Rich Suburbs in Melbourne: Guide to the City's Most Luxurious Areas

Ever wondered where Melbourne's elite call home? Buckle up for a posh adventure as we explore Melbourne's "Millionaire's Row," unveiling the rich suburbs in Melbourne that are more than just expensive postcodes. As the capital of Victoria, it’s natural to be curious about which suburbs are the wealthiest in Melbourne. Curious to know which areas in Melbourne cut our list of most expensive suburbs in Melbourne? Join us on this journey through the rich areas in Melbourne, and get ready for the comprehensive information you’ll need.

Top 10 Rich Suburbs in Melbourne 

These prestigious neighbourhoods represent the cream of Melbourne's residential landscape, each offering unique character while maintaining the luxury standards that define effortless living. From beachside mansions to tree-lined heritage streets, these suburbs showcase why Melbourne consistently ranks among the world's most liveable cities. Whether you're curious about where celebrities live or planning your future student accommodation in Melbourne, these areas provide fascinating insights into social geography and cultural diversity.

1. Toorak

Nearby universities: Deakin University, Swinburne University of Technology

Toorak stands as Melbourne's most prestigious suburb, consistently ranking among Australia's most expensive residential areas. Chapel Street serves as the commercial heart of this established neighbourhood, featuring high-end retail, fine dining establishments, and some of the best cafes in Melbourne that cater to discerning residents. This suburb represents the most expensive area in Melbourne, with grand Victorian and Edwardian mansions alongside contemporary architectural developments. Students may find opportunities here through internships with luxury businesses or tutoring services for families who prioritise educational excellence, making Toorak one of Melbourne's richest suburbs.

2. South Yarra

Nearby universities: University of Melbourne, RMIT University (Brunswick Campus)

South Yarra successfully combines residential prestige with urban accessibility, making it highly sought after by young professionals and students alike. The suburb offers excellent transport connections to Melbourne's CBD while maintaining its distinctive character through boutique shopping precincts and dining establishments. These expensive suburbs in Melbourne benefit from their proximity to the Royal Botanic Gardens and the Yarra River, providing residents with premium recreational facilities and scenic environments. 

3. Brighton

Nearby universities: Monash University (Caulfield Campus), Holmesglen Institute of TAFE

Brighton exemplifies Melbourne's coastal luxury market, where substantial properties combine traditional architectural styles with modern amenities. The suburb's beachfront location provides residents with direct access to Port Phillip Bay while maintaining convenient connections to Melbourne's commercial centres. The famous Brighton Beach Boxes represent the area's heritage and community character, while the broader suburb offers excellent educational facilities and recreational opportunities. Brighton's reputation as one of the rich neighborhoods in Melbourne stems from its unique combination of coastal lifestyle and its exciting nightlife in Melbourne. The area also ranks among Melbourne safest suburbs due to its low crime rates and strong community engagement.

4. Malvern

Nearby universities: Deakin University (Burwood Campus), Monash University (Caulfield Campus)

Malvern represents understated elegance in Melbourne's eastern suburbs, where heritage architecture and established gardens create an atmosphere of refined living. The suburb's multiple railway stations provide excellent accessibility to Melbourne's CBD and surrounding areas, supporting its appeal to professional residents. This rich place in Melbourne attracts families and professionals who value educational opportunities, and the stability associated with established, well-maintained neighbourhoods.

5. Canterbury

Nearby universities: University of Melbourne, La Trobe University

Canterbury has established itself as a premier family-oriented suburb, where spacious properties and excellent educational facilities create a serene environment. The suburb's commitment to maintaining its leafy character and community atmosphere makes it highly desirable among Melbourne's professional families. Burke Road provides commercial services and speciality retail that serve the local community. Students often find opportunities in Canterbury through tutoring services and childcare roles, as these rich suburbs in Melbourne prioritise educational excellence and family welfare. The suburb is recognised as one of the safest neighbourhoods in Melbourne with strong community networks and low crime statistics.

