Along Florida’s sun-kissed coastline, there are areas of luxury that draw people who want to live a life of luxury. From private homes on the water to prestigious neighborhoods in the city, these places are the most luxurious and expensive in the Sunshine State.
With lively cultural scenes, beautiful beaches, and top-notch services, these places offer a level of sophistication and comfort that can’t be found anywhere else. In this article, we look at the five most expensive places to live in Florida.
These are the places where every street smells like wealth and every house is a model of classy living. Come with us on a tour of some of Florida’s wealthiest areas.
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1. Highlands Beach, Florida
properties.com provides information about the average selling price of properties in Highland Beach. Although not the most expensive place to live in Florida, it is the ninth most expensive. The average property price is $1,410,664.
It is difficult to find a home in this city for under $425,000. The cost of property, even a small dwelling, is considerable simply for the luxury of living in the neighborhood. Many properties in Highland Beach sell for millions of dollars. This community likewise has a high cost of living.
2. Surfside, Florida
Surfside is a small town with only 5,725 people living there. The median home value in Surfside is $625,500, with a median family income of $69,063. The property price-to-income ratio and income-to-rent ratio make it difficult to make ends meet unless you have a large personal wealth. Surfside is a beautiful community that everyone wants to live in, which explains why homeownership is so expensive.
3. Miami, Florida
Miami is a significant metropolitan area with some of the most popular attractions in the state. It attracts travelers who want to enjoy the city’s facilities while also hoping to catch a glimpse of the throngs of celebrity actors, directors, and star musicians who frequent the city’s clubs and hot places. However, living there is pricey.
4. Key West, Florida
Key West is a refuge for ambitious young professionals. It’s a hub for entrepreneurs, and many of these aspiring business owners are well-off. Residents’ affluent lifestyles are funded by the technology industry and tourism. It’s a fantastic place to live if you can afford it.
5. Miami Beach, Florida
Miami Beach’s average property price is $1,490,083. This surpasses the previous two cities on our list of the most expensive places to live. This city is home to 90,000 people and is a popular holiday destination for the wealthy and famous. While there are a few properties that cost $230,000 or more, this is a location for the wealthy.
If you have the funds, it can be one of the most beautiful places to live on the planet. It’s difficult to locate a home that doesn’t have a spectacular view, which drives up the value. The city is located on barrier islands between Biscayne Bay and the Atlantic Ocean, and it’s a small slice of paradise.
6. Key Largo, Florida
Key Largo is considerably more pricey than Highland Beach. Celebrity film actors Humphrey Bogart and Loren Bacall made this location famous. The average selling price of a Key Largo property is $1,460,814. The ordinary retiree would most certainly use their life savings to make a down payment, only to struggle to pay annual property taxes. However, Key Largo does have some cheaper properties.
We browsed through the Home.com ads and saw a handful for roughly $215,000. We did, however, learn that several of the properties selling for $450,000 have little property and aging mobile houses on them that need to be replaced. Key Largo’s real estate is highly valued.
7. West Miami, Florida
West Miami is a small hamlet of only 7,788 people. It costs considerably more to live there than in Aventura. The median family income is just $49,942 per year, and the median home value is $335,800. In this little community, buying a home is more expensive.
Conclusion
People who like the finer things in life are drawn to these private communities in Florida, which are known for their luxurious homes and high-end services. From Highland Beach to Key Largo, these top places offer a luxurious and sophisticated way of life, making them Florida’s wealthiest areas.
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