The Average Net Worth Of People That Live In Dubai

Dubai is a city known for luxury. Commonly referred to as the "Las Vegas of the Middle East," largely due to the fact it's also in the middle of a desert and has a vast array of entertainment options, people travel far and wide in order to experience the allure of this urban oasis. That said, while Dubai is certainly a highly sought after tourist destination, it is also a tax haven for some of the world's wealthiest people. This is because Dubai is centered in the United Arab Emirates, a country that is 100% tax free.

This being the case, you might assume that everyone in Dubai is in the top 10% of net worth. However, according to the 2023 Global Wealth Report from UBS, the average amount of wealth per adult in the UAE was roughly $150,000. Meanwhile Salary Expert found that the average salary of Dubai residents, in particular, was closer to $180,000 AED a year (around $49,000 USD.) Knowing this, it seems to be a common misconception that everyone in Dubai is rich. With that said, the number of wealthy residents is undeniably growing, with an increasing number of high net worth individuals making the decision to migrate to Dubai.

According to Henley and Partners' World's Wealthiest Cities Report for 2025, Dubai has moved up No. 18 on this list in recent years. The report also found that there are over 81,000 millionaires currently living in Dubai, as well as 237 individuals with a net worth over $100 million (centi-millionaires), and 20 billionaires. To add to this, a 2024 report from Boston Consulting Group's (BCG), as reported by Zawya, found that the UAE in general had an unprecedented amount of high net-worth individuals. Specifically, individuals with over $100 million in assets made up 29% of the UAE's total wealth, compared to the global average of 14%.

The Henley and Partners report also found that in, the last decade, the amount of millionaires who live in Dubai has grown by 102%.  However, with Dubai being home to around 3 million people as of 2024, it's clearly not the case that every single one of them is ultra rich. In fact, despite the high percentage of high net-worth individuals in the UAE, the 81,257 millionaires currently living in Dubai specifically only make up about 2.7% of its total population. So if you're someone wondering how your net worth compares to other people, remember that luxurious surrounding does not always equate with wealth.

Seeing how Dubai has such a high concentration of high net worth individuals, it would be fair to assume that the city must be pretty expensive to live in. However, despite the fact that it is indeed home to over 100 of the wealthiest people on the planet, the cost of living in this Middle Eastern city is actually far more affordable than you might think. For starters, the average cost of a one bedroom apartment in the heart of the city is around $2,225 as of 2024, according to data from Numbeo. While this is more than the average rent price in the U.S. (which, according to Zillow, is around $1,850 as of May 2025), compared to a major U.S. city like New York, where the average rent price is around $4,000, it's not nearly as bad.

However, if you decide to live in an apartment outside of the city center, the cost of rent drops dramatically. For example, a 1 bedroom apartment of this nature will cost closer to $1,400 instead, or about $400 lower than the U.S. national average. Outside of this, Numbeo data suggests that average monthly expenses, as of 2025, will be somewhere around $1,100 for one person, and consists of basic necessities such as healthcare, food, gas, and any other miscellaneous things you might require in your daily life such as a home gym or gym membership.