The average net worth of families was $295,100 last year – up nearly 15% the last time Statistics Canada took such a survey but more than double that of 1999.

Net worth’s the difference between a family’s assets and debts.

Housing is both the largest asset and debt for Canadians.

Just over six in ten Canadian families reported a principal residence as an asset and most of these families reported having a mortgage.

But close to three in ten families were debt-free.

The share was highest among senior-led families where 58% were debt-free, which was down from 1999 when nearly 73% of those families were in that position.