The Richest Suburb in Adelaide in 2024

June 12, 2024
richest suburb in adelaide

Key takeaways:

  • Medindie is the richest suburb in Adelaide with a median house price of $2,987,500 and offers exclusive estates and top schools.
  • Toorak Gardens and Unley Park are affluent suburbs known for their historic homes, peaceful environments, and proximity to the CBD.
  • Malvern and Tusmore provide a mix of charm and convenience, with leafy streets, friendly communities, and easy access to shopping and parks.
  • Hyde Park stands out for its upscale shopping and dining on King William Road, prestigious schools, and beautifully designed homes.

Are you curious about the richest suburb in Adelaide? Let’s dive into the details of this vibrant city and uncover where the wealthiest residents call home.

Adelaide might not have the same buzz as Sydney, but its property market is on the rise. Over the past year, the median house prices in Adelaide’s top suburbs have soared by almost 80%.

This city offers a mix of contemporary arts, culture, and stunning natural beauty, making it an increasingly desirable place to live.

What is the richest suburb in Adelaide in 2024

Taking first place is Medindie! the wealthiest suburb in Adelaide, known for its exclusive estates and proximity to top schools. This table provides an at-a-glance look at where Adelaide’s wealthiest residents live and what makes these suburbs so desirable.

The Richest Suburbs in Adelaide (2024)

SuburbMedian House PriceKey Features
Medindie$2,987,500Exclusive inner northern suburb, historic estates, top schools, close to CBD
Toorak Gardens$1,916,000Peaceful residential area, bungalows, local amenities, 15 mins from CBD
Unley Park$2,605,000Historic mansions, close to conveniences, upscale shopping, dynamic community
Malvern$2,800,000Leafy suburb, jacaranda-lined streets, friendly community, 10 mins from CBD
Tusmore$2,080,000Safe and quiet, country feel, Tusmore Park, close to Burnside Village
Hyde Park$2,525,000King William Road shopping, prestigious schools, lush streets, modern homes

And keep reading to find out the richest Adelaide suburbs following Medindie.


House for sale in Medindie, South Australia

Median house price: $2,987,500 

Nested in the very exclusive inner northern Adelaide. Take a drive around the suburb and expect to find historic estates and newly built mansions. Medindie is where you’ll find the most expensive house in Adelaide, which sold for over $10 million in 2021.

South Australia isn’t the richest state in Australia, because of its limited natural resources and small population, but Adelaide is definitely the up and coming city in the country.

More and more people are uncovering its offering so finding new properties on the market isn’t easy—they’re so tightly held that eager buyers can wait years to fulfil their dream of a Victorian home with a blue ribbon address.

This is also where you’ll find some of Adelaide’s most expensive schools, like Wilderness (a private girls school) and St Peter’s College (a private boys school)—a predilection for many young families.

Just a 5-minute drive away from the Adelaide CBD, you’re in a peaceful suburb on the periphery of gorgeous city parklands, while being close to the hustle and bustle of the centre.

Conveniences, however, are best found in your neighbouring suburb, North Adelaide.

One surprising characteristic of Medindie is its positioning under Adelaide’s main flight path. So you might get some noise disturbances but clearly not enough to deter hopeful buyers!

Check out more properties for sale in Medindie SA 5081

Toorak Gardens

House for sale in Toorak Gardens, South Australia

Median house price: $1,916,000 

It seems like the general consensus for Toorak Gardens is ‘it’s a lovely place to live if you can afford it!’

You get a lot of peace and quiet in this residential suburb, sitting adjacent to Rose Park. Bungalows and quaint single-storey villas are speckled neatly along tree-lined streets.

You’re fifteen minutes away from the CBD here but if you need to get your shopping done you can head to a small precinct of shops. You’ll find a local cinema, the Toorak Burnside Bowling Club and a few cafes and restaurants which are popular with the locals.

Check out more properties for sale in Toorak Gardens.

Unley Park

richest suburb in adelaide
House for sale in Unley Park, South Australia

Median house price: $2,605,000

Unley Park held first place only a few years ago.

Victoria Avenue, long considered Adelaide’s most expensive street, is famous for gorgeous historic mansions built between the First and Second World War.

If you’re looking for a peaceful, suburban environment, this might be the suburb for you. And the plus side? Conveniences. Unlike other expensive suburbs, Unley Park is shorter distance from your daily needs like supermarkets and restaurants, but also notable fitness centres.

