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This is How the Average Canadian’s Net Worth Stacks Up to Home Sale Prices – by Province

In June 2022, the average home sale price in Canada was $629,971, according to the Canadian Real Estate Association. StatsCan’s most recent data on the assets, debts and net worth of Canadian families date from 2019 and reveal that the median net worth of Canadian economic families and individuals not in an economic family was $329,900. (An economic family is a group of two or more people living in the same household and related to one another, either by blood or by law.)

These net worths varied according to age and family size. For example, individuals under 65 who lived alone had a median net worth of only $51,000, couples with children under 18 had a median net worth of $435,700, couples without children had a median net worth of $459,400 and families over 65 had a median net worth of $840,900.

So what do house prices have to do with net worth? If you have a low net worth, you’re going to have a harder time finding the financing to buy your dream house, for one. But it’s not all bad: Higher home sale prices can increase your net worth, depending on how much equity you have in your home. Of course, these statistics vary from one province to another. Let’s see how net worth stacks up to home sale prices by province. And be sure to check out the average Canadian’s net worth by province.

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