The average net worth of Canadian family units reached $995,900 in 2023. However, the median was much lower at $519,700, creating a difference of $476,200.

The median represents the midpoint: half of family units had a higher net worth and half had a lower net worth. The average adds all net worth together and divides it across family units, meaning exceptionally high values can pull it upward.

Net worth measures the value of assets, such as housing, savings and investments, minus outstanding debts. The figures cover economic families and people not living in an economic family and are expressed in 2023 dollars.

Source

Statistics Canada, Table 11-10-0016-01:
Assets and debts held by economic family type

Accuracy Note

The homes, vehicles and investment documents in the infographic are symbolic. Statistics Canada’s figures measure total net worth and do not provide that specific asset breakdown for each value.