In a city renowned for its diverse neighborhoods and varying degrees of affluence, one London area has taken the lead in shattering income barriers. This particular district has achieved what was once an unprecedented feat in the UK. With an average income of £100,000 it seems to attract more affluent residents than anywhere else in the entire country.
According to data from the Office for National Statistics (ONS), the first neighborhood in the UK to witness average household incomes exceeding £100,000 was apparently Clapham Common. This data, though from 2020, is among the most recent released by the ONS, as they only publish these figures every few years, focusing on specific areas in England and Wales with a population of 5,000 or more.
In general, West London emerged as the wealthiest region in England, with the City of London coming in second after Clapham Common West, boasting an average household income of £101,800.
So, why Clapham? Well, one reason is its central location and excellent connectivity to the City of London. This area has long been favored by young professionals aged between 25 and 34 who share living spaces with peers in similarly high-paying jobs.
The income figures for Clapham Common were roughly three times the national average and significantly higher than the neighborhood with the lowest average household income. For comparison, households in Grimsby East Marsh and Port reportedly earn an average of just £22,200 per year.
However, it’s important to note that while Clapham Common residents may have high incomes, they might not necessarily have the most disposable income when factors like housing costs, taxes, and variations in household sizes are taken into account. According to the ONS, Hans Town in Kensington and Chelsea was identified as the neighborhood with the highest disposable income.