Savings rate benchmarks in Canada — are you on track?
Based on Statistics Canada SHS 2023, here is what people at each income level in Canada typically save — and how your city affects that benchmark.
Expected savings rate by income — Canada
| Income range | Expected savings rate |
|---|---|
| C$25,000 – C$40,000 | 1% |
| C$40,000 – C$55,000 | 4% |
| C$55,000 – C$75,000 | 8% |
| C$75,000 – C$105,000 | 14% |
| C$105,000 – C$145,000 | 20% |
| C$145,000 – C$210,000 | 27% |
| C$210,000+ | 34% |
Source: Statistics Canada SHS 2023. Rates represent gross income saved before tax. Coverage varies by income band.
Check your savings rate — pre-set for Canada
Cities in Canada
Select a city to see how local rent and costs affect your savings benchmark.
Toronto
very high cost city
Median rent
C$2,400/mo
Vancouver
very high cost city
Median rent
C$2,600/mo
Montreal
high cost city
Median rent
C$1,600/mo
Calgary
high cost city
Median rent
C$1,700/mo
Ottawa
high cost city
Median rent
C$1,900/mo
Edmonton
moderate cost city
Median rent
C$1,400/mo
Halifax
moderate cost city
Median rent
C$1,500/mo
Browse by income bracket
See savings benchmarks for a specific income level across Canada's major cities.