Have you ever wondered which of the wealthiest cities in Florida is the best? If you’re planning to move to the Sunshine State or just curious about where the richest people live, you’re in the right place. In this blog post, I’ll be sharing some fascinating insights into the top cities in Florida that are home to some of the wealthiest residents in the state.
Florida is known for its beautiful beaches, warm weather, and vibrant nightlife. But did you know that it’s also home to some of the wealthiest cities in the United States? From Palm Beach to Coral Gables, Florida has much to offer for those looking for a luxurious lifestyle. In this blog post, I’ll be sharing some of the wealthiest cities in Florida, along with some interesting facts and figures about each one.
By the end of this post, you’ll learn which are the top 14 richest cities in Florida, the median household income of each town, and what makes each one unique. Whether you’re planning to move to Florida or just curious about the lifestyles of the rich and famous, this blog post is for you. So, let’s dive in and explore the wealthiest cities in Florida!
Top 14 Richest Cities in Florida in 2024
1. Naples
Naples is a beautiful city located in Collier County, Florida. It is one of the richest cities in Florida and has a population of around 22,000. Naples ranked #14 in the list of places where the rich are getting richer.
Naples is known for its beautiful beaches, high-end shopping, and luxurious lifestyle. The average household income in Naples is around $100,000, and the cost of living is relatively high. However, the city offers a high quality of life with excellent schools, healthcare, and recreational activities.
Naples has a thriving real estate market, with many luxurious homes and properties available. Naples is home to many wealthy individuals, including Shahid Khan, the richest person in Southwest Florida.
2. Palm Beach
Palm Beach is the richest city in Florida, with a median household income of $190,800. It’s located on a barrier island off Florida’s southeast coast and is known for its luxurious lifestyle and exclusivity. As of 2024, it was estimated that there were thirty billionaires residing in Palm Beach.
The city has a population of 14,780 and is home to some of the most expensive real estate in the United States, with many homes worth millions of dollars. The city is also known for its high-end shopping and dining options, with Worth Avenue being a popular destination for luxury shopping.
Palm Beach is a popular tourist destination, with many enjoying the beautiful beaches and warm weather. The city also has many cultural attractions, including the Henry Morrison Flagler Museum and the Norton Museum of Art.
3. Coral Gables
Coral Gables is one of the wealthiest cities in Florida. As of 2024, the median family income in Coral Gables was $118,203, with a population of 48,375. The city is known for its Mediterranean Revival architecture, finely manicured roads, and affluent neighborhoods.
Coral Gables is home to the University of Miami, one of the top private universities in the United States. The university significantly impacts the local economy, as it employs thousands of people and attracts students from all over the world.
The city is also home to many luxury boutiques, high-end restaurants, and upscale hotels, making it a popular tourist destination. The Miracle Mile is a popular shopping district in Coral Gables, offering a variety of high-end shops and restaurants.
Coral Gables is a vibrant and diverse city with a rich cultural heritage. The city hosts many festivals and events throughout the year, including the Coral Gables Food, Wine & Spirits Festival, the Coral Gables Hispanic Cultural Festival, and the Coral Gables International Film Festival.
4. Boca Raton
Boca Raton is one of the wealthiest cities in Florida, with a median family income of $84,445 as of the last available data in 2024. The city is known for its affluent lifestyle, opulent waterfront homes, and immaculate beaches.
The annual Boca Raton Arts Festival showcases the work of over 250 artists nationwide. At the same time, the Boca Raton Museum of Art features a diverse range of exhibitions and educational programs.
Boca Raton is also home to several top-rated golf courses, including the Boca Raton Resort & Club and the Old Course at Broken Sound. The city’s parks and recreational areas, such as the Gumbo Limbo Nature Center and Sugar Sand Park, offer a variety of activities for residents and visitors alike.
5. Fort Lauderdale
Fort Lauderdale is one of the most affluent cities in Florida and is located in Broward County. As of 2024, it has a population of approximately 184,000, with a median household income of $76,000.
One of the wealthiest neighborhoods in Fort Lauderdale is Harbor Beach, which is known for its luxurious waterfront properties and private beach club. Nurmi Isles is another affluent neighborhood in Fort Lauderdale, with a median home price of $10,501,250 and a median rent of $2,061.
Fort Lauderdale is also home to some of the most expensive places in Broward County. Sea Ranch Lakes, with a median home price of $1,926,093, is the most expensive city in Broward County, followed by Hillsboro Beach and Lauderdale-by-the-Sea.
