N.B. Families Need To Earn $50K To Get By: StatCan

An analysis by Statistics Canada released on Jan. 17 shows New Brunswick families need to earn upwards of $50,000 per year to survive.

The agency’s Market Basket Measure establishes poverty thresholds based on the cost of a basket of food, clothing, shelter, transportation and other items for a family of four.

All these indicators reflect “a modest, basic standard of living.”

“A family with a disposable income below the appropriate MBM threshold for the size of the family and the region where they live is deemed to be living in poverty,” reads the report by StatCan.

In its report, the agency says Fredericton is the most expensive city to live in at $50,238 per year.

 Moncton ranks second at $48,055 per year, while Saint John placed third at $47,728 per year.

Meanwhile, rural New Brunswick needed to earn $46,665 per year to live. In areas with populations of fewer than 30,000 people, families required a salary of $48,379 per year.

Regions with a population between 30,000 and 99,999 needed $48,124 per year.

The cost of food was the most expensive for rural areas, registering at $15,120 per year ($1,260 per month). The cheapest regions were in Moncton, at $14,150 per year ($1,179.17 per month).

Housing costs are also ranked as the most expensive in the Fredericton area, equalling $14,503 per year ($1,208.58 per month).

Cheaper housing was available in rural New Brunswick, which StatCan says stands at $10,183 per year ($848.58 per month).

You can read the full report here.

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