Melbourne's Millionaires: A Stark Look at Income Inequality Across Suburbs

Melbourne's Income Divide: A Suburb-by-Suburb Look at the Top 1% Melbourne, Australia – A new analysis by The Age, using data from the Australian Bureau of Statistics (ABS), reveals a stark income disparity across Melbourne's suburbs. The study focuses on the average income of the top 1% of earners in each suburb, highlighting a significant gap between affluent areas and more modest communities. In Toorak, one of Melbourne's wealthiest suburbs, the top 1% of earners average an astounding $7.5 million annually. This contrasts sharply with Bacchus Marsh, where the top 1% earns $403,000. "The difference is dramatic," says a spokesperson for The Age. "It underscores the significant economic inequality within the Greater Melbourne region." The analysis also identified 60 suburbs where the top 1% of earners fall within the $1 million to $5 million range. This suggests a more moderate level of wealth concentration compared to Toorak's extreme figures, but still represents a considerable income gap compared to the broader population. The Age's interactive map allows users to explore income data for various suburbs, providing a detailed picture of economic diversity across the city. The data used is from the most recent financial year available, offering a current snapshot of economic conditions in Greater Melbourne. The study serves as a reminder of the significant economic disparities that exist within even a relatively prosperous city like Melbourne.