Have you been considering to immigrate to Canada for a while? Candidates looking to start an improved life and earn more money should consider cities with a high median household income. The average household can make between $73, 960 to $104, 410 in Canada.
The factors considered in this article include the average household net worth, housing prices and unemployment rates in each city, to give you a better idea of how affluent cities in Canada are.
The list of Canada’s wealthiest cities is strongly related to housing prices and certain cities are at the top because of the rich resources in the specific province. Such provinces benefit from good resource prices and incomes increase when resource-based industries grow. Here's a full breakdown of all the factors that make up the Cost of living in Canada.
There are plenty of vacancies in many industries. Therefore, Canada has plans to welcome over 1 million immigrants by 2021 which could be your chance to immigrate to Canada and have a brighter future.
The process and application to immigrate to Canada can be confusing. For a successful procedure, candidates have to meet certain criteria and there are over 70 entry programs offered by the Canadian government. Our services help you choose the best-suited entry program for you.
We have rounded up everything you need to know about immigrating to the top 5 wealthiest cities in Canada.
West Vancouver, British Columbia
West Vancouver was ranked the richest city in Canada with an average household net worth of $4, 536, 269 per year. That is almost double the provincial average! The economy is mostly based on the retail, recreational and service industry. West Vancouver offers many opportunities for new and existing businesses because of its low tax rates. Now is the best time to start a business here.
The city meets the needs of all 42,131 residents and provides locals with a sustainable economy. The diversifying and expanding nature of the economy caters for future businesses and secures the growth of this vibrant city. The waterfront community of West Vancouver enjoys benefits such as low crime rates in the city and only 4% of people in West Vancouver are unemployed.
Mont Royal, Quebec
Mont Royal has a high average household net worth of $2,392,238. This island town situated in the city of Montreal is home to 20, 276 people. Mont Royal is a good place to raise a family because of its subsidized child care system where parents pay no more than $200 per month for full-time childcare.
Mont Royal benefits from changes in the economy. They are less dependent on the manufacturing industries and rely more on technology and financial industries. Investors are attracted to Montreal due to the reasonable prices and the economic stability. The housing market in this town is affordable and the school systems here have high standards.
This city is an affluent and independent residential community on the island of Montreal. Westmount is home to 20, 938 residents and offers a good quality-life by considering the needs of the residents. The population in Westmount is considered amongst the wealthiest communities in Canada. This vibrant area has one of the highest per capita incomes in North America and the average household here has a net worth of $3,953,205.
The attractive little city offers woodlands and extraordinary architecture. The housing market has good prices for reasonably good sized homes of about $1,500 to rent. The unemployment rate in Westmount is slightly high at 7,6% but the average household income is still amongst the highest.
North Vancouver, British Columbia
The city of North Vancouver is an independent city situated on the Northern shore of Vancouver. The city is dynamic and vibrant, offering striking entertainment, good business, culture and spectacular locations for filming. The film industry provides many jobs as well as the shipping production industry.
North Vancouver also offers the infrastructure to support manufacturing and technology. Education in this city is priority, about three quarters of people between 25 and 64 years old have a degree here. Families obtain a good income with the median family income resting at $1, 869, 495.
Beaconsfield is a suburb located on the island of Montreal. Beaconsfield is beautiful and perfect for families seeking a quiet and peaceful lifestyle. Beaconsfield is located on the shores of Lac Saint-Louis with summer homes and mansions everywhere. This is one of the most affluent communities in Canada.
The suburb is home to 19, 115 people and 77% of them speak both english and french. Some of the perks of this wealthy region include a high average household net worth of $1,686,729.
Ways to Immigrate
There are various ways to immigrate to Canada but the Provincial Nominee Program is one of the best options to apply for immigration which our expert consultants will take you through step by step.
Provincial Nominee Program
Provincial Nominations are for candidates who wish to live and work in a specific province of Canada. Each Provincial Nominee Program (PNP) has specific streams which you can apply for and each PNP has a set of eligibility requirements and some even have a list of occupations that are in demand in that province/territory. If you’re eligible for one of them that could be your ticket to Canada!
Below are some specific PNP streams that you can consider applying to in order to immigrate to Canada’s top 5 Wealthiest Cities.
|Provincial Nominee Programs|
*Quebec has its own rules and systems regarding immigration and does not participate in PNP with the other provinces/territories.
How can we help you?
Our Regulated Canadian Immigration Consultants (RCICs) provide expert knowledge about ever-changing immigration policies and carefully explain the programs available to you. These professionals will assist in looking over your information and help you choose your best options for starting your application process.
They have all been through the steps themselves and can give insights into how to strengthen your profile. Ease the stressful nature of the application period which can stem from submitting documents on time to providing accurate and complete information to immigration officers.
Sign up for our service to get started on your immigration application to one of the wealthiest cities in the Great White North and make sure you have the best chance of achieving permanent residence through the different programs offered by the Canadian federal government.