Florida neighborhood surpasses Beverly Hills, California, as the most expensive residential area in the United States.
Gables Estates in Coral Gables, Florida, Tops US as Most Expensive Neighborhood
In a stunning shift, the exclusive waterfront community of Gables Estates in Coral Gables, Florida, has become the most expensive neighborhood in the United States. This prestigious title was previously held by long-standing icons like Beverly Hills, California.
The transformation of Gables Estates into a luxury real estate powerhouse is a result of a combination of factors that appeal to ultra-high-net-worth individuals.
Ultra-Luxury Waterfront Lots
Gables Estates boasts 179 oversized lots, averaging approximately 56,240 square feet. Many homes in the community feature private docks on Biscayne Bay, accommodating mega-yachts and offering luxury amenities like wine cellars and Swarovski chandeliers.
Record-High Home Values
According to Zillow's data through mid-2025, the average home value in Gables Estates tops $21 million, surpassing Beverly Hills. Homes in the community often list above this value.
Exclusive Access and Rigorous Vetting
Prospective buyers must pay a non-refundable application fee of $100,000 for U.S. citizens ($105,000 for foreign buyers), provide personal referrals, financial disclosures, and gain approval from the homeowners association. This stringent process ensures extreme exclusivity.
Tax Advantages
Florida’s lack of state income tax is a significant draw for billionaires and ultra-wealthy buyers, including notable figures like Jeff Bezos and Ken Griffin, who are relocating businesses and wealth to South Florida.
Privacy and Security
The gated community offers high levels of privacy, 24/7 security, and controlled access, making it an attractive option for individuals seeking safety and seclusion.
Lifestyle and Climate
The warm climate, oceanfront living, and a high quality of life with walkability, cultural amenities, and lush, managed landscaping contribute to the neighborhood's desirability beyond just property value.
South Florida’s Growing Economic Status
Miami and Coral Gables have evolved into financial and technological hubs, often referred to as "Wall Street South." This transformation, coupled with recent migration trends post-pandemic, has fueled demand for luxury real estate in the area.
The greater Miami area has experienced an influx of wealth in the post-COVID era, with both West Palm Beach and Miami surpassing New York City as the world's fastest-growing wealth hubs, according to the Henley & Partners World's Wealthiest Cities Report for 2025.
Seven of the 10 priciest neighborhoods are located in Florida, with the remaining three in California. Gables Estates is joined by Port Royal in Naples, Florida (the second most expensive neighborhood), Old Cutler Bay in Coral Gables (the third most expensive), Rivo Alto Island and San Marino Island in Miami Beach (ranked seventh and tenth, respectively), and Palm Island in Miami Beach (ranked ninth).
Entry into the community requires a $100,000 non-refundable application fee to the larger Gables Estates Club. The neighborhood offers privacy, sophistication, and livability, making it an attractive option for ultra-high-net-worth buyers seeking a high-end lifestyle in the United States.
