Household net worth tops $19 trillion on stock gains, but the wealth is top-heavy

Strong stock markets pushed the wealth of Canadian households past $19 trillion this spring. Statistics Canada reported on Friday that household net worth, the value of all assets minus all liabilities, rose 2.9% in the second quarter of 2026 to $19.1 trillion.

Desjardins senior economist Kari Norman calculated the gain at $546.3 billion and noted it was the eleventh consecutive quarterly increase. On a per-person basis, net worth rose by $13,785 in the quarter to an average of $462,336.

The numbers

Financial assets did most of the work. According to Desjardins, they rose 4.5%, while non-financial assets edged up 0.5%. Statistics Canada said the value of household residential real estate rose 0.4% to $8,523.3 billion, but was down 0.3% from a year earlier.

• Ratio of financial to non-financial assets: $1.24 for every dollar, the highest since 2000
• Household liabilities: up 1.3%
• Debt as a share of total assets: 14.8%, the lowest since early 2022
• Credit market debt to disposable income: 176.4%, down from 178.6%
• Debt service ratio: 14.52%, down 0.16 percentage points, below its 15.16% peak in early 2023
• Household saving rate: 3.7%

Borrowing slows

Households borrowed less. Seasonally adjusted credit market borrowing slowed by $5.0 billion to $29.4 billion. Mortgage borrowing fell for a second straight quarter to $19.4 billion, the slowest pace since the first quarter of 2024, and non-mortgage debt, including consumer credit, slowed to $10.0 billion.

Income grew more than twice as fast as debt, which explains why the debt-to-income ratio posted its largest drop since the third quarter of 2024. Even so, mortgage interest payments rose 1.6%, the largest increase in two years, as loans renew at higher rates. Households also kept pouring money into mutual funds, buying $53.8 billion worth in the quarter.

Who is getting richer

Statistics Canada was blunt that the gains are not evenly shared. Its distributional data show the wealthiest fifth of households holds 69.0% of all financial assets and 49.7% of non-financial assets. When stock markets rally, those households benefit most. Desjardins also pointed out that federal transfers to low- and middle-income households helped lift disposable income in the quarter.

The risks

Wealth built on market valuations can shrink quickly. The agency noted that equity gains were concentrated in financial and technology shares, and that much of the boost came from foreign markets, with the S&P 500 up 14.9% in the quarter. Desjardins warned that higher oil prices are adding to inflation and could weigh on real wages and savings, and that rising longer-term bond yields are increasing borrowing costs. A 3.7% saving rate also leaves a thin cushion for many families.

What it means for an ordinary Canadian household

The national average of $462,336 per person says little about a typical family, because it is pulled up by the wealthiest households. A more useful exercise is to track your own net worth once or twice a year: list what you own, subtract what you owe, and watch the trend.

If your portfolio has grown with the markets, it may be a good moment to check whether your mix of stocks, bonds and cash still matches your goals and risk tolerance. If your mortgage is coming up for renewal, the rise in interest payments in the data is a reminder to budget for a higher rate. This is general information, not personalized advice.

Related

• Net worth explained
• Asset allocation basics

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