Quote:
Originally Posted by Jason14h
According to this site, 50% of employees earn over $120,000K in Calgary (Note - These stats seem a bit high but the average Calgary household made $140,000K last year so maybe not?)
http://www.salaryexplorer.com/salary...3324&loctype=3
So really to afford a million dollar home you need one person earning the median salary in Calgary of $120,000K, and one person earning $65,000 (75% of the Calgary population according to above site) in a two income household to afford a million dollar home |
Quote:
Originally Posted by chedder
Kind of off topic but that 120,000 average individual income seems way out of whack with what literally every other site says. The alberta government says the median family income is $105,000. CMHC says around the same.
Most sites put the average individual salary around $60,000 which matches what national surveys say. (54,000 for canadians) So your average household is not buying million dollar houses right off the bat (which seems obvious).
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Quote:
Originally Posted by Torture
That number is way out to lunch. I regularly look at compensation data and there's no way the average salary in Calgary is anywhere close to $120k.
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Average is a horrible way to define what "typical" or "normal" means
Example: We have 5 people
A has $5
B, C, D each have $10
E has $1000
Suddenly the "average person" has $207
Average is calculated as (1000+10+10+10+5)/5
But really the median is $10
The median is the central number of a data set. Arrange data points from smallest to largest and locate the central number. This is the median. If there are 2 numbers in the middle, the median is the average of those 2 numbers.