What you will find on this page is a household income percentile calculator for Canada for 2020 along with 17 Canadian household income statistics.
Enter your household income, (not individual income) in Canadian dollars, select your province, and the household income percentile calculator will let you know where you stand in regards to percentile compared to other Canadian households.
NOTE: If you’re looking for a Canadian individual data by province for 2020, you can find that here: Income Percentile Calculator by Province for Canada Including 28 Income Statistics
** How this calculator works: Enter your before tax Canadian household income, your province, and click “Calculate”, and the calculator will define “What percent am I household income in Canada” or “What percentile is my income” in Canada as a percentile.
In terms of Canadian wealth, this site has calculators on a number of different wealth and income statistics, so it’s important not to confuse household wealth with individual income, and household income. Household income is in aggregate of all of the individuals in the household, whereas individual income is an individual salary (income), and wealth (net worth) is the amount of wealth, less debt, that an individual or household has.
Summary Findings – Household Income Comparison for Canada Including the Provinces
The Top 1% Richest Provinces by Household Income are:
- Number 1 richest province by household income – Alberta = $447,181
- Number 2 richest province by household income – Northwest Territories = $321,433
- Number 3 richest province by household income – Ontario = $317,023
- Number 4 richest province by household income – B.C. = $286,481
- Number 5 richest province by household income – Newfoundland = $280,105
** Note – all data has been extracted from the same data tool as the calculator
What Do The 1%, 5%, 25%, 50%, and 75% in Canada Earn for Household Income?
- The 1% household income in Canada earns $306,710
- The 5% household income in Canada earns $157,486
- The 10% household income in Canada earns $122,274
- The 25% household income in Canada earns $78,820
- The 50% household income in Canada earns $44,807
- The 75% household income in Canada earns $21,811
The median after-tax household income in 2020 is $65,084
** NOTE, Statistics Canada reports the 2018 after-tax household income at 61,400. I made an assumption of a 3% growth for both 2019 and 2020 to come to $65,084
What is considered a high salary in Canada?
Based on the Canadian household income data, and assuming you need to be in the top 5% in order to be considered a high salary, then $156,486 would be considered a high salary in Canada.
What is a good family income in Canada?
A “good” family income in Canada is quite subjective, and is, of course, going to vary depending on the cost of living in the city and province, but, the amounts are as follows (using the top 20% of household income):
- Canada = $89,514
- Alberta = $113,465
- Ontario = $91,231
- B.C = $88,494
What is the top one percent household income in Canada in 2020?
To be in the top 1% in Canada in household income in 2020, your household will have to earn $306,710 in annual income.
What is the top 5% household income percentile in Canada in 2020?
To be in the top 5% of household incomes in Canada in 2020 is $157,486
You might find this article interesting: How to Become a Decamillionaire, Grow your Net Worth to $10 Million, and Join the 1% Club
The average Canadian household income in 2020 is $50,476
Note: The household income percentile is also synonymous with family income percentile.
Data Sources: Statistics Canada