MoneyINC Logo
Years of

The 10 Richest Cities in Canada

Ottawa, Ontario

Canada has a lot of rich folk. 41 billionaires call the country home, as do too many millionaires to count. Not everyone is rolling in it, of course - according to the latest figures, around 3.7 million Canadians live below the poverty line.

But by and large, it's a country that's doing OK for itself. Some areas are obviously doing better for themselves than others. In some of Canada's richest cities, there's enough collective wealth floating around to make even Jeff Bezos come down with a case of the green-eyed monster.

As to which of its cities are the wealthiest, find out now as we reveal the 10 richest cities in Canada.

Victoria, British Columbia

10. Victoria, British Columbia

Named in honor of Queen Victoria, Victoria serves as the capital of British Columbia and one of its richest cities. An educational hub with an ever-growing high-tech sector and a healthy tourist trade, it's a city that combines high living standards with high incomes.

If you want to go through life with money in the bank and a smile on your face, this is the place to head.

St. John’s, Newfoundland

9. St. John’s, Newfoundland

The first and only Newfoundland city to hit our list is St. John's. Made famous as the birthplace of the Labrador Retriever, St. John's has an impressive history and, judging by the state of its economy, an equally impressive future ahead of it. Small (by comparison to most of our entries) but perfectly formed, it's a tourist mecca with a booming economy and some very well-to-do residents.

Saskatoon, Saskatchewan

8. Saskatoon, Saskatchewan

Despite being the largest city in the province of Saskatchewan, Saskatoon is still relatively small in comparison to some of the other cities to make our list. By the latest estimate, its population hovers around the 300,000 mark.

But what it lacks in numbers, it makes up for in riches. With jobs a-plenty and armies of fresh young talent pouring out of the University of Saskatchewan, the city is a rich, vibrant place with a start-up culture that promises big things for its future.

Oshawa, Ontario

7. Oshawa, Ontario

Ontario isn't short of a rich city or two, as we'll see shortly. The first of its cities to make our list is Oshawa, a smallish city with enough rich residents to earn it 7th place on our lineup.

Once a transfer point for the fur trade, Oshwsa came to riches (and not a little fame too) when General Motors of Canada founder Robert McLaughlin decided to make his headquarters there.

When McLaughlin Motors Ltd decided to do the same, it quickly earned the title "Automotive Capital of Canada." These days, it's known more as a hub of education and health sciences than it is for cars, but while it may have lost its motors, it's lost none of its riches.

Guelph, Ontario

6. Guelph, Ontario

Despite being one of the richest cities in Canada, Guelph is pretty small. According to World Atlas, its population is just 141, 097 - a tenth of the size of some of our entries. But some small places pack a big punch, and that's certainly the case here. Thanks to flourishing manufacturing and education segments, the city frequently boasts some of the lowest unemployment figures in the country, not to mention some of the highest median incomes.

Regina, Saskatchewan

5. Regina, Saskatchewan

Next up is Regina, the capital city of the province of Saskatchewan and the fifth richest city in Canada. Most people are employed in the public service - apparently, it pays a more than decent wage, as most households in the city are earning well in excess of the national average.

Those who can't quite bring themselves to the work for the government will find plenty of equally well-paid opportunities in other booming areas such as manufacturing, telecommunications, retails, and financial services.

Edmonton, Alberta

4. Edmonton, Alberta

As part of the Calgary-Edmonton Corridor economic region, Edmonton has a lot in common with its slightly bigger, slightly wealthier neighbor. For a start, it's rich (hence its inclusion at number 4 on our list).

Secondly, most of its wealth and employment opportunities are tied up in the oil and gas industries (although while Calgary's financial services sector comes next on the list of the city's biggest employers, the retail section does that here).

And thirdly, like Calgary, its population began to expand in earnest after the Canadian Pacific Railway bought prospects, people, and prosperity to Alberta in the 1800s, and hasn't stopped expanding since.

While Calgary just has the edge in terms of both size and wealth, the one area in which Alberta beats it hands-down is in the size of its malls: in fact, West Edmonton Mall is the largest shopping center in all of North America.

Calgary, Alberta

3. Calgary, Alberta

Calgary, a large city of 1,239,220 in the province of Alberta, boasts one of the highest median household incomes of any city in Canada. Considering the prosperous state of its oil and gas industries, it's little wonder.

Unemployment is low, wages are high, and as more and more people cotton onto its attractions, so its population keeps expanding. If you're too concerned about getting your hands dirty to want to work in its central industries, you'll find plenty of great opportunities in the ever-growing financial services segment.

North Vancouver, British Columbia

2. North Vancouver, British Columbia

According to Slice, North Vancouver (which, despite what the name suggests, is actually an independent city in its own right, rather than a sub-section of Vancouver), is the second richest city in Canada.

Traditionally, its biggest employers have been the shipping and chemical industries, but in recent years, the film industry has been making its mark and bringing in plenty of jobs, riches, and in some cases, fame for the city's residents.

Wealthy, well-educated (two-thirds of the adult population have a degree), and blessed with a stunning location, North Vancouver isn't just a wealthy city, it's an all-around great place to live.

Ottawa, Ontario

1. Ottawa, Ontario

As says, when your mind turns to Canada, some names spring to mind more easily than others - Ottawa being one of them.

The country's capital might not be its biggest city (with a population just a little shy of 1 million, it ranks as the sixth most populous after Toronto, Montreal, Vancouver, Calgary, and Edmonton), but it is its richest. Its high household incomes can thank a booming public sector and a high-tech industry that's helped flood the area with jobs, offices, and lots of lots of money.

You can also read:

Dana Hanson

Written by Dana Hanson

Dana has extensive professional writing experience including technical and report writing, informational articles, persuasive articles, contrast and comparison, grant applications, and advertisement. She also enjoys creative writing, content writing on nearly any topic (particularly business and lifestyle), because as a lifelong learner, she loves to do research and possess a high skill level in this area. Her academic degrees include AA social Sci/BA English/MEd Adult Ed & Community & Human Resource Development and ABD in PhD studies in Indust & Org Psychology.

Read more posts by Dana Hanson

Related Articles

Stay ahead of the curve with our most recent guides and articles on , freshly curated by our diligent editorial team for your immediate perusal.
As featured on:

Wealth Insight!
Subscribe to our Exclusive Newsletter

Dive into the world of wealth and extravagance with Money Inc! Discover stock tips, businesses, luxury items, and travel experiences curated for the affluent observer.
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram