Priciest American neighborhood title taken from Beverly Hills, California, and now held by a Florida community

In a surprising turn of events, Gables Estates in Coral Gables, Florida has surpassed the long-standing prestigious area of Beverly Hills, California to become the most expensive neighborhood in the United States.

According to the Zillow home value index, which captures the value of a typical property across the nation or neighborhood using metrics such as sales transactions, tax assessments, public records, square footage, and location, Gables Estates currently holds the top spot.

The exclusive waterfront community features luxurious mansions, lush landscaping, and a canal system connecting directly to Biscayne Bay. Gables Estates began development in the 1920s and includes an estimated 160 to 180 properties. Residents enjoy high-level security with 24/7 armed guards on land and water, and entry into the community requires a $100,000 non-refundable application fee to the larger Gables Estates Club.

Home listing prices in Gables Estates often exceed $21 million, as reported by Zillow. The greater Miami area has experienced an influx of wealth migrating in the post-COVID era, with more than $14 billion in income flocking to Florida between 2017 and 2022. This influx has contributed to the rise of Gables Estates as the priciest neighborhood in the U.S.

Seven of the 10 priciest neighborhoods are located in Florida, with the remaining three in California. The most expensive neighborhood in the U.S., after Gables Estates, is Port Royal in Naples, Florida. Meanwhile, the least expensive neighborhood on Zillow's list is Bullard Hill in Jackson, Mississippi, with an average home value of $24,026.

Two other Florida neighborhoods, Rivo Alto Island and Palm Island in Miami Beach, as well as San Marino Island in Miami Beach, also make the list of the 10 most expensive neighborhoods in the U.S. Shady Canyon in Irvine, California and Beverly Hills Gateway in Beverly Hills, California round out the top five.

The rise of Gables Estates as the most expensive neighborhood in the U.S. is a testament to the allure of luxury development, favourable tax laws, and the influx of wealthy residents seeking alternative high-end locations. This shift has seen both West Palm Beach and Miami surpass New York City as the world's fastest-growing wealth hubs according to the Henley & Partners World's Wealthiest Cities Report for 2025.

While Gables Estates may be the most expensive, it is not the only exclusive neighborhood in Florida. Coral Gables-based CEO Fernando de Nunez y Lugones stated that Gables Estates offers privacy, sophistication, and livability that Beverly Hills does not. Other pricy neighborhoods in Florida include Old Cutler Bay, which ranks as the third most expensive neighborhood in the U.S., and Bear's Club in Jupiter, which ranks eighth.

This shift in wealth and development in Florida underscores the changing landscape of luxury real estate in the U.S., with traditionally prestigious areas like Beverly Hills being surpassed by up-and-coming neighborhoods in Florida.