Two Alberta spots make list of Canada’s 10 richest communities
In a release that surprises no one, West Van once again tops the list of Canada’s richest communities. Maclean’s put their list out this August of the 100 richest communities in Canada, and while number 1 could be spotted a mile away, some of the top 10 might surprise you.
Before we dive in, a note about net worth. Because of Vancouver’s property values rising up at an insane rate, homeowners can find themselves as multi-millionaires on paper but have relatively modest incomes.
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For example, West Van’s median household income is $107,000 a year, but the average net worth sits just under a whopping $4.5M. Additionally, median refers to the absolute middle of a list, while the average is the sum of the list divided by the numbers in the list.
So, the multi, multi-millionaires at the top can easily skew an average household net worth.
Not surprisingly, Westmount in Montreal comes in at number 2, with their average hovering around $3.6M. Rocky View County of Calgary isn’t far behind at $3.3M. Meanwhile, King, just north of Toronto, sits at just under $2.8M.
You can check out Maclean’s list of Canada’s richest communities here.