Median income for Nanaimo reported in the 2011 Census was $27,840, BC’s median income was $28,765. Nanaimo’s median income has grown at a faster rate than the province as a whole since 1995, as a result, the gap between Nanaimo’s median income and median income in BC is closing.
Income By Source
The distribution of Nanaimo’s income by source reflects the age structure of the population. Between 2011 and 2013, the share of income from market sources increased by 0.5 percentage points, while income from government transfers declined by 0.6 percentage points. Provincially, the share of income from market sources increased by 0.2 percentage points , while the share from government transfers decreased by 0.8 percentage points during this period. Wages salaries and self-employment income decreased for Nanaimo and BC, the increase in market income was made up mainly by pensions and investment income as well as other sources of income.
Per Capita Income
Per capita income in Nanaimo has been growing steadily over the last five years. Between 2011 and 2013 BC ‘s per capita income grew by 6.9% and Nanaimo’s by 8.3%. Nanaimo’s average income grew by 6.9% and BC’s by 5.6% during the same time period. Although recent growth rates outpace BC, Nanaimo is still below BC’s average and per capita.