In addition to its affluent neighborhoods, Fort Lauderdale is also known for its beautiful beaches, vibrant nightlife, and thriving arts and culture scene. The city is home to numerous museums, galleries, and theaters, as well as the annual Fort Lauderdale International Boat Show, one of the world’s largest boat shows.
6. Key Biscayne
Key Biscayne is a beautiful island town located in Miami-Dade County, Florida. As of 2024, it had a population of 14,487. The median household income in Key Biscayne is $179,000, making it one of the wealthiest cities in Florida.
One of the reasons Key Biscayne is so wealthy is that it is home to many successful entrepreneurs and business executives. They are attracted to the island’s natural beauty and luxurious lifestyle. Key Biscayne’s real estate market is booming, with many high-end properties available.
Besides its wealthy inhabitants, Key Biscayne shines with its stunning beaches and recreational areas. PropertyClub highlights the island’s numerous untouched beaches, spotlighting Crandon Park Beach’s recognition as one of the top 10 beaches in America by Dr. Beach in 2024. The locale is also the site of Bill Baggs Cape Florida State Park, providing trails for hikers, fishing opportunities, and camping facilities.
7. Sarasota
Sarasota is a wealthy city that is located in Sarasota County, Florida. Sarasota County is one of the richest counties in Florida. Sarasota is known for its beautiful beaches, cultural attractions, and luxury homes.
One of the most expensive neighborhoods in Sarasota is Bay Island, with a median home price of $6,255,707 and a median rent of $1,827. The city also has several exclusive golf and country clubs, including the Ritz-Carlton Golf Club and the Oaks Club.
In addition to its high-end real estate, Sarasota is known for its vibrant arts scene. The city is home to the Sarasota Opera, the Sarasota Ballet, and the Sarasota Orchestra, among other cultural institutions. The Ringling Museum of Art, which houses a collection of works by European masters, is also located in Sarasota.
8. Weston
Weston is a city located in Broward County, Florida. Weston is the second richest city in Florida, with an average annual income of $102,346. The city has generated a huge source of income to rank second among the richest towns in Florida following a 4.3% increase in job opportunities that reduced the unemployment rate to a mere 2.5%.
Weston has a population of 71,086 and is home to several affluent neighborhoods with luxurious homes, golf courses, and country clubs. The city is also known for its excellent schools, with an A+ rating from Niche.com. Weston is a family-friendly city with plenty of parks and recreational activities for residents.
Furthermore, Weston is home to several large corporations, such as Ultimate Software, DHL, and Marriott International. These corporations provide job opportunities for the residents of Weston, contributing to the city’s high average annual income.
9. Aventura
Nestled in Miami-Dade County, Florida, Aventura boasts a population of roughly 38,000 as of 2024. Famous for its upscale shopping venues, the city’s Aventura Mall is the largest in Florida, home to more than 300 high-end brands like Louis Vuitton, Gucci, and Chanel.
Ranking within Florida’s top 10 wealthiest cities, Aventura showcases a median household income of $75,211 and a per capita income of $51,008. The city’s cost of living is also high, as evidenced by the average home price of about $500,000.
However, the quality of life in Aventura remains superior thanks to its low crime rate, outstanding schools, and abundant leisure options, including parks, golf courses, and beaches. Thus, it becomes a sought-after location for both retirees and families.
10. Pinecrest
Pinecrest is a wealthy town located in Miami-Dade County, Florida. Pinecrest is one of the most affluent towns in Florida, with a median family income of $164,419. With a population of 17,111, Pinecrest is well-regarded for its calm suburban beauty and richness.
Pinecrest is a well-known and affluent community with much to offer its residents. The town has a diverse mix of businesses, including construction, manufacturing, retail and wholesale trading, accommodation, and more, as per Clacified. Pinecrest is ranked as the 7th richest city in Florida, with an average income of $62,536 and a median household income of $122,235.
In Pinecrest, you’ll find a variety of recreational activities, including parks, golf courses, and tennis courts. The town is also home to several art galleries and museums, making it a great place for enthusiasts. The city is also known for its excellent schools, some of the best in the state.
11. Miami Shores
Miami Shores is a wealthy suburb located just north of Miami. The population in the city is 11,417, and the median household income is $120,750. It’s no wonder why Miami Shores is one of the richest cities in Florida, with plenty of fantastic restaurants, parks, and recreational facilities.
One of the most notable features of Miami Shores is its beautiful homes, many of which are situated on the waterfront. These homes are often quite large and luxurious, with stunning views of the ocean or the Intracoastal Waterway. The city also has several prestigious private schools, including Miami Country Day School and St. Rose of Lima Catholic School.
