Florida neighborhood dethrones California's Beverly Hills as America's priciest community

Move over, Beverly Hills – there’s a new neighborhood taking the crown as America’s most expensive.

Gables Estates, a small gated community located in Coral Gables, Florida, has now taken Zillow’s top spot for the United States’ most expensive neighborhood, based on home value data over the last 12 months.

The neighborhood now tops Beverly Hills, California, long regarded as the pinnacle ZIP code of wealth.

“What makes Gables Estates unique is its privacy, sophistication and livability, which Beverly Hills doesn’t fully offer,” Coral Gables-based CEO and co-founder of Vertical Developments, Fernando de Nunez y Lugones, 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.”

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Seven of the 10 priciest neighborhoods are located in the Sunshine State, while the remaining three are in California.

“This is a long-term trend, not a blip,” Lugones said. “I remember reading last year that Coral Gables actually beat Beverly Hills, and it makes sense. Buyers and businesses are relocating here for lifestyle, taxes and the overall environment. South Florida is increasingly becoming known as Wall Street South, and Coral Gables stands out for its walkability, amenities and culture. Markets may fluctuate, but the appeal of space, security and community remains strong.”

Zillow’s home value index is “designed to capture the value of a typical property across the nation or the neighborhood,” its website states, by using metrics such as sales transactions, tax assessments, public records, square footage and location.

The greater Miami area has experienced an influx of wealth migrating in the post-COVID era. Between 2017 and 2022, more than $14 billion in income flocked to Florida – with more than $9.2 billion going to Palm Beach, Broward and Miami-Dade counties.

Additionally, Henley & Partners World’s Wealthiest Cities Report for 2025 found that both West Palm Beach and Miami surpassed New York City as the world’s fastest-growing wealth hubs. West Palm saw a 112% increase in millionaire growth over the last decade, while Miami saw a 94% increase.

Gables Estates is an exclusive waterfront community that features luxurious mansions, lush landscaping and a canal system that connects directly to Biscayne Bay. The neighborhood began development in the 1920s, and now includes an estimated 160 to 180 properties.

“We expect even more interest from ultra-luxury buyers looking to move to Coral Gables and the broader Miami area. As more buyers settle here, the neighborhood’s reputation as a world-class enclave will only continue to grow,” Lugones noted.

Its residents enjoy high-level security with 24/7 armed guards on land and water. Entry into the community means paying a $100,000 non-refundable application fee to the larger Gables Estates Club. Zillow notes that home listing prices often exceed $21 million.

“Coral Gables is naturally self-limiting since there’s only so much prime land, which helps protect against overexposure,” Lugones pointed out. “At the same time, its prestige and careful development standards allow it to handle national attention without compromising lifestyle or value. As long as growth remains measured, Coral Gables can sustain its momentum for decades.”

America’s top 10 most expensive and least expensive neighborhoods can be found below: