Living Better in Paris

Find out which is the wealthiest arrondissement in Paris!

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Paris, the City of Light, is about romance, history and elegance. It is well known not only for its captivating attractions but also for its remarkable socio-economic wealth. Today, we're exploring Paris from a new angle and answering the frequently asked question: which is the wealthiest arrondissement in Paris?

Before diving into this topic, we'd like to take you on a journey through the different districts of Paris. Also, for those looking for an apartment to rent in Paris's desirable neighborhoods, we're delighted to introduce you to PARIS RENTAL Agency, your reliable experts in long-term furnished apartment rentals in Paris. With Paris Rental's in-depth knowledge of the city and its exceptional service, you will find your dream apartment rental in Paris' most sought-after neighborhoods, and this article will show you which is the richest arrondissement in Paris.

1. Overview of Paris arrondissements

Paris, the capital of France, is divided into 20 administrative districts called "arrondissement" in French. Each arrondissement has its character, attractions, and history, contributing to the city's diversity. This diversity raises the question: which is the richest arrondissement in Paris?

History and administrative division of arrondissements in Paris

The division of Paris into arrondissements dates from a French law in 1795 during the French Revolution. The original division had 12 arrondissements, with nine on the Right Bank and three on the Left Bank of the Seine River. This arrangement was in place from 1795 until 1860.

However, in 1860, during the reign of Napoleon III, Paris was expanded to its current limits, and the number of arrondissements increased to 20. This expansion was a part of the major renovation project led by Georges-Eugène Haussmann, commonly known as Haussmann's renovation of Paris. The new arrondissements helped to accommodate the growing population and to provide a more organized and efficient administrative structure for the city of Paris.

The importance of location when renting an apartment in Paris

The location is always one of the most crucial factors when looking for an apartment for rent in Paris. It can significantly impact your future lifestyle, convenience, and pleasure living in Paris. Whether you're looking for a peaceful neighborhood, easy access to public transport, or a lively area with a bustling nightlife, the right location is vital to meeting your needs.

Paris, in particular, offers an incredible diversity of districts, each with its unique atmosphere and charm. That's where Paris Rental Agency's expertise comes in. As a specialist in furnished apartment rental in the city's best neighborhoods, Paris Rental understands the crucial importance of location for its expat and corporate clients.

2. Wealth ranking criteria in Paris

What are the wealth indicators?

Wealth indicators can vary from region to region and are often used to assess the economic well-being of an area. In the context of Paris, several wealth indicators, such as average income, property prices, education level, and standard of living, can give an idea of the wealth of different arrondissements. 

Average income by arrondissement in Paris:

Higher average incomes in a given arrondissement often indicate a more affluent population. According to statistics from "Bien dans ma ville" in 2022, residents of the 7th arrondissement (51 813 €/year) and 8th arrondissement (52 336 €/year) of Paris have the highest average income, while the 18th arrondissement has the lowest average of 13 100 €/year.

Property prices by arrondissement in Paris: 

Property prices can be a good indicator of wealth. Arrondissements, where Real Estate values are high, often attract wealthier residents. On the other hand, locations close to famous landmarks like the Eiffel Tower and Arc de Triomphe tend to have higher property prices. According to statistics from Lefigaro, the 6th arrondissement (€16,419/m2) and the 7th arrondissement (€16,035/m2) have the highest average property prices in Paris. And the 19th arrondissement (€9,173/m2) has the lowest average property prices in Paris.

3. Top 5 richest arrondissements in Paris

The ranking of the wealthiest arrondissements in Paris can vary according to the criteria used. However, according to numerous studies and analyses, here are generally the top five most expensive arrondissements in Paris:

16th Arrondissement (Paris 16e):

On the western side of Paris, bordering the Bois de Boulogne, the classic old-money 16th arrondissement of Paris was long considered to be the wealthiest district in Paris and one of the most expensive neighborhoods to live in Paris as well. It's renowned for its upscale and exclusive reputation, wide avenues, magnificent Haussmann buildings, embassies, prestigious private schools, and wealthy residents. Some of the most prestigious neighborhoods are the upscale Passy and Victor Hugo areas of the 16th arrondissement, where average prices rise to 12 340 € per square meter.

8th Arrondissement (Paris 8e):

The 8th arrondissement of Paris is home to the Elysée Palace (the official residence of the French President), Avenue des Champs-Elysées, Arc de Triomphe, Grand Palais, and some of Paris's most luxurious hotels, designer boutiques, fine gastronomy restaurants, fancy bars, and clubs; undeniably, it is one of Paris's most expensive districts. Its high living standard appeals to affluent families, expats, and professionals alike. Being neighbors with the Plaza Athénée, the prestigious Avenue Montaigne, in particular, stands out as one of the most expensive neighborhoods in the 8th arrondissement, reaching 18 073€ per square meter.

7th Arrondissement (Paris 7e):

The 7th arrondissement is famous for the Eiffel Tower and is home to numerous government and diplomatic institutions. It's also renowned for its elegant apartments and affluent residents.

6th Arrondissement (Paris 6e):

The 6th arrondissement of Paris, particularly the Saint-Germain-des-Prés neighborhood, is well known for its intellectual and artistic atmosphere. It's home to art galleries, antiquarian bookstores, restaurants, and top-notch cafés such as Café de Flore and Les Deux Magots. The average cost per square meter in the 6th arrondissement runs to 14,500 euros, while apartments in the most sought-after streets can reach up to 22,000 euros per square meter, such as Rue de Furstenberg (€22,582 m²), Rue Guynemer (€22,483 m²), and Place Saint-Sulpice (€21,982 m²).

