07/24/2014 12:20 EDT | Updated 07/24/2014 12:59 EDT

Calgary Median Family Income Highest In Canada

Philip and Karen Smith via Getty Images

Toronto may be home to Canada's richest neighbourhoods, but Calgary takes top spot for highest family income.

According to data released Wednesday by Statistics Canada, Calgary is Canada's richest city in terms of median family income.

Calgary's median family income rose 5.2 per cent in 2012 to $98,300.

Edmonton came a strong second, with income rising 4.5 per cent over the following year to reach $96,030.

Former title holder Ottawa-Gatineau fell to third place, recording a 0.8 per cent gain to $94,230.

Saskatchewan's largest cities, Regina and Saskatoon, rounded out the top five.

The study compared 33 metropolitan areas in Canada.

Nationally, median total family income increased by 1.7 per cent to $74,540 during the same period.

A report early this week found Calgary has six of the country's 25 richest neighbourhoods, and that the city's Britannia neighbourhood also boasts the highest average annual income in Canada, at $1.45 million.

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