Statistics Canada Survey of Financial Security, 2023
In Canada, in 2023, among families whose major income earner was 55 to 64 years of age, those who owned their principal residence and had an employer-sponsored pension plan had a median net worth of $1.4 million. Those who rented and who did not have an employer-sponsored pension plan had a median net worth of $11,900. This data is part of new results from the 2023 cycle of the Statistics Canada Survey of Financial Security (SFS).
Families who owned their principal residence but who did not have an employer-sponsored pension plan had a median net worth of $914,000 in 2023. Those who had an employer pension plan, but who did not own their principal residence, had a median net worth of $359,000.
Among younger families, the lowest net worth group consisted of those without a principal residence or employer-sponsored pension plan. These families had a median net worth of $27,000, up from $10,500 in 2019.
Nearly 4 in 10 families (39%) held a mortgage in 2023, either for a home or for other real estate like a cottage or a rental income property. Median mortgage debt for mortgage holders was $205,000 in 2023, down from $219,500 in 2019.
Published By: Statistics Canada
Publication Date: October, 2024.
Click here to access Survey of Financial Security, 2023
