to track your net worth.
Frequently Asked Questions
What is the average net worth in Canada?
According to Statistics Canada's Survey of Financial Security (2023), the average net worth of Canadian family units was $995,900 and the median was $519,700. The median is the better guide to a typical household, because a small number of very wealthy families pull the average up.
What is the average net worth by age in Canada?
By age of the major income earner (SFS 2023, 2023 dollars): under 35, average $459,800 and median $159,100; 35 to 44, $753,500 and $409,300; 45 to 54, $1,150,800 and $675,800; 55 to 64, $1,347,300 and $873,400; 65 and older, $1,204,500 and $738,900.
What net worth puts you in the top 10% in Canada?
Statistics Canada's 2023 data puts the 90th percentile of family units at a net worth of $2,488,700. A household above that is in the top 10% nationally. The 50th percentile (the median) was $519,700.
Is net worth measured per person or per household?
Per family unit. Statistics Canada measures the combined net worth of an economic family (people related and living together) or of a person not living in a family, and groups them by the age of the major income earner. To compare fairly, add up your whole household's assets and debts, not just your own.
Has Canadian net worth gone up?
Yes. The median net worth of Canadian family units rose from $381,100 in 2019 to $519,700 in 2023, both in 2023 dollars. Among age groups, families with a major income earner under 35 saw the largest gain: Statistics Canada reports their median rose 179% to $159,100.
Does the average include home equity and pensions?
Yes. Statistics Canada counts the market value of the principal residence and the value of employer pension plans as assets, minus all debts including mortgages. The principal residence alone made up 38.2% of all assets held by Canadian families in 2023, and private pension assets 23.4%.
Sources
- Statistics Canada, Survey of Financial Security, 2023 (The Daily, October 29, 2024).
- Statistics Canada, Table 11-10-0016-01: Assets and debts held by economic family type, by age group, Canada, provinces and selected census metropolitan areas, Survey of Financial Security.
- Statistics Canada, Table 11-10-0049-01: Assets and debts by net worth quintile, Canada, provinces and selected census metropolitan areas, Survey of Financial Security.
- Statistics Canada, Distributions of household economic accounts, fourth quarter 2025 (April 13, 2026).