New Westminster’s household income has increased percentage-wise more than any of its neighbours, but in actual dollars it still trails most of them, although it is only a few bucks lower than next door in Burnaby.Statistics released by StatsCan last week showed between the 2006 and 2016 censuses, New West’s median household total income went up by 12.1 per cent, going from $57,694 to $64,695. That beats Burnaby at 9.0 per cent, which went from $59,414 to $64,737. But while New West’s increase in money made by its households beat Surrey (8.9 per cent), Delta (7.4), Coquitlam (6.1) and Richmond (3.1), its dollar value isn’t as high with Delta at $92,300, Surrey $77,494 and Coquitlam $74,383.
The number of households in New Westminster grew by 20.9 per cent from 27,045 to 32,705. Amongst the city’s neighbours, that’s substantially less than Surrey (29.6) and Coquitlam (24.4), but more growth than Richmond (19.6), Burnaby (18.2) and Delta (6.8).
In New West, 11.7 per cent of households had incomes of over $150,000 compared to 16.7 per cent for the rest of Greater Vancouver, 14.4 per cent provincially and 14.7 per cent nationally.
StatsCan also revealed in 2015, there were 10,885 Royal City residents (15.6 per cent) earning low income, just slightly more than the 15.5 per cent of 2005.
The low-income rate in 2015 for New West kids under 18 was 17 per cent, compared to 14.6 per cent for those 18 to 64, and 18.8 for residents 65 and over. One-parent families had a rate of low income of 25.9 per cent, while couples without children had a rate of 8.6 per cent.
Low income status for a one-person household was pegged in 2015 at $22,460 after tax. For larger households, the amount is adjusted upward by multiplying it by the square root of the household size.
Other stats showed in 2015, 65.8 per cent of New Westminster households contributed to Registered Retirement Savings Plans or Tax-free Savings Accounts. That was higher than the provincial (65.2 per cent) and the federal (65.2) rates.
The median total income of couples in New West was $89,600, which was higher than the median for Canada ($87,688) and substantially higher than next door in Burnaby ($77,139). The higher-income partner earned a median of $59,305 while the lower-income partner was $26,789.
In 47.9 per cent of couples a man had the higher income, 33.4 per cent had fairly equal incomes and in 18.7 per cent it was the woman earning more. New West’s percentage for a man having the higher income (47.9) is similar to Burnaby (47.7), Richmond (45.8) and Vancouver (45.1). The situation, however, is quite different in Delta (52.3), Port Moody (52.0), Surrey (51.4) and Coquitlam (51.2).