4th Arrondissement (4e):

The 4th arrondissement of Paris, particularly the Le Marais neighborhood, is an eclectic mix of art galleries, trendy fashion boutiques, and historic sites. Thanks to the fashion and art crowd attracting a wealthy population, it has become chic.

Paris Rental Agency is privileged in Paris's most sought-after and affluent arrondissement. Its high-end clientele, such as embassies, international organizations, and multinational corporations, appreciate a service specialized in Luxury Apartment Rentals in Paris.

4. What is the richest arrondissement in Paris?

The 7th arrondissement is the wealthiest and most prestigious in Paris, renowned for its elegance, wide tree-lined avenues, historic buildings, and concentration of wealthy residents, embassies, consulates, and government institutions. The Left Bank area in the 7th arrondissement features beautiful streets such as Rue du Bac, Rue de Verneuil, and Rue de Grenelle. Famed residents such as late fashion designer Karl Lagerfeld (Quai Voltaire), musician Serge Gainsbourg (rue de Verneuil), and Mick Jagger (rue Sébastien-Bottin) have certainly contributed to the neighborhood's renown.

Why is the 7th arrondissement the richest in Paris?

Residents of the 7th arrondissement have the highest average income in Paris, at €51,813/year. 

Also, the average property price in the 7th arrondissement is €16,846 per square meter. The average property price in Paris is €10,689 per square meter, making the 7th arrondissement around 50% more expensive.

Concerning the education level, 51.2% of inhabitants in Paris' 7th arrondissement have completed five or more years of higher education, according to statistics published by the French National Institute of Statistics and Economic Studies (INSEE) in 2020.

What is the wealthiest neighborhood in Paris' 7th arrondissement?

The 7th arrondissement comprises four neighborhoods/quartiers: Gros Caillou, Invalides, École Militaire, and Saint Thomas d'Aquin. The Gros Caillou is the richest neighborhood in Paris' 7th arrondissement and all of Paris.

The Gros Caillou neighborhood, located between Les Invalides and the Eiffel Tower on the left bank, is home to some of the city's most affluent residents. According to Insee data, Gros Caillou is the neighborhood with the highest living standards in Paris. To be among the top 10% of earners in the 7th arrondissement, a single person must earn at least 264,500 euros yearly (or 22,000 euros monthly after taxes and social benefits).

Rue Cler

Paris Rental offers an exclusive range of luxury furnished apartment rentals in the prestigious 7th arrondissement of Paris. Here are just a few of the apartments available, each offering a unique blend of comfort, elegance and modern conveniences:

5. Why live in the 7th arrondissement - the richest neighborhood in Paris?

Living in Paris' 7th arrondissement, one of Paris' wealthiest, offers an exceptional living experience thanks to many advantages in terms of amenities, culture, parks, schools, and more. Here's why you should choose to rent an apartment in the 7th arrondissement of Paris and the upscale experience offered by Paris Rental:

  • Luxury Amenities: The 7th arrondissement is home to many luxury boutiques, Michelin-starred restaurants, exclusive spas, and other upscale services, offering luxurious and convenient daily living.
  • Culture and Art: Renowned museums such as the Musée d'Orsay and the Musée Rodin are located in the 7th arrondissement, offering easy access to world-renowned art exhibitions.
  • Parks and green spaces: The Champ de Mars and Les Invalides offer plenty of green spaces for you to relax and enjoy in the hustle and bustle of the city.
  • Prestigious schools: The 7th arrondissement is home to renowned private schools, international bilingual schools, and higher education establishments such as EIB Grenelle International School and Sciences Po, offering students an exceptional education.
  • Proximity to government and diplomatic institutions: As a neighborhood of embassies and ministries such as Les Invalides, Assemblée Nationale (National Assembly), Hôtel Matignon - the official residence of the Prime Minister of France, Ministry of Foreign Affairs, UNESCO Headquarters, New Zealand and Swiss embassies, the 7th arrondissement provides a welcoming, international environment ideal for expatriates and professionals.

Paris Rental Agency specializes in luxurious, long-term furnished apartment rentals in the 7th arrondissement. Their apartment rentals offer splendid interiors, modern amenities, and breathtaking views of Paris's iconic monuments, such as the Eiffel Tower.

6. What are the other uprising neighborhoods in Paris?

Except for these classic wealthy neighborhoods, some other arrondissements in Paris are gaining in popularity because of their unique charm and dynamic atmosphere.

The 10th Arrondissement of Paris:

The 10th arrondissement of Paris has become the home of Paris' creative youth, known for its trendy cafés, vintage shops, art galleries, and bohemian atmosphere. Notably, the Canal Saint-Martin neighborhood attracts many new residents with its beautiful quays and exciting outdoor activities, perfect for expatriates and young professionals seeking a contemporary lifestyle in a lively area.

The 11th Arrondissement of Paris

The 11th arrondissement of Paris, comprising the Oberkampf and Bastille neighborhoods, is renowned for its vibrant nightlife, diverse restaurants, bars, clubs, vintage boutiques, and theaters. It attracts culture lovers and young entrepreneurs alike. 

By adapting to these trends, Paris Rental diversifies its rental portfolio to embrace rental properties in these trendy arrondissements, responding to its international clientele's varied and ever-changing needs. 

Choosing the right arrondissement in Paris is essential, as it directly influences your future quality of life. Whether you're looking for tranquility, a lively city life, easy access to schools, or an artistic vibe, each arrondissement in Paris offers a unique experience. Considering your needs, preferences, and budget is crucial when making this important choice.

Paris Rental understands this importance. Their commitment to providing premium apartments for rent in the best areas of Paris is a statement of excellence. By offering elegant, comfortable apartments in sought-after locations, they ensure that every tenant can experience the refinement and charm of Paris. 

 

Editor: Siyi CHEN

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