10 Richest Cities in Florida

Florida is one of the most popular states in the United States. Known for its warm weather, beautiful beaches, and diverse population.

It is also home to several wealthy cities where the cost of living is higher than the national average. So, I decided to take an in-depth look at the wealthiest cities in Florida based on their average household income.

The 10 Richest Cities in Florida

Palm Beach

Palm Beach is located on a barrier island in South Florida. According to the most recent U.S. Census Bureau data, it is the wealthiest city in Florida, with an average household income of $133,156. With luxurious estates, high-end shopping, and beautiful beaches. Making it a highly desirable location for the wealthy to live and vacation.

Palm Beach’s real estate market is one of its most notable features. Many of the homes in the city are multi-million dollar estates with sprawling gardens, private beaches, and stunning views. Business executives, celebrities, and other wealthy individuals who value the island’s privacy and exclusivity own these homes.

An outstanding example…

One of Palm Beach’s most expensive properties is the historic Mar-a-Lago estate. Purchased by former President Donald Trump in 1985, that’s now a private club.

In addition to its real estate market, Palm Beach is also famous for its high-end shopping. The city includes Worth Avenue, a renowned shopping district with some of the world’s most upmarket fashion brands, including Chanel, Gucci, and Louis Vuitton. Other shopping destinations in Palm Beach include the Royal Poinciana Plaza and The Esplanade.

Then, of course…

Palm Beach’s beaches are also a major draw for tourists and residents alike. The city’s pristine white-sand beaches are loved for their crystal-clear waters and stunning sunsets. Popular beaches include Midtown Beach, Phipps Ocean Park, and Palm Beach Municipal Beach.

The city’s population is just under 9,000. But it is home to many influential individuals. Palm Beach has been a popular destination for business executives and entrepreneurs. Those who enjoy the city’s exclusive lifestyle and proximity to major cities like Miami and New York.

In addition, Palm Beach has been chosen by many celebrities as a place to reside permanently, including Rod Stewart, Rush Limbaugh, and Howard Stern.

Key Biscayne

This is a hidden gem located just a few miles from Miami. This small island city is a haven for those who love the outdoors, with miles of immaculate beaches, parks, and nature reserves. Visitors and locals can enjoy snorkeling, kayaking, and paddleboarding in crystal-clear waters. One of the most popular spots on the island is Bill Baggs Cape Florida State Park, where visitors can hike, bike, or simply relax on the beach.

Who lives here?

Key Biscayne is a small community of about 13,000 people. The average household income in the town is $167,990. Many wealthy retirees and professionals flock to the island for the fabulous lifestyle and easy access to the cultural offerings of Miami.

This area is also known for its opulent real estate, with many of the island’s residences boasting breathtaking ocean views and first-rate amenities. The island’s most exclusive neighborhoods include Mashta Island, Harbor Drive, and Cape Florida Drive, where homes can fetch upwards of $20 million.

Fine dining anyone?

Despite its small size, Key Biscayne offers a range of dining and shopping options, from quaint cafes to high-end boutiques. The restaurant scene on the island is diverse, offering everything from fresh seafood to international cuisine. And for those wanting some retail therapy, the nearby Brickell City Center and Bal Harbour Shops offer an array of luxury brands and designer stores.

Fisher Island

Located just south of Miami Beach, this is one of Florida’s most exclusive and affluent communities. The average household income on Fisher Island is $423,490. This private island spans 216 acres and is home to some of the wealthiest individuals in the country. It can only be reached by boat or helicopter, making it one of the area’s most secure and private areas.

It has a rich history, once serving as the winter estate of the Vanderbilt family in the 1920s. Moreover, Fisher Island boasts high-end homes, an exclusive country club, and a private marina. The island boasts a championship golf course, tennis courts, and a world-class spa and fitness center.

A haven for those who value privacy and high-end luxury…

Its Mediterranean-style villas and condominiums are exquisitely designed and offer breathtaking views of the Atlantic Ocean and Biscayne Bay. And private pools, outdoor kitchens, and expansive balconies are common features of Fisher Island homes.

Primarily wealthy retirees and successful business executives reside in the small city. Oprah Winfrey, Mel Brooks, and Boris Becker all regularly visit the island because of its exclusivity and privacy.

In addition to flawless amenities, residents have some of the best dining and shopping in the Miami area. It has several restaurants serving a variety of cuisines, from casual to fine dining. There are also several high-end boutiques and shops on the island, offering a variety of luxury goods.

