The highest number of rich-listers live in the 2088 postcode in Sydney - which includes Mosman and Spit Junction - with 19,707 people earning $188,324, on average. In comparison, there were just 559 people in the 3944 Portsea postcode in Victoria's Mornington Peninsula, earning an average of $229,805 per year.
With 126,900 millionaires, Sydney made it to number 10 with the report noting especially strong growth in wealth in the Harbour City over the past 20 years, making it Australia's wealthiest city. It's also predicted to reach the top 5 wealthiest cities in the world by 2040.
More on the wealthy states within Australia
The Australian Capital Territory (ACT) has the highest average income among Australian states and territories, due to its strong public administration and professional services sectors. New South Wales also has a high average income, higher than the rest of the states.
In the centre of Sydney's east, some of Sydney's most awe-inspiring properties are nestled within Bellevue Hill's green hills. It takes out the title as the most expensive suburb in Australia, and for good reason. A meander through the suburb's spectacular streets says it all.
Forbes' real-time data shows that as of June 2023, there are 48 Australian billionaires on the list of the world's richest people.
No suburb in the country features a greater concentration of members of The List – Australia's Richest 250 than Toorak, where Melbourne's wealthiest families have gathered for decades. Think historic looking mansions guarded by large hedges set back from the street to ensure privacy.
THE LIST. Australia's richest person, Gina Rinehart, is the daughter of iron-ore explorer Lang Hancock. Rinehart made her wealth rebuilding Hancock Prospecting, becoming chair in 1992 when her father died.
Sydney Is Still Australia's Most Expensive Place To Live, but Melbourne and Brisbane Are Not Far Behind.
Mungallala Methodist Church was built in 1964. It has now closed. In 2016, the Australian Taxation Office listed Mungallala as having the lowest mean taxable income by postcode, making it the poorest town in Australia, which led the ABC to do a documentary on the town for their online "storyhunters" program.
SEIFA summarises geographical areas on relative advantage or disadvantage. Woorabinda and Cherbourg have been ranked the most disadvantaged LGAs in Australia. Woollahra in Sydney's eastern suburbs is the nation's most advantaged area.
North America, Europe, and Asia-Pacific are the regions with the highest levels of economic development, while Africa and parts of Asia and South America are the regions with the lowest levels.
The richest country in the world is Luxembourg.
Top 10 cities around the world with the most billionaires
New York City topped the list with 136 billionaires in 2022. The city's uber-rich population lost two people from 2021 to 2022, but it's still the global billionaire capital.
Millionaire's paradise. Australia had 2.18 million US-dollar millionaires in 2021, or 3.5 per cent of the global total. Only seven countries – the US, China, Japan, Britain, France, Germany and Canada – had more millionaires than Australia.
New York City came out on top of the world's wealthiest cities list with 340,000 millionaires, ahead of Tokyo with 290,300, and San Francisco's Bay Area with 285,000. San Francisco had the most billionaires, with 63, compared with New York's 58.
Hobart the least affordable city in Australia for renters, putting average income households into rental stress and hurting pensioners and young people.
Loyola, Los Altos, California
The richest neighborhood in America is Loyola, California. The average household income in Loyola is $326,069, with the median income a little lower at $246,563. The median listing price is $3,899,000. Loyola also borders Los Altos Hills, which is one of the richest towns in America.
Darwin is Australia's least populated place. The city has a population of 148,564 and a density of 703 people/sq km.
What is the most expensive house in the Australia? The most expensive house in Australia is the Scottish baronial mansion, Uig Lodge, which was sold for $130 million in 2022 in Sydney's Point Piper. It is one of the most luxurious houses in Australia.
Sydney is the most expensive cities for renters with the median unit price coming in at $670 per week, followed by Canberra ($550 per week), Brisbane ($530 per week), and Darwin ($515 per week).
The valuations of Gina Rinehart ($37.41 billion) and Andrew Forrest ($33.29 billion), the richest and second-richest Australians for the fourth year in a row, surged 10 per cent and 8 per cent respectively as listed-market analysts re-rated their outlook for red Pilbara dirt.