MEDIAN, AVERAGE, PER CAPITA INCOME
In 2018, the median household income in the City of Nanaimo was $62,091. This is a 13% increase in the last five years. By 2023, Nanaimo’s median household income is projected at $71,095. In 2018, the average household income in the City of Nanaimo was $85,005, an increase of 17.1% in the past five years. Average household income is projected to reach $97,165 by 2023. The per capita income in 2018 was $36,621, this is an increase of 17.2% in the past five years. Projected per capita income for 2023 is $42,147.
The distribution of Nanaimo’s income by source reflects the age structure of the population. Between 2013 and 2015, the share of income from market sources decreased by 0.2 percentage points, while income from government transfers increased by 0.2 percentage points. In 2015, 90.1% of Nanaimo's income came from market sources, compared with 92.1% for BC. Nanaimo's share of income from Pensions and Investment increased by 0.6 percentage points and BC's share increased by 0.2 percentage points. The share of income from government transfers increased slightly for both BC and Nanaimo between 2013 and 2015 while the share of income from wages and salaries declined slightly.