The median net worth in Canada is $519,700

The median household net worth in Canada is $519,700 (Statistics Canada Survey of Financial Security 2023, infographic published October 29, 2024). 'Median' means half of all Canadian households have more than this and half have less — it is the single best measure of the 'typical' household. By age group the medians are: Under 35: $48,800 | 35–44: $234,400 | 45–54: $521,600 | 55–64: $690,200 | 65+: $643,500.

The median is the middle household — half are above, half below. The mean (average) adds everyone's net worth and divides by the number of households, so a small number of very wealthy families pull it sharply upward. The gap is large: for the 45–54 age group the median is $521,600 but the mean is $1,012,000 — nearly double. Because the mean overstates where a typical household sits, the median is the honest benchmark for asking 'am I on track?'

Net worth is heavily right-skewed: there is no upper limit (the wealthiest households hold tens of millions), but you cannot go far below zero. A handful of high-net-worth households — concentrated among Vancouver and GTA property owners and business owners — drag the mean up while leaving the median, the true midpoint, unaffected. Across every age band in the SFS 2023 data the mean runs roughly 1.7×–3× the median for that band, which is why headlines quoting the 'average' make people feel behind when they are not.

A $500,000 household net worth is essentially right at the national median of $519,700 — meaning you are roughly in the middle of all Canadian households. Whether that is 'good' depends heavily on age: for a household under 35 it is well above the $48,800 median for that group; for a 45–54 household it is right at the $521,600 median; for a 55–64 household ($690,200 median) it is somewhat below. Use your age-group median, not the overall figure, as the fairer comparison.

A reasonable 'on track' benchmark is the median for your age group: Under 35 ~$48,800; 35–44 ~$234,400; 45–54 ~$521,600; 55–64 ~$690,200; 65+ ~$643,500 (SFS 2023). Clearing your age group's 90th percentile puts you in the top tier — for 35–44 that is roughly $1,150,000, and for 45–54 roughly $2,100,000. Because the median is so age-dependent, the most useful comparison is always within your own decade rather than against the all-ages number.

British Columbia has the highest median household net worth at $773,500, driven by Vancouver real estate — about 49% above the national median of $519,700. Ontario is second at $665,600 (GTA real estate and Bay Street), and Alberta third at $457,100. New Brunswick is the lowest of the ten provinces at $286,200. The spread between the top and bottom province is almost entirely explained by housing-market differences.

Yes. Statistics Canada's SFS methodology counts the principal residence at market value (less the outstanding mortgage), plus registered accounts — RRSP, TFSA, FHSA, RESP, RRIF — and employer pension plan values, alongside investments and other assets, minus all debts. For most Canadian households the home and the workplace pension are the two largest components. 'Investable net worth' — the figure financial planners use for retirement — excludes the home, and is typically far smaller than the total net worth reported in the SFS.

Median net worth rose sharply over the SFS cycles, led by real-estate gains. The SFS 2023 infographic reports that family units under 35 had a median net worth of $159,100 — up 179% from 2019 — largely from home-price appreciation during 2020–2022. Because so much of the increase is home equity rather than liquid savings, the gap between households that own property and those that rent has widened considerably across all age groups.