6. Kew

Nearby universities: RMIT University, La Trobe University

Kew occupies a prominent position along the Yarra River, where Federation and Edwardian architecture create one of Melbourne's most photogenic residential areas. The suburb's historical significance and architectural heritage contribute to its enduring appeal among discerning property buyers and cultural enthusiasts. Studley Park provides extensive recreational facilities. Kew's cultural institutions, boutique shopping, and professional services create a sophisticated environment that appeals to successful professionals and established families, securing its place among Melbourne's most expensive suburbs.

7. Hawthorn

Nearby universities: Swinburne University of Technology, Melbourne University

Hawthorn demonstrates how educational institutions can enhance suburban prestige, with Swinburne University contributing to the area's intellectual and cultural atmosphere. This unique combination of academic presence and residential luxury creates opportunities for students while maintaining the suburb's sophisticated character. Glenferrie Road offers student-friendly amenities alongside upmarket retail and dining establishments, creating a diverse commercial environment that serves various community needs. The suburb's period homes and leafy streets provide an attractive residential setting that proves rich suburbs in Melbourne can successfully integrate educational facilities with luxury living.

8. Camberwell

Nearby universities: Deakin University (Burwood Campus), Monash University (Caulfield Campus)

Camberwell exemplifies the concept of quiet luxury, where consistent property values and family-focused amenities create a stable, desirable residential environment. The suburb's eastern location provides convenient access to Melbourne's business districts while maintaining a peaceful, suburban atmosphere. Burke Road Shopping Centre serves as the commercial heart of Camberwell, and speciality dining establishments that cater to its professionals. The suburb's emphasis on education and family welfare creates opportunities for students seeking tutoring or childcare positions within established, professional households.

9. Richmond

Nearby universities: RMIT University, Victoria University

Richmond represents the accessible edge of Melbourne's luxury market, where urban renewal has created a dynamic residential environment. Bridge Road and Swan Street offer diverse dining, entertainment, and cultural experiences that reflect the suburb's evolving character. This inner-city area demonstrates how industrial heritage can be successfully transformed into contemporary residential and commercial developments. Richmond's proximity to Melbourne's CBD, combined with its cultural attractions and diverse housing options, makes it an important inclusion in any discussion of rich suburbs in Melbourne.

10. Glen Iris

Nearby universities: Monash University (Caulfield Campus), Deakin University (Burwood Campus)

Glen Iris concludes our examination of rich suburbs in Melbourne as a family-oriented suburb that successfully balances residential prestige with community values. The area's excellent schools, extensive parkland, and solid property values create an environment that attracts families who prioritise stability and long-term investment potential. High Street functions as Glen Iris's commercial centre, providing boutique shopping and dining experiences that foster community engagement and local commerce. The suburb's quiet residential streets, combined with its accessibility to major universities and employment centres.

What Makes These Suburbs Melbourne's Elite?

These affluent areas share common threads that elevate them above ordinary neighbourhoods. Prime location is one of the most important aspects, as most enjoy proximity to the CBD, prestigious schools, or natural features. Infrastructure quality sets them apart through well-maintained streets, beautiful parks, and high-end shopping precincts that cater to sophisticated tastes. The presence of quality educational institutions, both schools and universities, makes these areas particularly magnetic for families investing in their children's futures. These 10 most expensive suburbs in Melbourne all share these premium characteristics.

Student Opportunities in Wealthy Areas

Understanding Melbourne's rich suburbs in Melbourne isn't just academic curiosity, as it also opens doors to practical opportunities. These areas offer excellent part-time jobs in Melbourne, which include prospects in hospitality, retail, and tutoring, exposing you to professional networks that could benefit your future career. Many wealthy neighbourhoods provide affordable student accommodation in Melbourne on their fringes, allowing students to enjoy proximity to prestige without premium price tags. Areas like Richmond, parts of South Yarra, and Hawthorn offer student-friendly accommodation like Scape La Trobe and Realm Caulfield while maintaining access to Melbourne's most desirable locations. Students can consider these suburbs for internships, work placements, or cultural experiences.

Melbourne's rich suburbs in Melbourne offer more than expensive real estate; they're windows into the city's character, history, and opportunities. From Toorak's unapologetic luxury to Richmond's accessible elegance, these premium areas showcase different approaches to affluent living. Students looking for student accommodation in Melbourne can find these rich suburbs in Melbourne as their jumpstart to an exciting life in Melbourne.