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TL;DR

Statistics Canada reported on March 25, 2026 that immigrants who have held permanent residence for more than 10 years generally reach wealth levels comparable to Canadian-born families. Housing equity accounts for much of that progress.

The findings show how wealth can grow after settlement even though families continue to hold it in different forms. Established immigrant families had more wealth tied to real estate, but less in workplace pensions and Registered Retirement Savings Plans (RRSPs).

The Statistics Canada analysis used the 2016, 2019, and 2023 Surveys of Financial Security. Net worth was calculated by subtracting a family's debts from its assets.

Researchers classified people who became permanent residents within the previous nine years as recent immigrants. Those who obtained permanent residence more than 10 years earlier were considered established immigrants. These categories measure time since permanent residence, rather than citizenship or time since first arriving in Canada.

Recent immigrant families had lower average net worth than Canadian-born families in every wealth quartile examined in 2023. Among families in the lowest 25 per cent of the wealth distribution, recent immigrants had average net worth of negative $6,100. The corresponding figure for Canadian-born families was $1,700.

Recent immigrants in the second quartile averaged $46,900, compared with $118,300 among Canadian-born families. In the third quartile, the figures were $195,000 and $378,500, respectively.

The gap however did narrow near the top. Recent immigrants in the wealthiest quartile averaged about $1.27 million, while Canadian-born families averaged about $1.52 million. All figures were expressed in 2023 dollars and represented averages within each quartile, rather than median wealth.

A separate report on the study said Canadian-born families had twice the median wealth of recent immigrant families between 2016 and 2023.

The gap closed among families whose major income earner had been a permanent resident for more than 10 years. In 2023, established immigrants had higher average net worth than Canadian-born families in the first three wealth quartiles. Their average was $49,700 in the lowest quartile, compared with $39,900 among Canadian-born families. In the second quartile, established immigrant families averaged $426,000, against $348,500.

At the top, the figures were almost equal. Established immigrants averaged about $2.914 million, compared with $2.909 million among Canadian-born families.

Median figures showed a similar pattern. By 2023, the median net worth of established immigrant families was almost $143,000 higher than that of Canadian-born families, according to CityNews' account of the findings.

The gap narrows after accounting for education, geography, household characteristics, and other demographic differences. Immigrant families are more likely to live in major urban areas, where expensive properties produce higher home equity.

Max Stick, an analyst with Statistics Canada, said the results should be understood as a group-level pattern rather than a fixed timeline for every household. "Time in Canada – the length of time that you're here is an important factor," Stick said.

For recent immigrants, established immigrants, and Canadian-born families, equity in a principal residence was the biggest source of wealth. Compared with Canadian-born families, established immigrants generally held more equity in their homes and other properties.

Recent immigrants were less likely to own a home, according to the study's findings. Settlement in Toronto, Vancouver, and other expensive urban markets can make buying a first property harder during the initial years after arrival.

The United States has seen a similar pattern. Pew Research Center found that home equity made up 58 per cent of wealth among immigrant homeowners in 2021, versus 44 per cent among U.S.-born homeowners. Even so, just half of immigrant households owned their home, compared with 64 per cent of U.S.-born households.

Established immigrant families also held less wealth in employer-sponsored pension plans and RRSPs, even when their total net worth was the same as or higher than that of Canadian-born families.

People who arrive later in their careers have fewer years to build RRSP contribution room and participate in Canadian workplace pensions. Employment barriers can also limit access to jobs offering registered pension plans, especially during the first years after arrival.

This produces a different asset mix: housing may raise a family's net worth, while retirement accounts remain smaller and less diversified.

The 10-year finding is a population-level benchmark, not a promise that every newcomer household will follow the same path. Your results will depend on income, debt, housing access, age at arrival, and where you live.

When reviewing your finances, separate home equity from money available for retirement or emergencies. A high net worth tied to one property may leave less accessible cash. If you have an employer pension, check its eligibility and matching rules. The RRSP contribution room appears on your Canada Revenue Agency notice of assessment, while a Tax-Free Savings Account can provide another savings option once you become eligible.