On July 13, 2022 Statistics Canada released data from the 2021 Census that included a portrait of Canada’s families and households, and an income profile of Canadian households. This data update contained both good news and bad news for residents of Greater Victoria.
The good news? Incomes are rising for everyone from the lowest income levels (i.e. households with an income that is 50% or less of the regional median) to the highest (i.e. households with an income that is 120% or more of the regional median). As well, the median income in Greater Victoria is higher than the provincial median and very close to the national median.
The bad news? Incomes are rising more quickly for the people who are already making the most money. This means that people are making more money but have less left over for food, transportation, clothing, and other needs after meeting their housing costs.
Sources:
Statistics Canada, July 13 Census data release: https://www12.statcan.gc.ca/census-recensement/2021/dp-pd/index-eng.cfm