Gables Estates Surpasses Beverly Hills as America’s Wealthiest Neighborhood
August 28, 2025When most people think of America’s most exclusive real estate, Beverly Hills usually comes to mind. But new data reveals that the nation’s priciest neighborhood is now right here in South Florida.
Gables Estates, a private, gated community in Coral Gables, has officially taken the top spot as the most expensive neighborhood in the United States. According to nypost.com, home values in this elite waterfront enclave have surpassed those in Beverly Hills, long considered the ultimate symbol of luxury living.
Florida Dominates the Luxury Market
The report highlights a significant shift: seven of the ten most expensive neighborhoods in the country are now located in Florida, with only three in California. This reflects a long-term trend of wealth migration to the Sunshine State, particularly in Miami-Dade, Broward, and Palm Beach counties. Between 2017 and 2022 alone, over $14 billion in income flowed into Florida, with more than $9 billion settling in these three counties.
South Florida has become known as “Wall Street South” as both individuals and businesses seek out the region for its favorable tax structure, lifestyle, and strong cultural and economic growth. Coral Gables stands out in particular thanks to its walkability, world-class amenities, and timeless architectural charm.
Why Gables Estates Leads the Pack
What sets Gables Estates apart is its unique combination of privacy, waterfront living, and community prestige. Developed nearly a century ago, the neighborhood now includes about 160 to 180 properties, each with access to Biscayne Bay through a private canal system. The area is secured with 24/7 armed guards both on land and water, offering unmatched peace of mind to its residents.
To join the community, prospective homeowners must pay a $100,000 non-refundable application fee to the Gables Estates Club. Listings often exceed $20 million, and some have even pushed past the $21 million mark. Beyond its price tag, however, the neighborhood offers something money can’t always buy: tranquility, exclusivity, and a lifestyle built around both luxury and connection to the water.
Miami and Palm Beach: Global Wealth Hubs
The surge in luxury real estate across South Florida isn’t limited to Coral Gables. A global wealth report recently ranked both West Palm Beach and Miami among the fastest-growing wealth hubs in the world, outpacing even New York City. Over the past decade, West Palm Beach has seen millionaire growth of 112%, while Miami has recorded an increase of 94%.
This trend underscores a broader movement of ultra-high-net-worth buyers choosing Florida not just for vacation homes, but as permanent residences where they can enjoy favorable tax conditions, vibrant culture, and year-round sunshine.
America’s Most Expensive Neighborhoods
Zillow’s latest rankings show the dominance of Florida luxury real estate:
- Gables Estates, Coral Gables, FL
- Port Royal, Naples, FL
- Old Cutler Bay, Coral Gables, FL
- Beverly Hills Gateway, Beverly Hills, CA
- The Flats, Beverly Hills, CA
- Shady Canyon, Irvine, CA
- San Marino Island, Miami Beach, FL
- Bear’s Club, Jupiter, FL
- Palm Island, Miami Beach, FL
- Rivo Alto Island, Miami Beach, FL
Meanwhile, the most affordable neighborhoods were found in Mississippi, Louisiana, and Michigan, with average home values below $30,000.
As the luxury market continues to evolve, Florida is clearly setting the pace. For those looking to buy or sell in Coral Gables, Miami, or beyond, understanding these market shifts is essential. The Algarin Group is committed to keeping you informed with the latest real estate news, insights, and opportunities.
With Gables Estates now crowned as America’s wealthiest neighborhood, one thing is clear: South Florida isn’t just competing with Beverly Hills—it’s redefining luxury living in the United States.
source: nypost.com
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