What you need to earn to be in your Melbourne suburb's top 1 per cent
In Melbourne's richest suburb, typical income earners make $81,000 a year. But the top 1 per cent of income earners in that area make one-and-a-half times that – in a single week.
Analysis of Australian Bureau of Statistics personal income data by this masthead reveals that the top 1 per cent of income earners in Toorak earn almost $7.5 million a year on average, making it Melbourne's only suburb where the top 1 per cent of income earners rake in more than $5 million a year on average.
Use the zoom controls on the map below to view the average income among the top 1 per cent of your suburb, along with the median and average income there. You can also find your Victorian suburb's data in a searchable table further down in this article, as well as a version of this map that displays the data for the rest of the state.
In the Greater Melbourne region there are 60 suburbs where the top 1 per cent earn between $1 million and $5 million on average, ranging from Flinders at the tip of the Mornington Peninsula to Woodend on the northern peri-urban fringe, but most of them are clustered in the inner-east.
Hawthorn South has the second-highest average income among its 1 percenters, where they recorded an average annual income of almost $4.9 million. South Yarra's west is third on Melbourne's rich list - its 1 per cent earn $4.3 million on average. Both of these suburbs share a border with Toorak.
Berwick North, 40 kilometres south-east of the CBD, is fourth on the list, but a way behind. The suburb's top 1 per cent earn just shy of $3 million a year on average. In some neighbourhoods, the average income among the top 1 per cent is skewed higher by a few incredibly high earners – the top 0.1 per cent – driving up the average.
The top 1 per cent of earners across Greater Melbourne make an average of $810,000 annually. That compares with an average annual income for all earners in the city of $75,000; the median income (the middle value of all earners) was $56,000.
KPMG urban economist Terry Rawnsley said the distribution of wealth to Melbourne's eastern suburbs aligned with proximity to high-paying jobs, along with some of the city's best local amenities, including access to transport and schools.
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More than $16 billion was wiped from superannuation balances at the start of the year as uncertainty over Donald Trump's tariffs impacted Australians' net worth. The nation's collective household wealth grew by 0.8 per cent to $17.3 trillion in the first three months of 2025, the Australian Bureau of Statistics reported on Thursday. But it would have increased by more if not for the value of super accounts falling for the first time since September 2022 as global uncertainty weighed on share prices, ABS head of finance statistics Mish Tan said. The increase in wealth was again mainly driven by an increase in residential property values, which rose 1.2 per cent to $125.3 billion. House prices have rebounded from a brief slowdown at the end of 2024 as interest rate cuts boosted buyer demand. With as many as three more cuts predicted by December, and market expectations rising for the next one as soon as July, property values are set to keep growing. Superannuation balances fell by 0.4 per cent, or $16.4 billion, as Mr Trump's tariff threats sparked fears of trade disruption and slower economic growth. Equity markets reacted even more violently when Mr Trump unveiled his "liberation day" tariffs on April 2, but share prices have since recovered as tensions eased between the US and China. However, the US president poses another risk to super funds. The $4.2 trillion industry has warned that a section of Mr Trump's proposed "big beautiful bill" would include a "revenge tax" on investors from countries that have imposed taxes on US investors and companies the administration deems unfair. With more than $600 billion of investments parked in the US, super funds have warned the tax could deal a multibillion-dollar hit to returns. In a conversation with his US counterpart, Treasurer Jim Chalmers on Wednesday urged Scott Bessent to spare Australian investors. "We do not want to see our investors and our funds unfairly treated or disadvantaged when it comes to developments out of the US Congress," Dr Chalmers said. "And once again, I'm very grateful to Scott Bessent for hearing me out and for also undertaking to make what progress he can to try and resolve these issues. I'm confident he understands these issues." With more demand for mortgages, household borrowing grew 1.4 per cent, or $2.4 billion, reducing the overall growth in wealth by 0.2 percentage points. "The RBA's cash rate cut in February this year was the first easing of interest rates since November 2020, giving some relief to household budgets in the March quarter through