10 Most Expensive Places to Live in Florida

By: ROS Team

Share the Post:

Florida, with its beautiful beaches, warm climate, and diverse cultural offerings, has long been a popular destination for those seeking a sunny and vibrant lifestyle. However, paradise comes at a price, the cost of living in some parts of the Sunshine State continues to rise.

If you’re considering making Florida your home and have a high budget, these are the 10 most expensive places to live in the state.

Florida Most Expensive Places to Live

1. Fisher Island

Average Home Price: $3,483,300
Average Rent: $12,000

Fisher Island, Florida
Photo Credit: Canva

 

Fisher Island, located just off the coast of Miami, has held the title of Florida’s most expensive zip code for several years. Accessible only by ferry, this exclusive enclave boasts luxurious waterfront homes and world-class amenities. Residents enjoy a private beach, a championship golf course, and a spa. With a median home price in the millions, Fisher Island is truly the epitome of opulence.

2. Palm Beach

Average Home Price: $1,807,100
Average Rent: $10,281

Palm Beach, Florida
Photo Credit: Canva

 

Palm Beach, an afflue­nt island town renowned for its upscale boutique­s and majestic estates, stands as Florida’s most expensive place to live. A magnet for ce­lebrities, business le­aders, and social elites alike­, this exclusive destination allure­s them with its pristine beache­s and opulent lifestyle. With a me­dian home price nearing two million dollars, Palm Be­ach undoubtedly serves as a playground for the­ affluent.

3. Miami Beach

Average Home Price: $482,600
Average Rent: $10,000

Miami Beach, Florida
Photo Credit: Canva

 

Miami Beach, re­nowned for its captivating art deco architecture­ and vibrant nightlife, has always been a sought-afte­r destination among the affluent and famous. The­ city offers an array of opulent condos and waterfront prope­rties that boast substantial price tags. Residing in the­ heart of South Beach or on the e­steemed Star Island can transform into an aspiration fulfille­d for those fortunate enough to afford it.

4. Key Biscayne

Average Home Price: $1,520,300
Average Rent: $10,500

Key Biscayne, Florida
Photo Credit: Canva

 

Key Biscayne, an island town just a short drive from Miami, is celebrated for its natural beauty and high-end properties. With scenic parks, pristine beaches, and a tight-knit community, this charming locale is a top choice for those with a substantial budget.

5. Naples

Average Home Price: $1,045,900
Average Rent: $6,500

Naples, Florida
Photo Credit: Canva

 

Naples, located on the Gulf Coast of Florida, is renowned for its upscale shopping, fine dining, and stunning waterfront homes. With a median home price comfortably above a million dollars, Naples remains one of the most coveted addresses in Florida.

6. Coral Gables

Average Home Price: $1,176,400
Average Rent: $5,490

Coral Gables, Florida
Photo Credit: Canva

 

Coral Gables, often referred to as the “City Beautiful,” is a historic and affluent city in the Miami metropolitan area. Mediterranean-style mansions and tree-lined streets define the area’s charm. The city’s beautiful architecture and upscale lifestyle come with a premium price tag.

7. Fort Lauderdale

Average Home Price: $521,000
Average Rent: $3,000

Fort Lauderdale, Florida
Photo Credit: Canva

 

Fort Lauderdale, often overshadowed by its glitzy neighbor Miami, is no stranger to luxury living. Waterfront properties, exclusive gated communities, and a thriving arts scene make Fort Lauderdale a desirable destination for affluent residents.

8. Boca Raton

Average Home Price: $546,300
Average Rent: $3,500

Boca Raton, Florida
Photo Credit: Canva

 

Boca Raton, located in Palm Beach County, boasts a high standard of living with pristine beaches, top-rated schools, and upscale dining options. The median home price is substantial, attracting those who appreciate the finer things in life.

9. Bal Harbour

Average Home Price: $1,558,300
Average Rent: $16,805

Bal Harbour, Florida
Photo Credit: Canva

 

Bal Harbour, a small seaside village north of Miami Beach, is synonymous with luxury shopping and oceanfront living. The Bal Harbour Shops are home to the world’s most exclusive brands, and the area’s real estate reflects the same opulence.

10. Aventura

Average Home Price: $472,500
Average Rent: $2,498

Aventura, Florida
Photo Credit: Canva

 

Aventura, locate­d in the heart of Miami-Dade County, is re­nowned for its perfect ble­nd of luxurious living and diverse cultural expe­riences. This vibrant area boasts wate­rfront condos, picturesque golf courses, and upscale­ shopping centers that define­ its allure.

Despite be­ing comparatively more affordable than ce­rtain other destinations on this list, Aventura re­mains an esteeme­d choice for those yearning to indulge­ in opulence.

Florida Cost Of Living By City

City Cost of Living Florida Average
Fisher Island 118.9 103.1
Palm Beach 114.1 103.1
Miami Beach 118.9 103.1
Key Biscayne 118.9 103.1
Naples 113 103.1
Coral Gables 118.9 103.1
Fort Lauderdale 110.5 103.1
Boca Raton 114.1 103.1
Bal Harbour 118.9 103.1
Aventura 118.9 103.1

The above mentioned stats are reported by BestPlaces.

Is West Palm Beach A Rich Area?

The cost of living in West Palm Beach is higher than the national average, but it is lower than in some other nearby cities, such as Palm Beach and Boca Raton. The median home price in West Palm Beach is around $375,000, and the median household income is around $54,000.

Is Palm Beach Florida Expensive?

Yes, Palm Beach is one of Florida most expensive places to live. As already mentioned above, the cost of living in Palm Beach is 114.1 which is higher than Florida’s average of 103.1.

Florida Most Expensive Place to Live: Final Words

Florida’s reputation as a haven for the rich and famous continues to hold. The 10 most expensive places to live in the state offer an exclusive and opulent lifestyle that appeals to high-net-worth individuals.