More upscale shopping, from wedding gowns to artisanal chocolate are practically in your backyard. Which is why many will argue that this suburb has better accessibility than Toorak Gardens.

Unley Park is constantly changing, with new members of the communities and fresh builds happening often. But don’t worry, you’ll get to meet your new neighbours at the annual street party at the beginning of the year.

Check out more properties for sale in Unley Park.


House for sale in Malvern, SA

Median house price:  $2,800,000

Touted as a charming, leafy suburb, Malvern is one of Adelaide’s most coveted neighbourhoods. A walk through the jacaranda-lined streets will allow you to admire the well kept facades and a tremendous amount of curb appeal. One of the reasons why this suburb is popular for investment properties in Adelaide.

The community, a mix of well-heeled professionals, families and retirees alike, is friendly and welcoming, and you can find them at any of the cosy cafes along Unley Road. They’re the types who live an unhurried lifestyle which means greeting strangers will become a habit!

Close proximity to the city offers easy access by car, about a ten minute drive, or by reliable public transport (15 minutes by bus).

Check out more properties for sale in Malvern.


richest suburb in adelaide
Apartment for sale in Tusmore, South Australia

Median house price: $2,080,000

Located in the inner east is the 5th richest suburb in Adelaide. Residents will tell you they love the safe, quiet streets and warm community.

If you’re looking for a slower pace of life and a country feel, consider Tusmore. The Tusmore Park, for one, is where neighbours will gather throughout the year.

With a children’s paddling pool, large grassy fields for sports, tennis courts, bbq pits and dining areas, it’s the biggest communal spot in the suburb.

The river of First Creek runs through it, although it dries in the summer, and provides a lovely, bountiful feel to this spot of nature in the capital city.

And to satisfy your desires for shopping, you can take a short drive to Burnside Village, where they have a Coles, gourmet food stores, fashion, pharmacies and tons of other amenities.

Check out more properties for sale in Tusmore.

Hyde Park

richest suburb in adelaide
House for sale in Hyde Park, South Australia

Median house price: $2,525,00

Hyde Park is a charming suburb in Adelaide’s inner south region. It’s famous for King William Road, which features some of the city’s best shopping and dining which is just five minutes from Adelaide’s CBD.

Attracting affluent families, it features prestigious private schools like Walford Anglican School for Girls and St. Thomas School.

Not unlike the other suburbs on this list, it is loved for the lush, leafy streets and lovely parks—an attractive feature which often means a bigger price tag.

Homes are modern, beautiful and thoughtfully designed. Find chic urban living in renovated cottages and impressive, historic builds. It’s rare to find rental properties here with most residents either buying their homes or having them passed on through generations.

Check out more properties for sale in Hyde Park.

Looking for more homes in Adelaide?

Searching for more homes for sale in Adelaide or for where to buy investment properties in Adelaide?

We don’t just have properties for sale in the richest suburb in Adelaide, we have thousands of available listings for any budget. Just head to to set up your match profile and find your next dream home.

FAQ Section on ‘The Richest Suburb in Adelaide in 2024’

What are the best suburbs to invest in Australia 2024?

The most promising suburbs for investment in Australia in 2024 include Manly and Parramatta in NSW, along with Newcastle and Wollongong in regional NSW. Additionally, Fortitude Valley and South Brisbane in QLD are considered top choices.

What is the richest suburb in Adelaide?

Medindie, located in Northern Adelaide, is considered the richest neighborhood in the city. As of 2023, its median house price stood at $2,950,000, with a median apartment unit price of $543,000. Households in Medindie typically earn an average weekly income of $3,750.

Which suburbs will boom in Adelaide?

For 2024, the top Adelaide suburbs expected to experience growth include Bridgewater, Virginia, Osborne, Somerton Park, Angle Vale, Underdale, Christies Beach, and Munno Para West.

Where is the best place to buy in Australia 2024?

In 2024, the best places to buy in Australia are Sydney suburbs like Wiley Park and Kensington. In South East Queensland, Caloundra West and Southport are top picks, along with Carlton and Moonee Ponds in Melbourne.

Soho is your expert team in Australian real estate, offering an innovative platform for effortless property searches. With deep insights into buying, renting, and market trends, we guide you to make informed decisions, whether it's your first home or exploring new suburbs.
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