# Net Worth by Age in Canada: Median Figures (StatCan) > Median net worth by age in Canada from Statistics Canada's Survey of Financial Security, what's behind the numbers, and how to work out and grow your own. Source: https://trykosh.com/learn/net-worth-by-age-canada Guide - Wealth and retirement # Net worth by age in Canada: how do you compare? Statistics Canada measures household wealth every few years. Here are the median figures by age from the latest survey, what drives them, and why your own trend matters more than the comparison. Updated October 31, 20263 min readBy the Kosh team On this page[Median net worth by age in Canada](#table)[Home ownership drives most of the gap](#homes)[How do I calculate my net worth?](#calculate)[How to grow your net worth](#grow)[FAQs](#faq) ## Median net worth by age in Canada These figures are from Statistics Canada's **Survey of Financial Security 2023**, released October 2024. They're **medians** (half of families have more, half less) for **families** grouped by the age of the major income earner, in 2023 dollars. The median across all families was **$519,700**. Median family net worth by age of major income earner (constant 2023 dollars) Age 2019 2023 Under 35 $56,400 $159,100 35 to 44 $270,800 $409,300 45 to 54 $602,000 $675,800 55 to 64 $797,000 $873,400 65 and older $627,500 $738,900 Medians are more useful than averages here, because a small number of very wealthy families pull averages far above what a typical family has. Many websites quote averages or modelled estimates; we use only the published StatCan medians. ## Home ownership drives most of the gap Statistics Canada found that home ownership and workplace pensions explain much of the difference between families. Among young families (major earner under 35), homeowners had median net worth of **$457,100** in 2023, compared with **$44,000** for those without a principal residence. Among families aged 55 to 64, those who owned a home and had an employer pension plan had about $1.4 million more in median net worth than renters without a pension. That means comparing yourself with the table can mislead: a 30-year-old renter with a growing TFSA may be doing well even if they're far below $159,100. Compare like with like, and with your own past self. ## How do I calculate my net worth? Net worth = what you own minus what you owe. Assets (what you own) Liabilities (what you owe) Chequing, savings and GICs Credit card balances TFSA, RRSP, FHSA, RESP and non-registered investments Lines of credit Workplace pension (commuted value if available) Car loans and leases Home at a realistic market value Mortgage balance Other property and vehicles (conservatively) Student loans and any money owed to the CRA Note that RRSP balances are before tax: some of that money will go to tax when you withdraw it. For a cautious view, reduce RRSP values by your expected tax rate in retirement. ## How to grow your net worth 1. **Track it** every quarter or year. The trend shows whether your plan is working. 2. **Pay down high-interest debt** first: every dollar repaid raises net worth with certainty. 3. **Raise your savings rate** a point at a time, using a [budget built from real spending](/learn/how-to-budget-in-canada). 4. **Use registered accounts** so growth isn't taxed: see [how to start investing](/learn/how-to-start-investing-canada). 5. **Avoid lifestyle creep** when income rises: bank part of each raise. [Free tool**Compound interest calculator**See how savings grow when interest earns interest, with a starting amount, monthly contributions and the compounding your account uses.](/tools/compound-interest-calculator) **Where Kosh fits** Kosh assembles your net worth from the bank, card and investment statements you upload and updates it as new statements arrive, so you see the trend instead of a one-time snapshot. It never asks for bank logins. ## Frequently asked questions What is the median net worth in Canada? Statistics Canada's Survey of Financial Security 2023 put the median net worth of Canadian families at $519,700. What is a good net worth at 30 in Canada? Statistics Canada reports a median of $159,100 for families whose major income earner was under 35 in 2023, but homeowners and renters differ greatly ($457,100 versus $44,000). Your own trend over time matters more than the comparison. What is the median net worth for Canadians aged 55 to 64? The 2023 median for families with a major income earner aged 55 to 64 was $873,400, according to Statistics Canada. Should I include my house in my net worth? Yes, at a realistic market value, with the mortgage subtracted as a liability. Keep in mind it's hard to spend home equity without selling or borrowing. Why use median instead of average net worth? A small number of very wealthy families raise the average well above what a typical family has. The median is the middle value, so it better reflects a typical household. ## Sources - [Statistics Canada: Survey of Financial Security, 2023 (The Daily, October 29, 2024)](https://www150.statcan.gc.ca/n1/daily-quotidien/241029/dq241029a-eng.htm) - [Statistics Canada: Table 1, median net worth by family characteristics](https://www150.statcan.gc.ca/n1/daily-quotidien/241029/t001a-eng.htm) Written by the Kosh team and checked against the rules in force on October 31, 2026. This guide is general information, not tax, legal or investment advice. Kosh is an educational financial planning tool by Primedepth Labs. It is not registered with any Canadian securities regulator as an adviser or dealer, does not recommend specific securities, and does not hold your money or execute trades. Tax figures are estimates; confirm with the CRA or a qualified professional before acting. Investing carries risk. ## Upload your statement and Kosh does this for you. Kosh reads your bank, card and investment statements, estimates your federal and provincial tax and turns guides like this one into your own numbers and next steps. [Start free](/signup?via=learn-net-worth-by-age-canada)