lower mortgage interest payments," Dr Tan said. "We expect to see the broader impact of recent cuts, including another in May, on house prices and credit growth later this year." Three of Australia's big four banks predict the Reserve Bank will cut interest rates by 25 basis points at its next meeting on July 8 following better-than-expected inflation numbers. Despite predictions of inflation remaining steady, headline inflation for May fell to 2.1 per cent from 2.4 per cent the previous month, driven by a drop in the cost of fuel and rental prices. Trimmed mean inflation, which removes volatile price movements, dropped from 2.8 per cent to 2.4 per cent. Westpac analysts joined those from NAB and Commonwealth Bank in bringing forward their next forecast for rate cuts to July, with ANZ the last holdout of the big four tipping August. But Westpac chief economist Luci Ellis said a July cut was no shoo-in, with Australia's tight labour market and slow productivity growth still making the Reserve Bank uneasy about inflation pressures. A 25 basis point reduction in the cash rate would shave $90 off monthly repayments for a mortgage holder with a $600,000 loan. More than $16 billion was wiped from superannuation balances at the start of the year as uncertainty over Donald Trump's tariffs impacted Australians' net worth. The nation's collective household wealth grew by 0.8 per cent to $17.3 trillion in the first three months of 2025, the Australian Bureau of Statistics reported on Thursday. But it would have increased by more if not for the value of super accounts falling for the first time since September 2022 as global uncertainty weighed on share prices, ABS head of finance statistics Mish Tan said. The increase in wealth was again mainly driven by an increase in residential property values, which rose 1.2 per cent to $125.3 billion. House prices have rebounded from a brief slowdown at the end of 2024 as interest rate cuts boosted buyer demand. With as many as three more cuts predicted by December, and market expectations rising for the next one as soon as July, property values are set to keep growing. Superannuation balances fell by 0.4 per cent, or $16.4 billion, as Mr Trump's tariff threats sparked fears of trade disruption and slower economic growth. Equity markets reacted even more violently when Mr Trump unveiled his "liberation day" tariffs on April 2, but share prices have since recovered as tensions eased between the US and China. However, the US president poses another risk to super funds. The $4.2 trillion industry has warned that a section of Mr Trump's proposed "big beautiful bill" would include a "revenge tax" on investors from countries that have imposed taxes on US investors and companies the administration deems unfair. With more than $600 billion of investments parked in the US, super funds have warned the tax could deal a multibillion-dollar hit to returns. In a conversation with his US counterpart, Treasurer Jim Chalmers on Wednesday urged Scott Bessent to spare Australian investors. "We do not want to see our investors and our funds unfairly treated or disadvantaged when it comes to developments out of the US Congress," Dr Chalmers said. "And once again, I'm very grateful to Scott Bessent for hearing me out and for also undertaking to make what progress he can to try and resolve these issues. I'm confident he understands these issues." With more demand for mortgages, household borrowing grew 1.4 per cent, or $2.4 billion, reducing the overall growth in wealth by 0.2 percentage points. "The RBA's cash rate cut in February this year was the first easing of interest rates since November 2020, giving some relief to household budgets in the March quarter through lower mortgage interest payments," Dr Tan said. "We expect to see the broader impact of recent cuts, including another in May, on house prices and credit growth later this year." Three of Australia's big four banks predict the Reserve Bank will cut interest rates by 25 basis points at its next meeting on July 8 following better-than-expected inflation numbers. Despite predictions of inflation remaining steady, headline inflation for May fell to 2.1 per cent from 2.4 per cent the previous month, driven by a drop in the cost of fuel and rental prices. Trimmed mean inflation, which removes volatile price movements, dropped from 2.8 per cent to 2.4 per cent. Westpac analysts joined those from NAB and Commonwealth Bank in bringing forward their next forecast for rate cuts to July, with ANZ the last holdout of the big four tipping August. But Westpac chief economist Luci Ellis said a July cut was no shoo-in, with Australia's tight labour market and slow productivity growth still making the Reserve Bank uneasy about inflation pressures. A 25 basis point reduction in the cash rate would shave $90 off monthly repayments for a mortgage holder with a $600,000 loan.
