The assets, debts and net worth of Canadian families, 2023

Release date: October 29, 2024
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Infographic: The assets, debts and net worth of Canadian families, 2023
Description: The assets, debts and net worth of Canadian families, 2023

In 2023, the median net worth* of Canadian familiesNote 1 was $519,700.


Table 01
Table summary
This table displays the results of Table 01. The information is grouped by Provinces (appearing as row headers), Median net worth, 2023 (appearing as column headers).
Provinces Median net worth, 2023
Newfoundland and Labrador $333,500
Prince Edward Island $399,800
Nova Scotia $354,600
New Brunswick $286,200
Quebec $371,000
Ontario $665,600
Manitoba $386,300
Saskatchewan $394,600
Alberta $457,100
British Columbia $773,500

*Net worth is the amount that families would have left over if they sold all their assets and paid off all their debts.

Families in which the major income earner was aged 65 or older had the largest median net worth.


Table 02
Table summary
This table displays the results of Table 02. The information is grouped by Family Types (appearing as row headers), Median net worth, 2023 (appearing as column headers).
Family Types Median net worth, 2023
Families, 65+ $1,109,700
Couples with children under 18 $645,900
Couples without children under 18 $555,500
Persons living alone, 65+ $475,900
One-parent families $211,200
Persons living alone, under 65 $183,200

Table 03
Table summary
This table displays the results of Table 03. The information is grouped by Most common types of assets (appearing as row headers), Median value (appearing as column headers).
Most common types of assets Median value
Family homes $500,000
Retirement assetsNote 2 $161,800
Vehicles $20,000
Bank deposits and other financial assetsNote 3 $26,000

Table 04
Table summary
This table displays the results of Table 04. The information is grouped by Most common types of debts (appearing as row headers), Median value (appearing as column headers).
Most common types of debts Median value
Mortgages on family homes $200,000
Vehicle loans $20,000
Student loans $14,000
Lines of credit, credit cards and instalment debtNote 4 $9,000

Sources: Survey of Financial Security, 2023.

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Copyright

Published by authority of the Minister responsible for Statistics Canada.

© His Majesty the King in Right of Canada, as represented by the Minister of Industry, 2024

Use of this publication is governed by the Statistics Canada Open Licence Agreement.

Catalogue no. 11-627-M

Frequency: Occasional

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