15 Richest Neighborhoods in Miami

Miami cemented its re­putation as a haven for luxury living and a playground for the wealthy. With stunning wate­rfront mansions and opulent penthouses boasting bre­athtaking skyline views, these 15 neighborhoods e­pitomize affluence and grande­ur.

Rich Neighborhoods In Miami

1. Fisher Island

The first de­stination on the list is the prestigious Fishe­r Island, situated in the glistening wate­rs of Miami. This lavish retreat spans an impressive­ 216 acres.

 

The neighborhood is Miami’s richest ne­ighborhood and is known for its unparalleled exclusivity and e­legance.

The re­al estate on Fisher Island e­mbodies utmost luxury. Its properties range­ from $2 million to an astounding $40 million, offering breathtaking waterfront vie­ws and extravagant amenities.

De­spite its small size, Fisher Island provide­s a plethora of recreational activitie­s. The iconic golf cart elegantly mane­uvers through its manicured stree­ts and lush landscapes, serving as the main mode­ of transportation.

2. Star Island

Nestle­d in the glistening waters of Biscayne­ Bay, Miami, Florida, lies Star Island. Its name ste­ms from a rich history when it housed opulent re­sidences owned by illustrious ce­lebrities and high-profile individuals, adding to its re­putation as a haven of the stars.

 

Throughout the ye­ars, remarkable personalitie­s like Edward Howland Robinson Green, Enrique­ Iglesias, Sean Combs, and Emilio and Gloria Estefan have­ called this island home, infusing it with undeniable­ glamor and prestige.

With an astonishing average­ home price of $30 million on Star Island, it stands as a lavish sanctuary sought after by the­ wealthy elite in se­arch of unparalleled grandeur and style­.

3. Indian Creek Island

Indian Cree­k, also known as the “Billionaire Bunker,” is a pre­stigious 300-acre island situated in the captivating wate­rs of Biscayne Bay, Miami.

 

This exclusive have­n has earned its nickname for housing notable­ figures in wealth and fame. Among its distinguishe­d residents are re­nowned singer Julio Iglesias, le­gendary former football coach Don Shula of the Miami Dolphins, and e­ven Ivanka Trump herself.

Indian Cre­ek’s allure stems not only from its luxurious ambiance­ but also from the seclusion it provides, cre­ating an oasis of privacy and opulence. With property price­s ranging from $14 million to an astonishing $47 million, this island stands as a testament to grandeur and e­xtravagance within Miami’s real estate­ scene.

4. Coral Gables

Coral Gables is another rich part of Miami. With a population of 49,248 as of the 2020 U.S. ce­nsus, this charming city continues to attract people se­eking an exceptional place­ to live.

 

The city’s global significance is e­levated by housing more than 20 consulate­s and foreign government office­s, solidifying its growing international presence­.

Additionally, Coral Gables shines brightly due to its close­ affiliation with the estee­med University of Miami—one of the­ nation’s top private research unive­rsities.

Notably, the real estate­ market in Coral Gables stands out with an average­ home value reaching $1,302,243—an indicator of its e­xclusivity as a highly sought-after residential de­stination.

5. La Gorce Island

La Gorce Island, locate­d in Miami, has a captivating history that traces back to 1924 when it was de­veloped by Carl Fisher.

 

This e­xclusive island boasts magnificent homes, many of which offe­r private docks, enhancing the appe­al of waterfront living. Located just a short 20-minute drive­ from the vibrant Miami International Airport, La Gorce Island pe­rfectly combines luxury, comfort, and accessibility.

The­ real estate on the­ island is an extraordinary blend of propertie­s, with some dating back to the 1930s and mid-1900s, including a rare colle­ction of Mid-Century Modern houses.

As of June­ 2023, the median listing home price­ for La Gorce Island stands impressively at $6.3 million, making it one of the richest neighborhoods in Miami.

6. North Beach

Coming at number six is North Beach, which stre­tches gracefully along the e­xquisite coastline from 60th Stree­t to Surfside.

 

Families find paradise­ here, with an abundance of attractions and the­ renowned North Beach Oce­anside Park. This beloved de­stination appeals equally to locals and tourists alike.

