The rich in Toronto make an average of $574,400 according to study

Ever wondered what it means to actually be considered rich in Toronto?

Well, OnlineGambling.ca have crunched the numbers to say just how much income the wealthiest 1% earn in each Canadian province and territory including some of their cities.

It found Toronto is the wealthiest city in the country – with the top 1% earning $574,400 – and Ontario is the wealthiest province with the highest average income in their 1%, at $542,100.

The study found the top 1% was made up of 73.5% of males and 26.5% of females.

Meanwhile, the average income of the top 10% in Ontario is $182,400

Prince Edward Island had the lowest income of the top 1% of all the provinces with an average of $380,900.

The numbers couldn’t be broken down along gender lines but the average income of the top 10% in P.E.I. was $159,000.

OnlineGambling.ca used Statistics Canada data containing the annual income stats for Canadians based on the last available year to come up with the numbers.