Miami Shores is a great place for those who enjoy an active lifestyle. The city has several parks, including the popular Miami Shores Recreation Center, which offers a variety of recreational activities for residents of all ages. The city also has a vibrant arts scene, with several galleries and cultural events throughout the year.
12. Longboat Key
Longboat Key is a beautiful town on the same name’s barrier island, situated on the western coast of Florida. As of 2024, the median household income in Longboat Key is $108,000, making it one of the wealthiest cities in Florida. The town has approximately 6,000 people and is a popular destination for tourists and retirees.
Longboat Key is known for its beautiful beaches, luxury resorts, and world-class golf courses. The town has a low crime rate, excellent schools, and a high standard of living. It is a popular destination for wealthy retirees looking for a peaceful and luxurious place to spend their golden years.
The town also has several exclusive communities, such as the Bay Isles community, which features beautiful homes and waterfront properties. The Longboat Key Club is a popular destination for golfers, and the town is also home to many fine dining restaurants and upscale shops.
13. Parkland
Parkland is a city located in Broward County, Florida. It is one of the wealthiest places in Florida, with a poverty rate under 4%. The city has a year-round population of 35,265 residents, and the average household income is $159,692, with over $60,000 per capita income.
Parkland is known for its rural residential setting, and the city is home to a vibrant and active equestrian community. The town has several parks and recreational facilities, including Pine Trails Park, a playground, a theater, and a splash pad.
Regarding education, Parkland has several highly-rated schools, including Park Trails Elementary School, Riverglades Elementary School, and Marjory Stoneman Douglas High School. The city is also home to the Parkland Library, which offers a variety of educational and recreational programs for residents of all ages.
14. Southwest Ranches
Southwest Ranches is a wealthy town located in Broward County, Florida. As of 2024, it is one of the top 10 richest cities in Florida, with a median household income of $165,600. This ultra-exclusive town has a population of 7,605 people and is located about a 45-minute drive northwest of Miami, on the eastern border of the Everglades National Park.
The town is known for its equestrian estates and has developed numerous equestrian trails, which are also multi-use, so people can use them for biking or walking throughout the city. Southwest Ranches is also part of the Miami metropolitan area, making it a desirable location due to its proximity to the Everglades.
Southwest Ranches has a very limited real estate market, with only single-family homes, apartments, and condos available. The town’s zoning laws require that all homes be built on at least one acre of land, which has helped to maintain the town’s rural feel.
Frequently Asked Questions (FAQs)
What are the top 10 wealthiest cities in Florida as of 2023?
As of 2023, the top 10 wealthiest cities in Florida are Palm Beach, Golden Beach, Longboat Key, Weston, Fisher Island, Key Biscayne, Gulf Stream, Jupiter Island, Indian River Shores, and Pinecrest.
Which Florida city has the highest per capita income?
Palm Beach is the city in Florida with the highest per capita income. The median household income in Palm Beach is $190,800.
Where in Florida do the most billionaires reside?
Palm Beach is the city with the most billionaires in Florida. As of 2024, an estimated 30 billionaires live in Palm Beach.
Can you name a few of the most exclusive neighborhoods in Florida?
Some of the most exclusive neighborhoods in Florida include Fisher Island, Palm Beach, Indian Creek, Star Island, and Golden Beach.
What is considered the most affluent county in Florida?
Palm Beach County is considered the most affluent county in Florida. It is home to some of the wealthiest cities in the state, including Palm Beach, Gulf Stream, and Jupiter Island.
Is Boca Raton known for being one of the wealthiest cities in the state?
While Boca Raton is wealthy, it is not among Florida’s top 10 cities. However, it is home to many affluent neighborhoods and communities, such as Royal Palm Yacht, Country Club, and The Sanctuary.
Conclusion
Florida is home to some of the wealthiest cities in the United States. These cities offer residents luxurious lifestyles and unparalleled amenities from Palm Beach to Golden Beach. As we have seen, the median household income in Palm Beach is $190,800, and it is also the city with the most billionaires in Florida.
Similarly, Golden Beach has an average household income of $370,512. The data shows that most wealthy cities have a high percentage of residents with bachelor’s degrees or higher.
It is important to note that while these cities offer a life of luxury, they also face challenges such as income inequality and affordable housing shortages. Nonetheless, these cities continue to attract wealthy individuals and families worldwide.
Thank you for taking the time to read this article, and I hope you found it informative and engaging.
