13 Most Expensive Neighbourhoods in Canada

Most Expensive Neighborhoods Canada
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Maybe you've recently come into some money. Perhaps you've won the jackpot. As a result, you may be looking to buy property in a better neighbourhood, but where to go? We've looked at the best areas in Canada and where you'll fit in if you're in the financial position to rub shoulders with the country's elite.

Canada is not short of exclusive, affluent neighbourhoods, with Alberta, British Columbia, Ontario, and Quebec all hosting elite areas on our list.

We suppose it depends on what's important to you - amenities, historical elements, vistas, natural attractions, medical and educational institutions, sports clubs or famous neighbours are all included to make these Canadian neighbourhoods as elite and affluent as they are.

What follows is a list of 13 of Canada's most expensive neighbourhoods. We have compiled the list according to the respective residents of each neighbourhood's average household net worth.

These are Canada's 13 most expensive neighbourhoods:

#13. Roxboro (Calgary, Alberta)

The suburb of Roxboro nestles only a short distance from Stampede Park, home of the Calgary Stampede, the self-proclaimed Greatest Outdoor Show on Earth. The Elbow River flows to its north, and Rideau Park, another elite suburb, lies to its west. 

Established in 1923 in the southwest quadrant of Calgary, Alberta, Roxboro celebrates its centenary next year, and numerous original buildings still stand in the suburb. Roxboro is one of Calgary's wealthiest neighbourhoods and has no low-income residents.

Average annual household income: $810,000

Average household net worth: $7.37 million

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#12. King George Park (Montreal, Quebec)

Previously named Murray Hill, King George Park, one of the wealthiest neighbourhoods in Westmount, Montreal, was renamed after a royal visit by George, King of England and his wife Elizabeth in 1939.

Many residents still call King George Park by its previous name due to their ongoing affection for William Murray, who had sold a percentage of his farm to the city during the 1920s.

In the central part of King George Park are tennis courts, a dog-walking park, a basketball court and a paddling pool for children. A world-renowned Westmount architect, Robert Findlay, designed a sanitary block pavilion that stands together with the other amenities.

Average annual household income: $534,971

Average household net worth: $7.57 million

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#11. Upper Mount Royal (Calgary, Alberta)

Upper Mount Royal, between 34th Avenue and Colborne Crescent, is one of Calgary's western suburbs. On completion of the Calgary and Edmonton Railway in 1891, Mount Royal became a settling point for many travellers. The neighbourhood was, at one stage, known as American Hill due to US business people in Calgary choosing to set up homes there.

Upper Mount Royal is home to some of the most expensive estates in Calgary. Some of the older estates in Upper Mount Royal date back over a century ago.

Average annual household income: $930,000

Average household net worth: $7.61 million.

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#10. Elbow Park (Calgary, Alberta)

Aptly named Elbow Park due to its location on a bend of the Elbow River, the neighbourhood was annexed to Calgary in 1907 and developed in 1910. It is one of the oldest and most affluent neighbourhoods in Calgary, with the community served by Elbow Park and William Reid Elementary schools. 

The entertainment park in the neighbourhood has facilities, including a playground, tennis courts, and a skating rink. Community events, including the annual 'Movie in the Park' night, are held in the park for fundraising purposes, administered by the Elbow Park Residents Association.

Average annual household income: $480,000

Average household net worth: $7.61 million.

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#9. Britannia (Calgary, Alberta)

Settlers founded Calgary's most elite neighbourhood along the Elbow River's east bank in 1952. Right from the beginning, Britannia began as an affluent area, with many properties sold back then for up to 20 times the average Calgary property value. 

With stunning views of the Rocky Mountains in the distance, wealthy immigrants flocked to the neighbourhood, and many remain part of the Britannia community today. Most of the property development took place shortly after the neighbourhood's formation, with these homes still forming the majority of dwellings.

Average annual household income: $1.45 million

Average household net worth: $7.92 million.

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#8. West Vancouver (Vancouver, British Columbia)

Birds chirping all day, vibrant plant life and greenery, and the complete lack of bustling city noise all indicate a peaceful living environment, and that's what you'll have after buying property in West Vancouver. The spacious homes overlook scenic outside vistas making it unsurprising that the average house price is $3.17 million.

You'll undoubtedly be fortunate if you buy a property in West Vancouver because of the city's growth rate of luxury properties. The $8.96 million household net worth will go up over the course of the next few years, making it a profitable proposition for you to consider selling your house if you want.

Average Annual household income: $289,808

Average household net worth: $8.96 million

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#7. Summit Park (Montreal, Quebec)

Quebec's priciest neighbourhood is Summit Park, located on the northwest side of the city of Westmount. It consists of numerous elevated mansions overlooking Westmount, with most of the residents being English-speaking Quebecers. The neighbourhood is just below the Westmount summit, which includes thick woods perfect for hiking.

One of the main attractions close to the neighbourhood is the Summit Woods Bird and Wildflower Sanctuary. The city of Westmount bought this 23-hectare sanctuary in 1940, and many bird watchers believe it to be one of the best vantage points in Canada.

With its near-perfect vista, Summit Park is one of Montreal's most exclusive and sought-after neighbourhoods.

Average annual household income: $810,000

Average household net worth: $10.76 million

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#6. Forest Hill (Montreal, Quebec)

Forest Hill is one of Toronto's most affluent neighbourhoods, complete with Forest Hills has picturesque old houses dating back to the 1920s, and, in Spadina Road, some luxury condominiums modernize the neighbourhood. Forest hill consists of two sections, Forest Hill North and Forest Hill South, both being affluent sub-neighbourhoods.

