Quite simply put – Westmount is home to the richest Montrealers. It is also the second richest neighborhood in all of Canada! It’s where the affluent of Montreal live.
Throughout history, height has been important to the wealthy, as it represents the idea that the wealthy are above others. Even the word ‘palace’ is derived from Palatine Hill in Rome where the wealthiest Romans lived in ancient times.
In Montreal, there is Westmount – the town at the westernmost peak of Mount Royal. Despite being surrounded by average Montrealers, residents aim to keep their area distinct from poorer urban areas.
If you journey to this affluent municipality, you may be in for a surprise. The wealth is obvious with larger homes, beautifully kept gardens, and even higher-quality sidewalks. Even their city hall is stately.
Westmount is by far the wealthiest neighborhood on Montreal island. A study showed just how wealthy its residents really are. The MoneySense study named Westmount the second wealthiest place in Canada.
It fell behind only to West Vancouver.
The ‘average household net worth’ in Westmount is just shy of $4 million, which beats other Montreal neighborhoods by a landslide. FYI, Montreal has one of Canada’s lowest median salaries!
Times are changing, and real estate prices are starting to rise in many areas across Montreal. Could the rest of the city catch up to Westmount? Not likely but we can hope.