Biltmore Hotel in Coral Gables – Courtesy: Shutterstock – Image by Rafel
A new enclave is overtaking Beverly Hills as the most expensive in America.
According to Zillow’s ranking of the most expensive neighborhoods in the US over the past 12 months, Gables Estates, a small gated community in Coral Gables, Florida, has surpassed all other neighborhoods.
The suburb has surpassed Beverly Hills, California, which has long been considered the most affluent ZIP code.
“The privacy, sophistication, and livability that Gables Estates offers are what set it apart from Beverly Hills,” Fernando de Nunez y Lugones, co-founder of Vertical Developments and CEO of Coral Gables, told Fox News Digital. “Unlike Beverly Hills, which is known mostly for its name and history, Gables Estates is about the lifestyle and the experience, and that consistently draws ultra-high-net-worth buyers.”
The Sunshine State is home to seven of the ten most expensive neighborhoods, with California housing the other three.
Lugones asserted, “This is a long-term trend, not a blip,” “It makes sense that Coral Gables defeated Beverly Hills, as I recall reading last year. Because of the lifestyle, taxes, and general atmosphere, buyers and businesses are moving here. Coral Gables stands out for its walkability, facilities, and culture, and South Florida is increasingly being referred to as Wall Street South. The allure of space, safety, and community endures despite market fluctuations.
Based on factors like sales transactions, tax assessments, public records, square footage, and location, Zillow’s home value index is “designed to capture the value of a typical property across the nation or the neighborhood,” according to its website.
The post-COVID period has seen a surge in the migration of wealth to the greater Miami area. Over $14 billion in income came to Florida between 2017 and 2022, with over $9.2 billion flowing to Miami-Dade, Palm Beach, and Broward counties.
Furthermore, according to the 2025 Henley & Partners World’s Wealthiest Cities Report, Miami and West Palm Beach both overtook New York City as the wealthiest cities with the fastest rates of growth in the world. Over the past ten years, the number of millionaires in West Palm has increased by 112%, but in Miami, it has increased by 94%.
Luxurious houses, gorgeous landscaping, and a canal system that connects directly to Biscayne Bay are all elements of the upscale waterfront enclave known as Gables Estates. There are currently between 160 and 180 properties in the area, which started to develop in the 1920s.
Ultra-luxury purchasers wishing to relocate to Coral Gables and the larger Miami area are likely to show even more interest. “The neighborhood’s reputation as a world-class enclave will only continue to grow as more buyers settle here,” Lugones said.
With armed guards on land and in the water around-the-clock, its residents enjoy the highest level of security. A $100,000 non-refundable application fee must be paid to the larger Gables Estates Club in order to get entry into the neighborhood. According to Zillow, listing prices for homes frequently surpass $21 million.
“Coral Gables is naturally self-limiting since there’s only so much prime land, which helps protect against overexposure,” Lugones said. “At the same time, it can manage national attention without sacrificing lifestyle or value thanks to its reputation and meticulous development criteria. Coral Gables may maintain its momentum for decades as long as growth is measured.
The following are the ten most and least expensive neighborhoods in America:
1. Gables Estates, Coral Gables, FL
2. Port Royal, Naples, FL
3. Old Cutler Bay, Coral Gables, FL
4. Beverly Hills Gateway, Beverly Hills, CA
5. The Flats, Beverly Hills, CA
6. Shady Canyon, Irvine, CA
7. San Marino Island, Miami Beach, FL
8. Bear’s Club, Jupiter, FL
9. Palm Island, Miami Beach, FL
10. Rivo Alto Island, Miami Beach, FL
With an average house value of $24,026 on Zillow’s list, Jackson, Mississippi’s Bullard Hill is the least costly neighborhood. Other neighborhoods include three in Flint, Michigan; three in Jackson, Mississippi; and two in Shreveport, Louisiana.
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