The average household net worth is $ 134,000, the seventh highest in the country and virtually unchanged over the past few years.
And get this: The No. 1 city's $ 3.5 - million
average household net worth is more than twice as much as that of the No. 2 richest city in Canada.
Average household net worth is pulled up by the 20 % of households who control 69 % of all the household wealth in Canada.
That means families in Weyburn have more money for other things, like saving for retirement, taking vacations or investing, which helps explain why
the average household net worth here is $ 736,000, the highest in the province.
The tables below break down
the average household net worth by province and by city so you can see where you fit in.
While the national
average household net worth sits at $ 442,130 (see What's the Source of Your Net Worth on page 55), it's actually as low as $ 196,240 in New Brunswick and as high as $ 591,047 in B.C..
The average household net worth of the district municipality of West Vancouver is more than $ 4 million.
The tables below break down
the average household net worth by province and by city, showing the true value of our assets minus our debt.
Between 1989 and 2013,
average household net worth rose from $ 342,300 to $ 528,400 in 2013 dollars.
For me, the biggest disconnect of all is the fact that while Americans are more prosperous by Martin's measure, Canadians now have a higher
average household net worth.
Average household net worth for this group fell by 4 % during the same period, down to about $ 133,800 per household.
Not exact matches
Among Alberta's richest neighbourhoods, Roxboro is in fifth place in terms of
net worth; but residents here are in second place in terms of
average annual
household salary, bringing home $ 845,038 a year, and own the second - most - expensive homes, with home prices just shy of $ 1.4 million.
Though this neighbourhood ranks 16th in terms of
household net worth, the people in Britannia have the highest
average annual
household salaries of any neighbourhood on the list, at $ 1.45 million per year.
Despite boasting the province's highest
average annual
household income, Kerrisdale didn't take the top spot in B.C. based on
net worth, in part because the area's homes ranked third by price.
Although the
household debt to
net worth ratio has declined considerably from its peak, it is still around 26 percent, well above the already elevated
average of the past decade (Chart 19).
Research shows that the
average working US
household has virtually no retirement savings, and even when considering not just retirement assets, but total
net worth, around 65 percent of
households fall short of conservative retirement savings targets for their age and income.
The blue bars show the
average annual amount of the tax in cash terms for each decile of
household wealth in WAS (to construct the deciles,
households in WAS were divided into ten equally sized groups according to
net household wealth).
Illegal immigrants on
average per
household are a
net yearly loss to American taxpayers of 14k per year.
D.C. suffers from steep wealth inequality, which maps along racial lines: According to a 2016 report from the Urban Institute, white
households in D.C. boast a
net worth 81 times greater than that of the
average black
household.
Typically, middle - class
households — and even those in the second - highest quintile — have
net worths that fall in line with the national
averages.
In Vancouver, for instance, real estate accounts for 55 % of the
average household's
net worth, and 65 % of the
average household's assets before debt is deducted.
Unsurprisingly,
households with negative or zero
net worth also have the highest amount of debt ($ 10,308, on
average).
By that point, the
average household has accumulated a
net worth of about $ 670,000.
Unfortunately, the
households with the lowest
net worth are carrying the highest
average credit card debt, with a balance of over $ 10,000 per month.
(But low income families with a
net household income of $ 25,921 or less may increase their benefit rate to as high as 80 % of their
average insurable earnings.)
To an
average household, high
net worth may be viewed as someone with a few million stashed away.
According to DBRS, the
average Canadian
household had a
net worth of $ 726,000 — including 74 % of home equity, thanks to a decade of steady property appreciation (DBRS numbers were based on data up to Sept. 30, 2016).
The
average negative - or zero -
net - worth
household carries credit card debt of $ 10,307.
To add an extra layer of insight, we compared the savings habits of the
average millennial
household to millennial
households in the top 25 % of
net worth.
If one adds the spilled hydro and curtailed wind to the
net exports, the 21.2 TWh could have provided over half of all
average Ontario
households with power for a full year, yet we sold it 2.36 cents / kWh while we paid 10.14 cents / kWh for its generation.
Net exports in November 2016 were equivalent to the power that approximately 150,000 «
average» ** Ontario
households would use in a year, or to put it another way, was sufficient to supply 2.4 million of those same
households for the whole month of November.
On assumptions made by DECC in 2010, the
net effect would be a loss on
average for low - income
households, tending to increase fuel poverty.
Their
households have the highest
net worth of any age group,
averaging $ 254,000, and many are making wise financial decisions to protect their families against financial hardship in the future.
Since 2010, Hispanic homeownership
averaged a
net increase of 178,000 owner
households per year.
Unsurprisingly, most stretched are
households in the highest region of Greater London, where 70 % of properties cost more than # 1,818.7 per month to run — the
average UK
net take - home after tax.