With all the talk of millionaires buying up Vancouver houses, I thought it would be interesting to check out just how many millionaires there are in Vancouver. As ever, it’s hard to find exact measures of millionaires, especially immigrant millionaires.
Statscan does keep track of demographics by large income groups, so let’s start there:
Interestingly, while there has been some growth in people earning over 250,000 per year, the fastest growth has been in the income groups just below that: $100,000-149,000 and $150,000-199,999. Whereas, most of the income groups that saw decreases were in the lower income groups – and I doubt that’s just because they got wealthier.
It’s too bad the data only goes until 2013, because it looks like the population has surged ahead since the 2008 economic recession in the US.
Source CANSIM Table 111-0008