{"id":132507,"date":"2016-08-04T19:15:15","date_gmt":"2016-08-04T17:15:15","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=132507"},"modified":"2016-08-04T17:53:58","modified_gmt":"2016-08-04T15:53:58","slug":"how-many-households-in-south-africa-earn-more-than-r200000-per-month","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/wealth\/132507\/how-many-households-in-south-africa-earn-more-than-r200000-per-month\/","title":{"rendered":"How many SA households earn more than R200,000 per month"},"content":{"rendered":"

A report\u00a0 by Standard Bank shows that more than 10 million households (10 193 205) in South Africa earn less than R7,167 per month,while a small elite population earns more than R196,668 per month.<\/p>\n

The bank notes that 62.3% of households fall within the poorest income bracket \u2013 below R86,000 per annum, while middle income groups, who earn R86,001 \u2013 R1.48 million per annum – comprise a combined 26.4% of South African households.<\/p>\n

The wealthiest households only account for 1.2% (R1.48 million \u2013 R2.36 million+ per annum), with those who earn more than R2.36 million, account for 0.4% of the household population – or 65,964 households.<\/p>\n

Read: What you need to know about South Africa\u2019s middle class<\/a><\/strong><\/p>\n

In the 2011 Census, StatsSA said that were about 14.5 million households<\/b> in South Africa – 77.6% lived in formal dwellings, 7.9% in traditional and 13.6% live in informal dwellings. <\/span><\/p>\n

StatsSA put the average household income is R103,204<\/strong> per year, or R8,600<\/strong> per month.
\n<\/span><\/p>\n

Using data from the Bureau of Market Research (BMR), Standard Bank said that the number of households in SA now stands at approximately 16.363 million.<\/p>\n

BMR puts the annual income classification of the South African consumer at:<\/p>\n

\n
\n\n\n\n\n\n\n\n\n\n\n
Income brackets<\/th>\nNumber of Households<\/th>\nIncome per HH per month<\/th>\n<\/tr>\n
R0 – R19,000<\/td>\n18.2%<\/td>\nR0 – R1,583<\/td>\n<\/tr>\n
R19,001 – R86,000<\/td>\n44.1%<\/td>\nR1,584 – R7,167<\/td>\n<\/tr>\n
R86,001 \u2013 R197,000<\/td>\n16.3%<\/td>\nR7,168 \u2013 R16,417<\/td>\n<\/tr>\n
R197,001 – R400,000<\/td>\n10.1%<\/td>\nR16,418 – R33,333<\/td>\n<\/tr>\n
R400,001 – R688,000<\/td>\n5.9%<\/td>\nR33,334 – R57,333<\/td>\n<\/tr>\n
R688,001 – R1,481,000<\/td>\n4.3%<\/td>\nR57,334 – R123,417<\/td>\n<\/tr>\n
R1,481,001 – R2,360,000<\/td>\n0.8%<\/td>\nR123,418 – R196,667<\/td>\n<\/tr>\n
R2,360,001+<\/td>\n0.4%<\/td>\nR196,668+<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

According to Standard Bank, only 5.5% of South African households potentially have the ability to save, as they have positive net income balances each month.<\/p>\n

Affluent households (R2,360,001+) meanwhile, have a savings potential of a as much as 65% of their after-tax income.<\/p>\n

\n
\n\n\n\n\n\n\n\n\n\n\n
HH income per month<\/th>\nNo. of Households<\/th>\nAfter tax income per per month<\/th>\n<\/tr>\n
R0 – R1,583<\/td>\n2 977 559<\/td>\nR679.22<\/td>\n<\/tr>\n
R1,584 – R7,167<\/td>\n7 215 646<\/td>\nR3,594<\/td>\n<\/tr>\n
R7,168 \u2013 R16,417<\/td>\n2 662 541<\/td>\nR10,923<\/td>\n<\/tr>\n
R16,418 – R33,333<\/td>\n1 647 979<\/td>\nR23,688<\/td>\n<\/tr>\n
R33,334 – R57,333<\/td>\n961,010<\/td>\nR43,784<\/td>\n<\/tr>\n
R57,334 – R123,417<\/td>\n696,659<\/td>\nR78.756<\/td>\n<\/tr>\n
R123,418 – R196,667<\/td>\n135,549<\/td>\nR148,824<\/td>\n<\/tr>\n
R196,668+<\/td>\n65,964<\/td>\nR449,925<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

On an individual basis, Credit Suisse estimates that South Africa\u2019s 50,000 dollar millionaires make up 0.16% of its adult population \u2013 meaning South Africa\u2019s top 1% is around 310,000 people.<\/p>\n

More on wealth in SA<\/h3>\n

This graph shows how we spend our money each month in South Africa<\/strong><\/a><\/p>\n

What you need to know about South Africa\u2019s middle class<\/strong><\/a><\/p>\n

How much you\u2019re worth in every province in South Africa<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A report by Standard Bank shows that more than 10 million households (10 193 205) in South Africa earn less than R7,167 per month,while a small elite population earns more than R196,668 per month.<\/p>\n","protected":false},"author":10,"featured_media":128287,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9880],"tags":[26,499],"class_list":["post-132507","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wealth","tag-headline","tag-standard-bank"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/132507","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=132507"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/132507\/revisions"}],"predecessor-version":[{"id":132525,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/132507\/revisions\/132525"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/128287"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=132507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=132507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=132507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}