America’s richest neighborhood is not where you might expect.

August 19, 2025

Coral Gables Takes the Crown in Expensive Neighborhood Rankings

A new neighborhood is making headlines for dethroning Beverly Hills as the most expensive area in the U.S.

Gables Estate, a small gated community in Coral Gables, Florida, has recently climbed to the top of Zillow’s list of the priciest neighborhoods based on household valuations over the last year.

This marks a notable shift, as Beverly Hills has long been synonymous with affluence.

“What sets Gables Estate apart is its privacy, sophistication, and overall livability. Beverly Hills doesn’t quite compare in that regard,” said Fernando de Nunez Y Lugones, the CEO and co-founder of Vertical Development. He adds that, “While Beverly Hills is esteemed for its name and legacy, Gables Estate is really about the lifestyle and experience, drawing in ultra-wealthy buyers consistently.”

Interestingly, seven of the ten most valuable neighborhoods are located in Florida, with the remainder in California.

“This trend isn’t just a fleeting moment,” Lugones remarked. “Last year, Coral Gables actually surpassed Beverly Hills, which makes sense as buyers and businesses are migrating for lifestyle reasons, tax benefits, and a better environment overall. South Florida is increasingly seen as ‘Wall Street South.’

Zillow’s Home Value Index utilizes a variety of metrics, including sales data and public records, to help gauge property values in various neighborhoods.

The Greater Miami area has seen a significant rise in wealth migration, especially in the aftermath of the COVID pandemic.

From 2017 to 2022, over $14 billion entered Florida, with more than $9.2 billion allocated to Palm Beach, Broward, and Miami-Dade counties.

Moreover, the 2025 Henry & Partner’s World’s Richest Cities Report indicates that both West Palm Beach and Miami have outpaced New York City as the fastest-growing hubs for wealth globally.

West Palm has enjoyed a staggering 112% rise in the number of billionaires over the last ten years, while Miami isn’t far behind with a 94% growth rate.

Gables Estate is renowned for its luxurious waterfront homes, stunning landscapes, and canal systems that lead straight to Biscayne Bay.

Development in this area began in the 1920s and it currently houses around 160 to 180 properties.

“We anticipate an uptick in interest from ultra-luxury buyers looking to make Coral Gables and the surrounding Miami area their home. As more people settle down here, the neighborhood is bound to enhance its reputation as a top-tier enclave,” Lugones explained.

Residents enjoy high security provisions, with 24/7 armed guards overseeing the area.

To enter the community, there’s a non-refundable application fee of $100,000 to join the exclusive Gables Estates Club, and Zillow notes that home listings often exceed $21 million.

“Coral Gables is inherently limited in space, given the finite amount of land,” Lugones observed. “Its renowned reputation and careful development practices draw attention without sacrificing lifestyle or property value. If the growth is managed well, Coral Gables can sustain its appeal for many years to come.”