News Summary
Gables Estates in Coral Gables, Florida, has been named Zillow’s most expensive neighborhood in the U.S., surpassing Beverly Hills. With homes often listed over $21 million, this luxurious gated community attracts ultra-high-net-worth individuals. It features exclusive properties, extensive security, and a high level of privacy, while a significant influx of wealth signifies a trend toward Florida as a premier destination for luxury living. As economic dynamics change, Gables Estates exemplifies the shift in the luxury housing market.
Florida – Gables Estates, a luxurious gated community in Coral Gables, Florida, has officially been recognized as Zillow’s most expensive neighborhood in the United States, overtaking the renowned Beverly Hills, California. This ranking is based on comprehensive home value data gathered over the past 12 months, highlighting a significant shift in the luxury real estate landscape.
Properties in Gables Estates frequently command astonishing listing prices that exceed $21 million, showcasing the area’s appeal to ultra-high-net-worth individuals. The neighborhood consists of approximately 160 to 180 exclusive properties, with average home values aligning with those who earn above $250,000 annually. Notable listings include homes priced at $29.5 million and $47 million, replete with lavish amenities such as wine cellars and exquisite finishes.
Gables Estates boasts extensive security measures, including 24/7 armed guards and a monitored surveillance system, further enhancing its desirability among affluent buyers. Access to the community is restricted to non-residents, ensuring a high level of privacy for its current inhabitants. Additionally, a $100,000 non-refundable application fee is necessary to join the Gables Estates Club, which is the homeowners association for the community.
This rise of Gables Estates reflects broader trends in the luxury housing market, as seven of the top ten most expensive neighborhoods in the country are now situated in Florida, in stark contrast to three in California. CEO Fernando de Nunez y Lugones indicated that the migration of high-end buyers to Florida is not merely a fleeting trend but rather a sustained shift driven by favorable lifestyle conditions, tax benefits, and environmental factors.
The greater Miami area has experienced a substantial influx of wealth, with over $14 billion in income pouring into the region from 2017 to 2022. Of this, more than $9.2 billion specifically targeted Palm Beach, Broward, and Miami-Dade counties. The Henley & Partners World Wealthiest Cities Report for 2025 confirms that West Palm Beach and Miami have eclipsed New York City as the fastest-growing hubs for wealth, entrenching Florida’s position in the luxury real estate market.
West Palm Beach has seen a remarkable 112% increase in millionaire growth over the past decade, while Miami has recorded a 94% rise. As high-net-worth individuals increasingly seek relocation to areas benefiting from favorable tax environments and a vibrant lifestyle, neighborhoods like Gables Estates are becoming increasingly desirable.
Development in Gables Estates initiated in the 1920s, resulting in a neighborhood characterized by opulent mansions and peaceful streets. Each property often features expansive lots averaging around 56,240 square feet, complete with full-sized docks for yachts and lush landscaping. Furthermore, the community is situated near private educational institutions with high tuition costs, attracting wealthier families seeking top-tier education for their children.
The neighborhood’s appeal is further enhanced by its excellent walkability, desirable amenities, and a culture that emphasizes outdoor living. Residents enjoy access to scenic landscapes and charming surroundings, including historic architecture and rich cultural landmarks that embody the essence of Coral Gables.
As Gables Estates climbs to the forefront of America’s luxury real estate rankings, it underscores a pivotal moment in the housing market, signaling a shift toward Florida as a leading destination for affluent living.
Deeper Dive: News & Info About This Topic
- Fox Business: Florida Neighborhood Dethrones Beverly Hills
- Wikipedia: Luxury Real Estate
- Realtor: Royal Caribbean Chairman’s Mansion for Sale
- Google Search: Gables Estates Real Estate
- Business Insider: Gables Estates – Most Expensive Neighborhood
- Encyclopedia Britannica: Real Estate
- Funds Society: Miami Real Estate Sector Insights
- Google News: Miami Real Estate 2025
- Haute Residence: Reasons to Love Coral Gables Real Estate
- Bisnow: Coral Gables State of the Market
- New York Post: Miami’s Merrick Park District Development
Author: STAFF HERE PETERSBURG WRITER
ST PETERSBURG STAFF WRITER The ST PETERSBURG STAFF WRITER represents the experienced team at HEREStPetersburg.com, your go-to source for actionable local news and information in St Petersburg, Pinellas County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Grand Prix of St. Petersburg, Localtopia, and SHINE Mural Festival. Our coverage extends to key organizations like the St. Petersburg Area Chamber of Commerce and St. Pete Downtown Partnership, plus leading businesses in finance, manufacturing, and healthcare that power the local economy such as Raymond James Financial, Jabil, and Bayfront Health St. Petersburg. As part of the broader HERE network, including HEREJacksonville.com, HEREOrlando.com, HERETallahassee.com, and HERETampa.com, we provide comprehensive, credible insights into Florida's dynamic landscape.
