The 20 Richest Cities in Canada

Lacombe lies some 125 km south of Edmonton, in Central Alberta. The city’s economy is mainly based on agriculture and the oil and gas industry. With the latter providing some of the highest paying in-demand jobs in Canada, it’s no surprise that Lacombe’s residents are generally quite wealthy. The average household net worth here is $1,011,062.

White Rock, located just north of the U.S. border, is part of Metro Vancouver. Named for a large white rock found here, the city is a bedroom community of Vancouver and the average household’s net worth is $1,012,789.

Located about 25 km east of Vancouver, Port Moody falls within Metro Vancouver. Today the former railway town has a large deep-sea bulk loading terminal, while petrochemicals, wood and electricity generation are major industries too. However, many people in Port Moody also work in arts and culture. The average household net worth here is $1,043,799.

With several large manufacturers located here, Burlington’s economy is as diverse as its people. The city lies just north of Hamilton and forms part of the Greater Toronto Area. The average household net worth in Burlington is $1,054,536.

The small city of Chestermere is about 20 km east of Calgary, growing from a farming community into a summer village for Calgarians who came for lakeside getaways. With more and more of these visitors deciding to stay, Chestermere eventually gained city status. The average household net worth here is $1,058,807.

The City of Côte-Saint-Luc is a mainly English-speaking enclave in Montreal. Today, this former farming community is primarily a residential city with many of its inhabitants working elsewhere in Greater Montreal. The average household in Côte-Saint-Luc has a net worth of $1,145,920.

Located in the Fraser Valley, Langley falls within Metro Vancouver. It’s adjacent to the Township of Langley, a completely separate district municipality. With its pedestrian-friendly centre and many parks, it’s very much a city for lovers of an active, outdoor lifestyle. The average household net worth in Langley is $1,151,960.

Kirkland is located on the Island of Montreal and is regarded as a suburb of the larger city. Even though it’s a mainly residential city, Kirkland is also home to a large industrial park. Some of the companies with offices here work in industries like software engineering and aerospace, providing some of the highest paying jobs for Generation Z. The average household net worth in Kirkland is $1,155,315.

As Canada’s third largest city, Vancouver has a thriving economy driven by industries such as tech, transport, tourism and film and TV production. Even though it’s one of the places with the lowest taxes in Canada, housing in Vancouver is notoriously expensive. Luckily for those who live here, the average household in Vancouver has a net worth of $1,157,164.

Delta is located at the mouth of the Fraser River and borders the United States. The city is part of Greater Vancouver and is very diverse, with a large population of Asian descent as well as significant Aboriginal communities. Delta is home to Canada’s largest container terminal but fishing and farming are still major economic activities here too. The average household net worth in Delta is $1,159,633.

Red Deer lies about halfway between Calgary and Edmonton. Agriculture is a major industry here but these days the city is also a centre for the oil and gas industry, so many of its residents have some of the highest paying jobs that don’t involve sitting at a desk. The average household net worth in Red Deer County is $1,164,171.

Making up most of the Fraser River Delta, Richmond forms part of Metro Vancouver. The city is home to a variety of industries, from agriculture and fishing to tourism and tech. Some of these industries provide among the highest paying jobs for newcomers to Canada, which is a good thing for the city: at 60 per cent, Richmond has the largest immigrant population in Canada. The average household net worth here is $1,204,103.

Leduc is about 35 km south of Edmonton. Its economy is mainly based on oil and gas but its location along major rail and road routes and near Edmonton International Airport makes the city an important transport hub too. In Leduc County, the average household net worth is $1,209,819.

Located about 100 km west of Toronto, Guelph is known for its low unemployment and crime rates and its high standard of living. One of the main industries here is auto-parts manufacturing, although a growing number of agri-food and biotechnology companies are based in Guelph too. Another major employer is the University of Guelph. The average household net worth in the city is $1,238,885.

Caledon, Ontario is located some 16 km northwest of Brampton in the Greater Toronto Area. The town is still mainly rural and is home to the Cheltenham Badlands, one of the most unusual places in Canada. The average household net worth here is $1,321,060.

Only about 30 km northeast of Toronto, Markham is part of the York Region. The city is a hub for business services and tech: its largest employer is IBM. Numerous other multinational companies have chosen Markham for their Canadian headquarters too and the average household here has a net worth of $1,558,876.

Vaughan is part of the Regional Municipality of York and lies just north of Toronto. It’s made up of five smaller communities and is ethnically and linguistically diverse. Less than half of its population speak English as their first language. Other major home languages spoken in Vaughan include Italian, Russian, Spanish, Punjabi, Tagalog, Hebrew, Mandarin and Vietnamese. The average household net worth in Vaughan is $1,667,910.

Located on the Island of Montreal and on the shores of Lac Saint-Louis, Beaconsfield is technically a suburb of Montreal, one of Canada’s most beautiful cities to live in. Beaconsfield itself is beautiful too, with gorgeous mansions befitting one of Canada’s most affluent cities. The average household here has a net worth of $1,686,729.

North Vancouver is often considered part of Vancouver but it’s actually an independent city. Its stunning location means it’s a hub for the film industry but shipping and chemical production are major employers here too. About three quarters of people between 25 and 64 years old in North Vancouver have a post-secondary degree, so it’s no surprise that the average household net worth here is $1,869,495.

Located just southwest of Downtown Montreal, Westmount is an affluent, predominantly English-speaking enclave on the Island of Montreal. Leonard Cohen was born in Westmount, as was screen legend Norma Shearer, while Ben Mulroney, one of those Canadians you didn’t realize were millionaires, grew up here. Westmount has one of the highest per capita incomes in North America and the average household here has a net worth of $3,953,205.