2021 Census Insights and Findings – Income Profiles
- Vaughan’s household after-tax income is 20 per cent higher than the average after-tax income for the Province of Ontario and is 9 per cent higher than York Region.
- Vaughan’s household average after-tax household income for one-person homes increased 8 per cent since 2015 to $56,250 in 2020.
- Vaughan’s household average after-tax income for households with two or more people increased 17 per cent since 2015 to $134,800 in 2020.
- Canadian household average after-tax income grew 15 per cent since 2015 to $87,700 in 2020.
INSIGHTS and Findings
Canada and Ontario
The COVID-19 pandemic resulted in over two-thirds of Canadian adults receiving income from one or more pandemic relief programs. Benefits from COVID-19 relief programs offset losses in employment income, primarily among low-wage earners. From 2015 to 2020, income inequality fell in all provinces and territories, with Alberta recording the largest decline. Specifically, families with children saw faster growth in after-tax income than other family types due to increased government transfers. Nationally, the average after-tax income for households was $87,700 – an increase of 15 per cent since 2015. The median after-tax income in Canada for households was $73,000 – an increase of 9.8 per cent since 2015.
In Toronto, median after-tax income was $85,000 in 2020 – up 14.1 per cent from 2015, Vancouver’s median after-tax income of $79,500 increased 16.1 per cent in 2020 and Montreal’s median after-tax income increased 12.9 per cent to $65,000 in 2020. However, in large urban centres’ downtown cores, median after-tax incomes were generally lower, reflecting the presence of populations with lower levels of income, such as students and immigrants. In these downtown cores, the median after-tax income was $53,600 in 2020 compared to $75,000 in large urban centres overall.
Low-income rates across Canada saw the largest decline from 2015-2020. Overall, 11.1 per cent of Canadians were in a low-income situation in 2020 – down from 14.4 per cent in 2015.
In York Region, the average after-tax income of one-person households was $51,300 in 2020 – an increase of 11 per cent or $5,120 since 2015. For households with two or more people, the average after-tax income in 2020 was $125,200 – an increase of 16 per cent or $17,279 since 2015. The average after-tax income for an individual within York Region was $59,050 in 2020 – an increase of 16 per cent since 2015.
City of Vaughan
Since 2015, household income in Vaughan has experienced significant growth. The average after-tax income for one-person households in 2020 increased 8 per cent since 2015 to $56,250. For households with two or more people, the average after-tax income increased 17 per cent since 2015 to $134,800. The average after-tax income for an individual within the city of Vaughan was $49,840 in 2020 – an increase of 16 per cent or $6,971 since 2015. Thirty-five per cent or 55,805 households earned more than 100,000 in 2020 – an increase of 34 per cent or 14,230 households since 2015.
When compared to the Province of Ontario, Vaughan’s average after-tax household income is $22,300 or 20 per cent higher than the average after-tax income of Ontario households. Compared to York Region, Vaughan’s average after-tax household income is 9 per cent or $9,900 more than the average after-tax household income of York Region households.