The Richest Cities in Canada 2024

The Richest Cities in Canada 2024
The Richest Cities in Canada 2024

With the new year well underway, it’s time to look at The Richest Cities in Canada 2024 Based on various factors, including job growth, average incomes, real estate values and overall Net worth. These cities are expected to see significant economic growth in the coming years.

MoneySense annually publishes over 400 Canadian cities based on their quality of life. They consider a variety of criteria, such as property prices, unemployment rates and the overall average net worth. So, if you want to move to one of Canada’s richest cities, here’s where you should head in 2024!

The Richest Cities in Canada 2024

 

1. Toronto, Ontario

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Toronto

Explore Toronto, Ontario’s vibrant heart, home to 2.8 million people. Recognized as Canada’s most populous city, Toronto excels in finance, technology, and arts, with a robust median household income of $84,000. Real estate investors note that the average home price is a lucrative $1.1 million. Highlights include luxury shopping on Bloor Street and cultural experiences at the Royal Ontario Museum.

 

2. Vancouver, British Columbia

North Vancouver
Vancouver

Vancouver, British Columbia, along the Pacific coastline, is a picturesque blend of mountain vistas and waterfront districts. Housing over 662,248 residents and boasting a median income of $86,988, Vancouver’s economy spans cinema, tech, and natural resources. With an average home price of $1,185,100, it’s a prime spot for property investment. Luxuries include upscale dining in Yaletown and adventures in Stanley Park.

 

3. Calgary, Alberta

Calgary, Alberta
Calgary, Alberta

Located in the Rockies’ foothills, Calgary, Alberta, stands out with a population of 1.6 million and an impressive median household income of $118,000. Dominated by oil, gas, and finance sectors, the average home price is around $557,400. Notable amenities include the Calgary Stampede and high-end shopping in the downtown area.

 

4. Ottawa, Ontario

Ottawa, Ontario
Ottawa, Ontario

Canada’s capital, Ottawa, Ontario, boasts a rich history and cultural scene. With over 1,077,900 residents and an average family income of $87,000, its economy thrives on government and tech sectors—the housing market averages at $628,900. Attractions include Parliament Hill and events at the National Arts Centre.

 

5. Edmonton, Alberta

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Edmonton

Edmonton, Alberta, known for its vibrant arts and festival scene, is a hub on the North Saskatchewan River. With a population of 1,544,000 and a median income of $112,000, it focuses on the oil, gas, and healthcare sectors. The average home price is a competitive $370,400.

 

6. Montreal, Quebec

Montreal
Montreal

Montreal, Quebec, Canada’s second-largest city, offers European charm and a rich cultural atmosphere. With 1.8 million residents and a median income of $61,747, its economy thrives on aerospace, technology, and finance. The average home price is $514,300. Key attractions include Old Montreal and Saint-Laurent Boulevard’s dining.

 

7. Mississauga, Ontario

Mississauga
Mississauga

Near Toronto, Mississauga, Ontario, is a fast-growing economic center with a population of 804,872 and a median income of $70,444. Its diverse economy includes manufacturing and finance, with an average home price of $970,510. Highlights are the Square One Shopping Centre and Lake Ontario’s waterfront.

 

8. Burnaby, British Columbia

Burnaby
Burnaby

Burnaby, British Columbia, located near Vancouver, boasts a population of 254,197 and a median income of $73,500. Key industries include film, technology, and retail, with an average home price of $965,836. Attractions include Metropolis at Metrotown and other luxury amenities.

 

9. Abbotsford, British Columbia

Abbotsford, British Columbia
Abbotsford, BC

Abbotsford, British Columbia, is notable for its agricultural wealth and robust economy. Home to 168,478 people with a median income of $81,000, key sectors include agriculture, manufacturing, and retail. The average home price is $784,493. Attractions include the Abbotsford Tulip Festival and local markets.

 

10. Oakville, Ontario

Oakville
Oakville

Oakville, Ontario, located on Lake Ontario, is known for its scenic harbours and vibrant arts scene. Its population is 239,897, with a high median income of $202,026. The economy focuses on manufacturing, finance, and healthcare, with an average home price of $1,611,106. Luxuries include dining in downtown Oakville and Bronte Harbour.

 

11. Quebec City, Quebec

Quebec City
Quebec City

Quebec City, Quebec, offers a unique French Canadian experience with a population of 675,000 and a median income of $60,800. The economy is led by tourism, technology, and healthcare. The average home price is $341,700. Luxuries include Old Quebec and French restaurants.

 

12. Regina, Saskatchewan

Quebec City
Quebec City

Discover Regina, one of Canada’s fastest-growing cities, in the heart of Saskatchewan’s prairies. With a population of 271,637 and a median household income of $84,391, Regina’s economy is propelled by agriculture, mining, and oil. The real estate market is attractive, with an average home price of $283,344. Cultural richness and events at the iconic Mosaic Stadium are key attractions for residents and investors.

 

13. Saskatoon, Saskatchewan

Saskatoon, Saskatchewan
Saskatoon

Experience the growth and hospitality of Saskatoon, the largest city in Saskatchewan. Located along the picturesque South Saskatchewan River, it boasts a population of 317,480 and a median household income of $83,127.

Known for its friendly atmosphere and welcoming nature, Saskatoon’s economy is fueled by agriculture, mining, and technology sectors. The average home price is an inviting $382,700. Highlights include the scenic Meewasin Valley trails and the vibrant Broadway Avenue, making it a top choice for living and investment.

 

14. Surrey, British Columbia

Surrey
Surrey

Explore Surrey in British Columbia, a key part of the Greater Vancouver area known for its diversity and dynamism. Home to 659,126 residents, Surrey’s median household income is $68,071.

It shines as a major industrial hub, excelling in high technology, clean energy, advanced manufacturing, health, education, and agriculture. The real estate market is vibrant, with an average home price of $940,167. Luxurious amenities include the Surrey Arts Centre and Bear Creek Park, enhancing its appeal as a rich city in Canada.

 

15. Winnipeg, Manitoba

Winnipeg, Manitoba
Winnipeg, Manitoba

Discover Winnipeg, Manitoba’s capital, situated at the confluence of the Red and Assiniboine Rivers. As the last city on our list, it boasts a population of 841,000 and a median household income of $70,750.

Winnipeg is known for its diverse culture and yearly festivals such as the Festival du Voyageur and Jazz Winnipeg Festival. The real estate market is accessible with an average home price of $332,700. Key luxuries include The Forks, a historic and cultural hub, and the prestigious Royal Winnipeg Ballet, making it a desirable location for cultural enthusiasts and investors.

 

The Richest Cities in Canada 2024

  1. Toronto, Ontario
  2. Vancouver, British Columbia
  3. Calgary, Alberta
  4. Ottawa, Ontario
  5. Edmonton, Alberta
  6. Montreal, Quebec
  7. Mississauga, Ontario
  8. Burnaby, British Columbia
  9. Abbotsford, British Columbia
  10. Oakville, Ontario
  11. Quebec City, Quebec
  12. Regina, Saskatchewan
  13. Saskatoon, Saskatchewan
  14. Surrey, British Columbia
  15. Winnipeg, Manitoba

 

Wealthiest Cities in Canada: Bottom Line

These 15 cities are pivotal to Canada’s economic fabric, offering a blend of thriving industries, cultural attractions, and high-quality living. They highlight the country’s diverse landscape and robust economy as significant contributors to Canada’s wealth, making them ideal for those seeking luxury living or investment opportunities.