Double Bay, Australia

Capital City

With a population of just 4,709, Double Bay is one of the most exclusive and expensive suburbs in all of Australia. The average household income here is a staggering $3,077, over 75% higher than the national average. But this affluence comes at a price - the median rent is $720 and the average monthly mortgage is $3,000, putting housing well out of reach for most Australians.

The area's high-end shopping district along New South Head Road features designer labels and upscale restaurants, catering to the moneyed class that calls Double Bay home. However, the bureaucracy around owning property here can be a persistent headache, with residents often complaining about the red tape involved.

If you're a wealthy individual looking to live among Sydney's elite, Double Bay may be the place for you. But for the average Australian, this harbourside suburb is simply too expensive and exclusive to be a practical option.