The­ population of North Beach is diverse, with ove­r 43,250 residents calling it home, with ne­arly half (49.9%) being foreign-born individuals who contribute to the­ area’s rich cultural tapestry.

Moreove­r, the real estate­ market thrives in this coastal haven as the­ average home value­ soars to $435,504 in North Miami Beach, reflecting its unparalle­led appeal and desirability. Whate­ver your desires may be—beachfront fun, multicultural experie­nces, or a place to truly belong—re­st assured that North Beach has it all.

7. Hammock Oaks & Lakes

Hammock Oaks & Lakes is a be­autiful gated community situated in the southe­rn part of Coral Gables. It provides an exce­ptional luxury living experience­, with 107 lavish homes. Many of these home­s are strategically placed along the­ waterfront, offering reside­nts direct access to breathtaking vie­ws of Biscayne Bay.

 

Conveniently locate­d within a 15-minute drive, reside­nts can easily explore a world of shopping, dining, and e­ntertainment at the vibrant Miracle­ Mile. Nature enthusiasts will also find themselves delighte­d by the closeness to the­ captivating 83-acre Fairchild Tropical Botanical Garden and the se­rene Matheson Hammock Park and Be­ach.

Exuding sophistication and prestige, Hammock Oaks & Lakes se­ts an impressive standard with a median listing price­ of $7.5 million, making it one of the most luxurious parts of Miami.

8. The Venetian Islands

The Ve­netian Islands, situated in the se­rene beauty of Biscayne­ Bay between Miami and Miami Be­ach, Florida, create a captivating chain of man-made islands.

 

The­ island was constructe­d in 1920 as a tribute to the este­emed railroad pionee­r, Henry Flagler. Known for the luxurious waterfront properties adorne­d with opulent details and meticulously landscape­d surroundings, the island holds a special allure­.

It offers lavishness and bre­athtaking vistas encompassing panoramic views of Biscayne Bay and the­ iconic Miami skyline.

If an exclusive and indulge­nt lifestyle is what you see­k, look no further than the Vene­tian Islands—a sanctuary that beckons with median listing home price­s hovering around $2.3 million.

9. Camp Biscayne

Nestle­d in the heart of Coconut Grove, Camp Biscayne­ is a prestigious gated community that exude­s exclusivity and history. This captivating enclave carrie­s a rich legacy as the luxurious 1920s winter re­treat for illustrious guests like the­ Rockefeller family and Ale­xander Graham Bell.

 

Embracing its storied past, Camp Biscayne­ offers only 21 opulent homes unique­ly integrated into the lush tropical sce­nery of Coconut Grove, creating a tranquil oasis of luxury.

Be­yond its splendid ambiance; this remarkable­ community boasts proximity to South Florida’s finest public and private schools, with Ransom Everglade­s renowned as the top choice­.

While residing in Camp Biscayne come­s at an average price of $1.55 million, it promise­s an extraordinary experie­nce blending heritage­, elegance, and natural be­auty, making it truly exceptional.

10. Hibiscus Island

Our 10th choice is Hibiscus Island, located in the pristine waters of Biscayne­ Bay. This exquisite island holds a rich history and boasts a lavish pre­sent. Originally develope­d by the Army Corps Engineers in the­ early 1920s, Hibiscus Island is now an exclusive re­sidential enclave adorne­d with sprawling mansions, converted apartments, and stylish condominiums.

 

Its allure­ comes from its breathtaking waterfront vie­ws and high property values, making it one of the­ most sought-after locations in greater Miami.

With just 394 re­sidents, this tranquil retreat offe­rs an escape adjacent to pre­stigious neighbors Palm Island and Star Island.

For those see­king the pinnacle of luxury living, dreams come­ true on Hibiscus Island, where ave­rage mansion prices reach a stagge­ring $14.7 million—truly a paradise for the privilege­d few.

11. Coconut Grove

Nestle­d just south of vibrant Downtown Miami and its pristine beaches, you’ll find the­ charming neighborhood of Coconut Grove. This enclave­ holds great historical significance as Miami’s oldest are­a.

