Where do the rich live in Miami? Miami is home to some of the richest people in America. The richest Miami residents live in private islands and gated communities. Many billionaires, celebrities and pro athletes call Miami home.
High net worth individuals and families have relocated to Miami in recent years because of Florida’s low taxes. Here are the richest neighborhoods in Miami.
Where Do the Rich Live in Miami?
Indian Creek, FL
Indian Creek is one of the richest suburbs of Miami. It’s an exclusive, residential neighborhood of waterfront homes. Indian Creek is where the rich live in Miami- VIPs, billionaires and pro athletes live in Indian Creek where the median sale price of the luxury mansions is $23,169,000.
In fact, it’s not uncommon to see luxury, waterfront mansions at Indian Creek sell for over $50 million! Indian Creek residents live the pampered, country club lifestyle. Homeowners rub shoulders with the millionaires and billionaire members of the ultra-exclusive Indian Creek Country Club.
Fisher Island, FL
Fisher Island is one of the richest neighborhoods in Miami. It is the richest island in Miami where 6000 square feet condos sell for over $15 million and $3 million only gets you a 1500 square feet 2 bedroom and 2 bath condo.
The affluent residents of Fisher Island enjoy the best of the best- panoramic views of the Miami skyline, golf, tennis, spa, restaurants, and best of all privacy. You can’t just drive to Fisher Island, you need to take a heavily secured ferry. They won’t let you into Fisher Island without security clearance! It’s that exclusive.
Fisher Island is a rich area in Miami with a median sales price of $5,937,181! Most of the homes in Fisher Island are primarily owner-occupied with only 7.1% rentals and 92.9% owner-occupied.
Fisher Island residents are well educated with 83.9% of residents graduating with a bachelor’s degree or higher. There are many senior citizens in Fisher Island with 61.0% of residents aged 65 years old and older.
Golden Beach, FL
Golden Beach is one of the wealthiest neighborhoods in Miami. It is one of the richest gated communities in America. Golden Beach is where the rich live in Miami with homes selling for over $10 million!
It’s hard to find a home in Golden Beach if your budget is less than $5 million! The median sales price of homes at Golden Beach is $10,572,000- it’s truly one of the most expensive neighborhoods in Miami.
Most of the homes in Golden Beach are primarily owner-occupied with only 3.5% rentals and 96.5% owner-occupied. The affluent residents of Golden Beach live the good life- stunning beachfront properties, private beaches, and a short drive to Miami.
Venetian Islands, FL
Venetian Islands is a rich neighborhood in Miami. It’s comprised of a series of islands off Miami where waterfront mansions at Venetian Islands sell for over $10 million. It’s not uncommon for homes to sell for more than $20 million at Venetian Island- it’s definitely one of the richest neighborhoods in South Florida.
The affluent residents of Venetian Islands enjoy some of the best waterfront views in Miami- breathtaking sunsets and panoramic water views.
Key Biscayne, FL
Key Biscayne is one of the wealthiest suburbs of Miami. It is one of Miami’s richest islands where the median sales price is $1,610,000. Key Biscayne is a really wealthy Miami neighborhood where a 2 bedroom, 2 bath, 1800 square feet condo can easily sell for $3 million and waterfront homes can easily sell for over $15 million!
Located on an island just minutes from Miami, Key Biscayne residents enjoy resort living with beautiful white sand beaches and panoramic waterfront views.
La Gorce Island, FL
La Gorce Island is one of the wealthiest suburbs of Miami. It’s a gated community in Miami where modest homes on a quarter of an acre sell for $5 million and waterfront mansions at La Gorce Island can sell for an eye-popping $75 Million to $150 million!
La Gorce Island residents live the country club lifestyle, where most residents are members of the ultra-exclusive La Gorce Country Club.
Star Island, FL
Star Island is one of the richest suburbs in Miami. It’s where the super rich live in Miami- an acre waterfront lot (just the lot, you still have to build the house) sells for over $30 million!
It’s not uncommon for homes at Star Island to sell for $75 million! The gated community of Star Island is one of the most expensive neighborhoods in Miami!
The Moorings, FL
The Moorings is a private community in Miami with pricey homes for the super rich. With price tags in the $5 million range for a 5000 square feet home and homes going for $18 million for a 15,000 sq feet home, only the richest people in Florida can afford to live in The Moorings.
Gables Estates, FL
Gables Estates is one of the most expensive neighborhoods in Miami. Home prices at Gables Estates are not for the faint of heart- luxury waterfront homes with private docks go for over $20 million!
Residents of Gables Estates have it all, waterfront homes, a gated community, and close proximity to Miami.
Pinecrest is one of the richest suburbs in Miami. It is a rich neighborhood near Miami with a median sales price of $1,874,000. Luxury mansions at Pinecrest sell for over $10 million and it’s not easy to find a move-in ready home with a $2 million budget!
Pinecrest residents live the best life with gated driveways, beautiful parks, and a family friendly vibe.
Southwest Ranches, FL
Southwest Ranches is one of the richest suburbs in Florida. Home to many celebrities and pro-athletes, Southwest Ranches is one of the most expensive neighborhoods in Miami with a median sales price of $1,476,000.
You need serious cash to buy a home in this wealthy Miami suburb where $2 million gets you a modest home and you will need at least $7 million to buy a luxury mansion.
Southwest Ranches residents have it all- an exclusive neighborhood in a rural residential setting within a short drive to Miami and Fort Lauderdale.
Housing Market data in this article is from Redfin and Realtor.com. Median Sales Prices are for homes sold from January 2022 to December 2022.
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