Canadian Business has released their annual ranking of Canada’s richest neighbourhoods, presented in two charts: the 10 most expensive neighbourhoods and the top 10 neighbourhoods with the highest incomes.
Using data from the former, we’ve created a graphic comparing the most expensive neighbourhoods for real estate with the average annual net worth of their residents.
The data shows that while Toronto’s York Mills-Windfields neighbourhood may be the most expensive in the country, it’s far more affordable, on average, for residents to live in than West Bay and Sandy Cove in West Vancouver. (Although there really is no unaffordable neighbourhood for someone with an annual net worth of $8.19 million.)
But that’s only if you consider the average household annual net worth. Take a look at Canadian Business’ chart on the top 10 neighbourhoods with the highest incomes and you’ll find a number of areas that aren’t among the most expensive. Indeed the neighbourhood with the highest annual income is not in any of Canada’s three largest cities, rather, it’s Britannia in Calgary.
The Canadian Business rankings are based on figures compiled using publicly available census data as well as Environics Analytics market intelligence. You can see each list in its entirety here.