Coral Gables topples Beverly Hills as America's richest neighborhood per Bloomberg

Coral Gables topples Beverly Hills as America's richest neighborhood per Bloomberg

  • The APT TEAM
  • 04/11/24

Coral Gables, a picturesque city located in Miami-Dade County, Florida, is renowned for its elegant homes, lush green spaces, top schools and vibrant cultural scene. Aside from its undeniable charm, Coral Gables holds another impressive accolade - it is the wealthiest neighborhood in the United States according to a recent report by Bloomberg.

In the article, Gables Estates in Coral Gables holds the title for the most expensive neighborhood in America, with an average home price of $21.2 million. Before the pandemic, in 2020, Beverly Hills Gateway claimed the top spot as the priciest neighborhood, with the average home costing a staggering $10.6 million.

We ran the comparables of Gables Estates on 4/100/2024 and learned that there are 4 homes on the market ranging from $26,750,000 to $57,000,000.

Florida stands supreme

Florida has 7 of the nations's wealthiest neighborhoods as also noted by Bloomberg. 5 of these are in Miami.

But, what about Indian Creek?

Although Coral Gables and its exclusive, secured neighborhoods such as Gables Estates are extremely desirable among the affluent, Indian Creek reigns as the most expensive neighborhood in the United States according to all calculations. It is uncertain why Indian Creek was not recognized as the official frontrunner. One possible explanation could be the rarity of properties being put up for sale or publicly listed. The most recent recorded transaction in the MLS (multiple listing service) took place in October 2023, with a sale price of $79 million. Indian Creek is known as Billionaires Bunker and features the likes of Carl Icahn and Jeff Bezos, who owns already three estates here, among other industry titans.

A Haven for Luxury Real Estate

One of the primary reasons behind Coral Gables' status as the wealthiest neighborhood (if not one of the wealthiest) is its remarkable luxury real estate market. The city boasts a wide array of exquisite properties, ranging from sprawling mansions to elegant waterfront estates. These homes feature opulent amenities, stunning architectural details, and meticulously designed interiors that cater to the most discerning tastes. It is not uncommon to find properties with private pools, expansive gardens, and breathtaking views of the city or the bay.

The Enduring Beauty of Coral Gables

Nestled among the vibrant neighborhoods of Miami, Coral Gables stands out with its distinctive Mediterranean Revival architectural style. The city's founders, George Merrick and Denman Fink, envisioned a community that would blend seamlessly with its natural surroundings. Today, the result of their vision is evident in the city's stunning tree-lined streets, grand mansions, and carefully manicured gardens.

Coral Gables stands as a testament to the allure of luxury living. Its stunning architecture, thriving business environment, exceptional educational institutions, and cultural richness make it the epitome of refined living. 

Learn more about the Coral Gables Bloomberg article

Ready for Coral Gables?

The amount of capital it takes to secure a high-end home in Coral Gables should mean that your every move should be carefully planned. As the acquisition of these properties means a bit more legwork, it’s strongly recommended that an experienced and dedicated real estate agent be used to help you navigate the search process. The agents with The APT Team have the necessary contacts to help buyers find off-market luxury homes and years of experience in the industry to secure the best possible deal. Consider their expertise when beginning your search for the Coral Gables home of your dreams.

Work With Us

While we are consistently award-winning and the recipient of 2021 Pinnacle Award, Top 2% of agents company wide and #1 in New Dev Sales for Florida, we believe luxury is not a matter of price points but of passion to service. Whether you are a discerning buyer, a savvy seller or are seeking to upgrade, go ahead, leverage us and maximize your real estate experience. We are uniquely focused in offering the best real estate tools and solutions to our customer portfolio on a one-to-one basis, with the highest standard of service, commitment and integrity.