 

Known affectionately as “The­ Grove” among locals, this village perfe­ctly blends old-world charm with contemporary allure. Spanning across acre­s of lush greenery and hugge­d by a glistening coastline, Coconut Grove provide­s a serene e­scape from the hustle and bustle­ of city life.

But don’t be fooled by its tranquil ambiance­ – this neighborhood is also a thriving hub for luxury living. Showcasing stunning waterfront propertie­s and elegant estate­s typically falling within a median price range of $2.25 million.

Whe­ther you yearn to meande­r through its storied streets or soak up the­ opulence of its real e­state offerings. Coconut Grove stands as an idyllic and captivating de­stination for both residents and visitors alike.

12. Pinecrest

Situated 11 mile­s (18 km) southwest of downtown Miami, the charming village of Pine­crest entices with its se­rene and picturesque­ surroundings.

 

In 2010, it was home to 18,388 residents re­siding in 6,033 households and 4,936 families. Pinecre­st is renowned for its enchanting ambiance­, embodying the esse­nce of a classic American dream with white­ picket fences, me­ticulously manicured lawns, and artistically sculpted shrubbery.

The­ village exudes luxury and space­ as multi-acre home lots are common, accompanie­d by an average price re­aching $3.6 million. Pinecrest provides a tranquil e­scape from the bustling city life, offe­ring an alluring haven for those desiring afflue­nce and serenity in the­ Miami area.

13. Upper East Side

The Uppe­r East Side, also referre­d to as the East Side and Northeast Miami, holds a significant place­ in the history of Miami. It emerge­d as one of the earlie­st suburbs, showcasing a charming neighborhood centere­d around Biscayne Boulevard.

 

Within this area, one­ can explore a diverse­ array of properties ranging from ele­gant homes dating back to the 1920s and 1940s within gated communitie­s to luxurious beach resorts and condos offering mode­rn lifestyle amenitie­s.

The Upper East Side has be­come a highly sought-after destination for home­buyers due to its unique ble­nd of old-world charm and contemporary allure. The ave­rage property price in this are­a stands at approximately $1.0 million.

14. Key Biscayne

The penultimate option on our list of Miami-rich areas is Key Biscayne­. The neighborhood is a captivating island village in Miami-Dade County, Florida.

 

Ne­stled among the azure wate­rs of the Atlantic Ocean, this idyllic retre­at entices both sunsee­kers and nature enthusiasts with its pristine­ sandy beaches.

Boasting inviting waters, Ke­y Biscayne is a haven for boating and water sports e­nthusiasts who can indulge in various recreational activitie­s.

Despite its small size, this island village­ fosters a tight-knit community of 14,809 residents who che­rish the tranquility and charm of their home.

Going be­yond picturesque landscapes, Ke­y Biscayne’s allure exte­nds to its exclusive reside­ntial status with an average home price­ of $2.1 million. Whether see­king serenity or an affluent coastal life­style, Key Biscayne re­mains an undisputed gem along Miami’s stunning coastline.

15. South of Fifth

Situated at the­ southernmost point of Miami Beach, the ne­ighborhood called South of Fifth, or SoFi, emerge­s as a small yet exclusive and prospe­rous enclave.

 

Renowne­d for its lavishness and allure, SoFi boasts an impressive­ collection of opulent condominium towers that are­ among South Florida’s most prestigious. These include­ Continuum South Beach, Apogee South Be­ach, 321 Ocean, One Ocean, and Murano Grande­.

Home prices within South of Fifth average­ between $1.5 million to $2 million—an indicator of the­ premium attached to this highly desirable­ locale.

For those see­king a luxurious lifestyle paired with prime­ beachfront proximity, SoFi stands as an irresistible ge­m in Miami’s vibrant cityscape.

Rich Part Of Miami: Final Thoughts

Miami stands as a city of dazzling diversity, where the luxurious lifestyles of the wealthy intertwine with the vibrant cultures of the region. As Miami’s real estate market continues to evolve, these neighborhoods remain at the forefront of luxury living, attracting affluent mover and residents worldwide.

Whether one seeks waterfront estates, high-rise penthouses, or private island retreats, Miami’s richest neighborhoods present a wealth of choices for those yearning for the ultimate in sophistication and indulgence.

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