No suburb in the country features a greater concentration of members of The List – Australia's Richest 250 than
1. 2028: Double Bay (NSW) And coming in at the top of the list is (surprise surprise) another suburb in Sydney's east: Double Bay. The suburb of 3352 taxpayers has an average taxable income of a whopping $266,381 – almost four times as much as the national average.
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.
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.
Australians wanting to be in the country's top 1% for wealth need to have an individual net worth of US$5.5 million ($8.3 million), Knight Frank's 2023 Wealth Report has found.
More Coverage. The eye-watering wealth on display in the report is a stark difference to most Australians' perception of what it takes to be considered rich. The Finder survey which asked 1000 people what it took to be rich and found that earning $336,516 per year was the magic number.
People in the census's very top income bracket, like you, earn at least $156,000 a year — or $3,000 a week — before tax. At census time, there were about 596,531 people in Australia above that income level — or 3.8 per cent of income earners.
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.
1. Atherton, CA. The richest city in the US is Atherton, California.
The richest Aussies live in Sydney, ATO data has found.
Next on the list was the 2030 postcode - which includes Dover Heights, HMAS Watson, Rose Bay North, Vaucluse and Watsons Bay - with residents earning $230,597 per year, on average.
Bellevue Hill, Sydney
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.
New York City came in at no. 1 on the list. The report found that from 2012 to 2022, the city had a 40% growth in its population of high-net-worth individuals. According to Henley & Partner's report, NYC is home to 340,000 individuals worth over $1 million, 724 centi-millionaires, and 58 billionaires.
Forbes' real-time data shows that as of June 2023, there are 48 Australian billionaires on the list of the world's richest people.
Hobart the least affordable city in Australia for renters, putting average income households into rental stress and hurting pensioners and young people.
Australians collected a higher median wealth per adult than anywhere else in the world at $US273,900 ($A390,870) – nearly three times the median wealth of $US93,270 ($A133,100) in the US. Australia was followed on the rich list by Belgium and New Zealand, with the US trailing behind at number 18.
1. Sydney. Modern and sophisticated, Sydney is one of the best cities for tourists to visit on a tour to Australia. With fantastic beaches and the Blue Mountains on the doorstep, you will love Sydney if you enjoy the great outdoors.
The Australian middle class has a median household income of AUD$80,000. This statistic is a key indicator of the financial health of the Australian middle class.
Most high-income earners believe income of $454,000 makes an upper class household, while middle earners believe $280,000 is enough to be counted as upper class. However, low-income households that participated in the study believe $549,000 is enough to be considered upper class.
Location – With some parts of Australia (namely: the big cities) having significantly higher costs of living than suburban or remote areas, your location is likely the biggest factor in this discussion. Experience – For someone starting out in their career, $60k is a reasonable pay.
If your taxable income was $131,501 or higher, then you earned more than 90 per cent of other Australians. If you earned more than $253,066, then you took home more than 99 per cent of taxpayers. About 5 per cent of taxpayers had incomes above $180,000.