Navigate Up
Sign In
The net worth of Albertans

The net worth of Albertans

Posted on: 6/12/2019 | Author: ATB Financial's Economics + Research Team

​​Assessing how individuals and families are doing financially comes down to more than just income. Accumulated financial assets and liabilities also come into play. An elderly couple may own their home (a substantial asset) but be living on a limited fixed income. A young couple may be earning good salaries but be saddled with debt.

On a broad scale, we know Alberta has the highest average after-tax income in the country. This is largely a function of Alberta having the highest average weekly earnings and the highest employment rate of any province.

When it comes to net worth, however, Alberta is third behind British Columbia and Ontario. The average net worth of households in Alberta in 2018 was $787,849 compared to $926,650 in B.C. and $800,401 in Ontario. New Brunswick is last on the list at $427,475. Strong real estate values in B.C. and Ontario explain much of the difference but a higher level of consumer debt in Alberta is also a factor.

Net worth is not evenly distributed across households. Data are not available for Alberta, but the nation-wide statistics are illustrative. Households in the highest income quintile (the top 20 per cent of income earners in Canada) had an average net worth in 2018 of $1,752,102 whereas the lowest quintile had an average net worth of $199,297.

Age is also a factor. Average household net worth peaks among those in which the major income earner is age 55 to 64 ($1,164,901) compared to $197,538 for those under age 35.

These statistics shed light on the net worth of households and how it is distributed but individual circumstances still need to be taken into account if we are to understand how specific households are faring relative to the overall economy. These could include financial costs associated with having a child with special needs, a period of unemployment, or receiving a substantial inheritance.

Net worth, graph​​​​​

Share this article:

GlassdoorThis icon serves as a link to download the
eSSENTIAL Accessibility assistive technology app for individuals with physical disabilities. It is
featured as part of our commitment to diversity and inclusionDiversity and Inclusion

About ATB | Contact Us | Find a Branch or ABM | Current Rates | Privacy and Security | Legal | Code of Conduct | Site Map | Supplier Resources

©ATB Financial 2019. All rights reserved. ATB Financial is a trade name/registered trademark.

ATB Financial