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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.
Average Home Price: $3,483,300
Average Rent: $12,000
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.
Average Home Price: $1,807,100
Average Rent: $10,281
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.
Average Home Price: $482,600
Average Rent: $10,000
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.
Average Home Price: $1,520,300
Average Rent: $10,500
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.
Average Home Price: $1,045,900
Average Rent: $6,500
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.
Average Home Price: $1,176,400
Average Rent: $5,490
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.
Average Home Price: $521,000
Average Rent: $3,000
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.
Average Home Price: $546,300
Average Rent: $3,500
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.
Average Home Price: $1,558,300
Average Rent: $16,805
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.
Average Home Price: $472,500
Average Rent: $2,498
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.
| 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.
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.
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’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.
