People are naturally fascinated with the rich. Some may be green with jealousy, and some may like to fantasize about walking in their shoes for a while. With every mansion you pass by or see on the T.V. or the internet, you’ve got to think; “what’s it like?” To those of us who were brought up in more modest financial situations it’s natural to look at a big nice house with some pretty cars parked in front and wonder about that lifestyle which seems so drastically different from our own.
Canada is home to some of the nicest neighbourhoods and most breathtaking views in the world. So where do Canada’s rich live? Well they’re pretty much all over the country. You can find exclusive neighbourhoods in any major city. But this list focuses on the best of the best. These are Canada’s top ten richest neighbourhoods.
10 Sunnyside & Edgehill, Westmount, Montreal – Average Household Net Worth: $9.37 million
With a population of a little over 1.64 million Montreal is Canada’s second most populated city behind Toronto. Westmount, located in the Greater Montreal area is one of the city’s most luxurious areas. The neighbourhoods of Sunnyside and Edgehill are some of the wealthiest and most beautiful in Canada. With an average household income of $503,935 and an average house price of $2.49 million the residents of Sunnyside & Edgehill are certainly well off, and apparently pretty adventurous with close to 20 per cent of the area’s inhabitants being downhill skiers.
9 Lexington Avenue, Westmount, Montreal – Average Household Net Worth: $9.96 million
Yet another Westmount neighbourhood, Lexington Avenue comes up just ahead of their Sunnyside & Edgehill neighbours on the list. Residents of Lexington Avenue have the privilege of being within walking distance of the famous Saint Joseph’s Oratory. The basilica – which stands as the largest church in Canada – is not only an iconic landmark but serves as one of the primo viewpoints in all of Montreal, offering a beautiful view of the city. With an average home price of $1.80 million and an annual household income of $590,695 residents are certainly blessed.
8 Lawrence Park North, Toronto – Average Household Net Worth: $10.44 million
Although developed in the early 1900s Lawrence Park did not fully develop until the end of the Second World War. The neighbourhood – which was ranked as the wealthiest in all of Canada back in 2011 - is home to people such as Toronto Blue Jays president Paul Beeston and Four Seasons founder Isadore Sharp. Residents of Lawrence Park also have the luxury of living right next to the popular shopping districts of Yonge Street and Lawrence Avenue. Their average annual household income is a staggering $906,266 but then it’d have to be with the average home costing a pretty $2.81 million.
7 Kerrisdale, Vancouver – Average Household Net Worth: $10.59 million
Kerrisdale has the distinction of being British Columbia’s second most wealthy neighbourhood. Located near a shopping district as well as the University of British Columbia, Kerrisdale has a unique variety of inhabitants. From the very wealthy, to high-class professionals, all the way to undergrads renting out basement suits, Kerrisdale is home to nearly 15,000 people. Despite a portion of its residents being students, the average annual income ranks second on this list at close to $1.28 million along with an average home price of $2.79 million.
6 Forest Hill South & UCC, Toronto – Average Household Net Worth: 10.63 million
Formerly a village, Toronto’s Forest Hill was amalgamated into Toronto back in 1967 and has since become one of the city’s wealthiest areas. Forest Hill has been home to people like the late Ted Rogers of Rogers Communications as well as famous rapper Drake. Forest Hill is also home to Upper Canada College, a private school that’s produced six lieutenant-governors and three Ontario premiers. Forest Hill maintains an annual household income of $629,972 with houses costing $3.18 million on average.
5 Summit Park, Westmount, Montreal – Average Household Net Worth: $11.00 million
Another Westmount entry on the list, Summit Park is Quebec’s richest neighbourhood located right at the edge of Westmount. The neighborhood is located on one of the city’s highest peaks. The land on the Westmount Summit near Summit Park was previously owned by the University of McGill. In the early 20th century they donated the land which later became a bird sanctuary, home to over 180 different species of birds for all nature enthusiasts in the area to enjoy. Residents of Summit Park make more than their Sunnyside & Edgehill and Lexington Avenue counterparts on this list, with an average household annual income of $906,659 and an average home price of $2.40 million.
4 Shaughnessy Heights, Vancouver – Average Household Net Worth: $12.00 million
Shaughnessy Heights boasts one of the highest average house price on this list with the average home setting you back $3.09 million. Home to almost 3000 households, Shaughnessy was created back in 1907 by the Canadian Pacific Railway as an alternative to Vancouver’s East End. Over 50% of these madly expensive homes were built before the Second World War, and with homes costing as much as they do residents will need every bit of their $777,184 average household income to pay them off.
3 Sunnybrook, Toronto – Average Household Net Worth: $20.82 million
Toronto’s Sunnybrook area boasts an average home price of $2.29 million coupled with an average household income of $311,979. The area was once the estate of Joseph Kilgour, a well-known horseman who operated a paper box company. As a result horse riding is a popular pastime in the area, which is home to multiple stables and beautiful horses. And in the unlikely event that an accident should occur, the Sunnybrook Hospital is practically right next door to the lucky residents of Sunnybrook.
2 York Mills-Windfields, Toronto – Average Household Net Worth: $21.55 million
The York Mills neighbourhood in North York is certainly high class, being recognized as part of Toronto’s Millionaires’ Row alongside neighbourhoods such as Forest Hill, Lawrence Park and The Bridle Path. Canadian philanthropist E.P. Taylor was once among the inhabitants of York Mills’ Windfields area. His home – which he donated later on in his life – would become the Canadian Film Centre. Almost one third of York Mills’ inhabitants live in apartments reaching five stories or more, with the average house costing $3.40 million, the most expensive in all of Canada. But with an average annual household income of over $1.2 million the residents of York Mills can definitely afford it.
1 The Bridle Path, Toronto – Average Household Net Worth: $22.27
Up till 1929 the now lavish and luxurious Bridle Path in Toronto was nothing more than some farmland. As Canada’s richest neighbourhood, the Bridal Path is made up almost entirely of mansions, costing around $2.24 million on average. Those who inhabit the lush Toronto dwelling make an average income of $936, 137 a year. The Bridle Path has been home to well-known celebrities such as American singer-songwriter Prince and Canadian singer-songwriter Celine Dion, to infamous businessman Conrad Black and media mogul Moses Znaimer, co-founder and former head of the broadcast television network “Citytv”.