Where Do I Rank? Comparing Your Net Worth in Canada

Call that money Bruno the way we don't talk about it. But maybe we should.

Understanding where your net worth sits compared to others isn't about ego or competition.

It's about context.

Are you ahead of the curve for your age? Falling behind despite a solid income? Or quietly building more wealth than you realized?

In this guide, we break down Canadian net worth rankings by age, household type, and income level.

We'll also unpack why the average net worth might not be the number you should trust most.

Understanding Canadian Net Worth

The average net worth in Canada can be misleading.

Averages are easily skewed by the ultra-wealthy, which means they don't always reflect the financial reality of most Canadians.

This is where the median comes in.

It is a midpoint value that gives a clearer picture of what the typical household actually has.

While reporting the median has paused after 2019, estimates suggest it remains significantly lower than the average, possibly around half.

As of 2024, the average Canadian household net worth sits at $1,011,882.

This is a sharp rise from $762,015 in 2020.

This growth has been largely driven by rising real estate values and financial market gains.

Though it doesn't mean every household is enjoying the same upward trajectory.

Net Worth Rankings by Age Group

Net worth evolves throughout different stages of life, shaped by shifting priorities, income levels, and financial responsibilities.

Younger Canadians often begin with more debt and fewer assets, while older age groups typically benefit from decades of savings, investment growth, and real estate appreciation.

In 2024, Canadians under 35 had an average net worth of $337,816, up from $231,391 in 2020.

At this stage, many are focused on paying off student loans, building emergency savings, and entering the housing market.

For those aged 35 to 44, average net worth rose to $657,582, reflecting a period of intense wealth building through homeownership and retirement contributions.

Though this group also had the highest debt-to-income ratio at 260.4 percent.

Canadians aged 45 to 54 saw their net worth peak at $1,346,291, often benefiting from career stability and compounding investments.

Those aged 55 to 64 reached an even higher average of $1,595,886, as this group enjoyed the strongest wealth accumulation, driven largely by real estate and retirement growth.

Finally, Canadians aged 65 and over had an average net worth of $1,123,174, with many beginning to draw down on their assets while still benefiting from strong investment returns.

Net Worth Rankings by Household Type

Household composition also helps to shape net worth, with notable differences between one-person and multi-person households.

In 2024, the average net worth of one-person households was $633,990, while multi-person households averaged nearly double at $1,173,637.

This disparity reflects not only differences in combined income and shared living costs, but also in asset accumulation.

Multi-person households typically hold larger total assets, $1.4 million compared to $704,000 for one-person households, with a greater reliance on real estate, which made up 54.57 percent of their net worth versus 45.25 percent for one-person households.

Interestingly, one-person households saw faster net worth growth between 2020 and 2024, with a 40 percent increase compared to 29.4 percent for multi-person households.

This indicates that while multi-person households often have more resources, individuals living alone may be growing their wealth more efficiently relative to their starting point, possibly through diversified portfolios or careful debt management.

Net Worth Rankings by Income Level

Naturally, net worth increases with income, but recent trends reveal interesting dynamics across the income spectrum.

In 2024, the bottom 20 percent of income earners had an average net worth of $375,574.

While still limited in access to high-growth opportunities, this group saw above-average growth in disposable income, largely due to rising wages in service sector jobs.

The second quintile had an average net worth of $502,140, while the third quintile, representing middle-income households, reached $791,597.

This middle group experienced some of the fastest net worth growth between 2020 and 2024, benefiting from gains in both real estate and financial investments.

The fourth quintile averaged $1,099,071, showing continued upward momentum.

At the top, the highest 20 percent of income earners held an average net worth of over $2.29 million in 2024, more than six times that of the bottom 20 percent.

This group gained nearly $460,000 in net worth over four years, fueled largely by substantial investment income.

In Q2 2024, high-income households saw the largest increase in their share of disposable income, mainly due to financial market performance.

Across all quintiles, the ability to invest emerged as a key differentiator in net worth growth.

Real Estate’s Role in Canadian Wealth

Real estate is dominant in Canadian household wealth, consistently accounting for a great portion of net worth between 2020 and 2024.

During this period, real estate made up over 50 percent of household net worth, peaking at nearly 56 percent in 2022 before slightly declining.

This reliance on property values has helped many Canadians build wealth quickly, particularly during periods of rapid home price appreciation.

However, the divide between homeowners and renters remains stark.

In 2024, the average net worth of homeowners was $1.38 million, almost five times higher than that of renters, who averaged just $274,000.

This gap shows the importance of real estate ownership in wealth accumulation, as property values tend to grow over time and offer leverage opportunities.

But this dependence on real estate also introduces risks.

If the housing market were to decline sharply, households heavily weighted in property assets could see a drop in net worth.

For many, diversification remains key to long-term financial stability beyond real estate gains.

Where the Wealthiest Canadians Stand

The wealthiest Canadians hold a disproportionate share of the country's total net worth with clear distinctions in asset composition and growth trends.

The most recent data shows that the threshold to enter the top 1% of net worth in Canada is at least $6.3 million.

This elite group, representing roughly 160,000 families, holds nearly a quarter of the country's total net wealth.

In Q2 2024, the top 20% of households by wealth accounted for over 67.7% of Canada's net worth, averaging $3.4 million per household.

In contrast, the bottom 40% held just 2.8%, with an average net worth of only $69,595.

The 64.9 percentage point gap highlights deepening wealth inequality in Canada.

The asset mix of the wealthiest households is also notably different.

While most Canadians rely heavily on real estate, the top households held more than half, 58.5%, of their assets in financial investments such as stocks, bonds, and business equity.

Emphasis on financial assets not only provides higher growth potential but also better liquidity and risk management compared to property-heavy portfolios.

The least wealthy held only 28.6% of their assets in financial instruments.

These differences show how the wealthiest grow and protect their net worth through strategic diversification and access to high-performing investment vehicles.

How to Use This Data to Grow Your Wealth

Now you might have a better idea of where you stand, but that's only the beginning.

To grow your wealth effectively, you need to start by setting clear, realistic financial goals based on your age, income, and lifestyle.

Instead of focusing on saving, prioritize investing in assets that can grow over time such as index funds, ETFs, and retirement accounts.

Diversifying your asset base is vital.

Rely on a mix of financial investments, real estate, and even emergency savings to build resilience.

If you're considering real estate, use it strategically rather than emotionally, factoring in long-term value and affordability.

It's helpful to benchmark your net worth against national figures, but don't obsess over them.

Your finances are personal and should reflect your values and circumstances.

Most importantly, track your progress regularly and be willing to adjust your strategy as your life evolves and the market shifts.

Your net worth shouldn't just be a number on a spreadsheet.

It should inform how you live, plan, and adapt.

It's less about measuring up to others and more about knowing what's possible for you.

The data tells a story, but the next chapter is yours to write.

If you're serious about making it a strong one, connect with a financial advisor who can help translate numbers into strategy.