Forest Hill is also home to some of the most respectable schools in Toronto. Educational experts regard Upper Canada College and Bishop Strachan School as among the top Canadian private schools. Another school, Forest Hill Collegiate Institute, has its own claim to fame: the world-famous rapper Drake was once at school there.

Residents of Forest city range from celebrities and top entrepreneurs to doctors and lawyers. 

Average annual household income: $944,000

Average household net worth: $11.6 million.

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#5. Shaughnessy Heights (Vancouver, British Columbia)

Named after 1st Baron Thomas Shaughnessy, president of the Canadian Pacific Railway between 1899 and 1918, Shaughnessy Heights is a mainly residential neighbourhood of the city. The community includes many heritage houses from the early to mid-20th century and two nearby shopping centers for residents to enjoy.

Shaughnessy Heights hosts two hospitals and the renowned VanDusen Botanical Garden. The neighbourhood is also home to the Point Grey Secondary school, which counts famous actor Seth Rogan as one of its alums.

Average annual household income: $1.02 million

Average household net worth: $11.82 million

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#4. Kerrisdale Park (Vancouver, British Columbia)

Kerrisdale Park is a lush West Vancouver neighbourhood with a burgeoning real estate market. Originally called Kerry Dale after the Scottish suburb of Kerrydale, the community formed around a mainline railway stop in 1867, with many Chinese immigrants from Hong Kong making up the initial residency numbers.

The neighbourhood includes a mixture of both budget and luxury homes. The existing community is responsible for increasing the larger Kerrisdale neighbourhood's income and net worth averages when included in its statistics. 

Average annual household income: $1.28 million

Average household net worth: $12.85 million

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#3. York Mills-Windfields (Toronto, Ontario)

Toronto neighbourhoods fill the top three positions on our list of Canada's wealthiest.

The first of these is York Mills-Windfields. York Mills-Windfields got its name from several different mills that developed along the Don River during the 19th century. The neighbourhood comprises the communities of Hoggs Hollow, St. Andrews-Windfield, and Banbury, all deemed elite.

York Mills-Windfields comprises many modern condominiums and offices and is one of the most expensive neighbourhoods in the city. It is famous for its luxurious houses, with English cottage-style family homes and Tudor architecture intermingled with ranches, split-level properties, and ever-increasing new developments.

Average annual household income: $1.21 million

Average household net worth: $21.55 million.

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#2. Bridle Path (Toronto, Ontario)

With good reason, the Bridle Path neighbourhood belongs to Canada's Millionaires Mile. The suburb's property values average $2.24 million, and numerous celebrities have made their homes in Bridle Path. 

One of the most famous streets in Bridle Path is Park Lane Circle, with famous names, including Sir Elton John, Richard Nixon, Margaret Thatcher, Drake, Gordon Lightfoot, and Prince, all resident there at some point. Many houses date back to the 1930s, with a mix of Tudor, Neo-Gothic, and modern homes prominent in the suburb.

Average annual household income: $1.1 million

Average household net worth: $22.27 million.

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#1. Sunnybrook (Toronto, Ontario)

A well-known horseman and owner called Joseph Kilgour owned Sunnybrook farm and built several stables in the area. After Kilgour died, his widow Alice donated the farm to the city. The neighbourhood grew around the original farm, then a city park, and as a result, horse ownership and riding have remained a popular pastime among the neighbourhood's residents.

Sunnybrook adjoins Bridle Path on its Southern border.

With many experts in medical professions moving to the area, the demand from people for property increased, and Sunnybrook has now become the most expensive neighbourhood in Canada. 

Average annual household income: $1 million

Average household net worth: $22.71 million

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Other Notable Mentions:

British Properties (Vancouver, British Columbia)

Some breathtaking mansions nestle on the lower mountain slopes of North Vancouver, quite some way from downtown. The neighbourhood is called British Properties, and although it doesn't make the list, it is worth a mention as an area that gives an impression of affluent living from the very first glimpse.

Although it's not too far from the city, visitors need to hop on a boat or cross a bridge to reach this exclusive neighbourhood.

West Bay and Sandy Cove (Vancouver, British Columbia)

Although we've mentioned four other Vancouver neighbourhoods in this article, it wouldn't be properly complete without noting West Bay and Sandy Cove, a smaller community found within West Vancouver.

West Bay and Sandy Cove's affluence comes from its waterfront setting, with picturesque mansions providing stunning ocean views from their beachside positions.

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Lexington Avenue (Montreal, Quebec)

Lexington Avenue is the name of a small street in Westmount, Montreal. Although not really classified as a neighbourhood, which is why it doesn't make our list, it deserves mention as a number of wealthy and elite residents call Lexington Avenue home.

Lawrence Park North (Toronto, Ontario)

This tiny sub-neighbourhood previously ranked as the most wealthy in Canada, with good reason. An array of impressive homes and large mansions make Lawrence Park North an elite area to live in, with residents evidently very wealthy.

Home to the renowned Rosedale Golf Club, Lawrence Park North was formed at the turn of the last century and, from the beginning, attracted aristocratic landowners. It encourages exclusive living, with the illustrious Granite Club also in the vicinity.

Aberdeen and Forden (Montreal, Quebec)

Aberdeen and Forden are affluent sister sub-neighbourhoods that lie within Westmount, Montreal. Residents of both fall into the high-earning bracket, and vast mansions and other luxurious buildings litter the areas.

The land itself is worth a pretty penny, and the constant development of new, high-priced homes indicates solid growth in the area. There are several existing older homes, too, with owners that haven't changed for decades.

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