Pinecrest

Next up, on my rundown of the 10 Richest Cities in Florida, Pinecrest is a truly beautiful city in Miami-Dade County, with a median household income of $119,411. It is located approximately 20 miles south of downtown Miami and has a population of around 17,987. Coral Gables to the north, South Miami to the east, Palmetto Bay to the south, and Miami-Dade County’s unincorporated area to the west border the town.

One of the most notable features of Pinecrest is its large homes with spacious yards, many of which are on shady streets.

But that’s not all…

Single-family homes predominate in the city’s residential areas, ranging from modest ranch-style homes to sprawling estates with private pools, tennis courts, and well-manicured gardens. As a result, Pinecrest has become a popular destination for families and professionals looking for a high quality of life in a peaceful suburban setting.

Another draw of Pinecrest is its excellent schools…

The city has the Miami-Dade County Public Schools system, which includes some of the state’s highest-ranked public schools. Here, you’ll find Pinecrest Elementary School, Palmetto Middle School, and Miami Palmetto Senior High School. All of which have received A-ratings from the Florida Department of Education.

In addition to its residential areas, Pinecrest is also home to several shopping and dining destinations, including The Shops at Pinecrest, a high-end outdoor shopping mall with over 50 stores and restaurants.

There are also several parks and recreational areas, such as Pinecrest Gardens, which features botanical gardens, a petting zoo, and an outdoor amphitheater that hosts concerts and events throughout the year.

Gulf Stream

Gulf Stream is a small city on the east coast of Florida in Palm Beach County. With a population of just over 1,000, it’s enjoyed for its stunning oceanfront homes, large estates, and private golf courses. The average household income in Gulf Stream is $118,750, which is among the highest in the state of Florida.

But one of the main draws of the Gulf Stream is its beautiful beaches. The city has a small, spotless beach area open only to residents, providing a peaceful and secluded atmosphere. Outdoor activities available include fishing, boating, and golfing. The Gulf Stream Golf Club and the nearby Delray Dunes Golf & Country Club are two of the area’s private golf clubs.

Once again…

The Gulf Stream is also known for its large estates and luxurious homes. Many of the residences in the city are situated on spacious lots that boast expansive ocean views. The town has a strict building code that ensures new construction and renovations are in keeping with the area’s aesthetic and character.

Location location…

The city’s population consists of retirees and wealthy families drawn to its tranquil atmosphere, high-end amenities, and proximity to other wealthy enclaves in the Palm Beach area. While the area itself is small, it is just a short drive from bustling Delray Beach and other nearby communities. Offering residents access to cultural, dining, and entertainment options.

Sanibel

A picturesque island city located off the coast of Fort Myers, Sanibel has an average household income of $117,994. Making it one of the wealthier communities in the state of Florida. Sanibel Island is renowned for its natural beauty, which includes miles of unspoiled beaches, clear waters, and lush vegetation.

One of the main attractions in Sanibel is, therefore, its beaches. The city has 15 miles of gorgeous beach lined with 5-star resorts and hotels. Visitors to the island can enjoy swimming, sunbathing, and many water activities.

It’s more for nature lovers than sunbathers…

Sanibel is also home to several nature preserves and wildlife refuges, including the J.N. “Ding” Darling National Wildlife Refuge. So, it’s a popular destination for birdwatchers, hikers, and nature lovers. In fact, it is home to over 245 species of birds, as well as alligators, manatees, and other wildlife.

In addition to its gorgeous natural surroundings, Sanibel includes high-end resorts, restaurants, and shopping. Upscale dining is on offer, featuring fresh seafood and locally sourced ingredients. Sanibel’s shopping scene also hosts many boutique stores and galleries selling one-of-a-kind souvenirs and handmade crafts.

Sanibel is, therefore, a popular retirement destination…

With retirees drawn to the city’s relaxed atmosphere, warm climate, and recreational opportunities. Many retirees buy homes in Sanibel’s gated communities or beachfront condos. To take advantage of the island’s beautiful public spaces and luxury amenities.

Longboat Key

Just off the coast of Sarasota, Longboat Key is a barrier island city with an average household income of $111,364. Again, the city provides stunning white sand beaches, high-end resorts, and exclusive golf courses. Making it another favorite among retirees and vacationers.

Those with a 5-star budget to spend…

The island city is home to several 5-star resorts and spas that offer a range of amenities, such as private beach access, gourmet dining, and world-class spa treatments. There are also some exclusive golf courses, such as the Longboat Key Club, which has 45 holes of championship golf and an opulent clubhouse.

Longboat Key also has several nature preserves, such as Joan M. Durante Park and Whitney Beach Nature Preserve, where visitors can explore the island’s natural beauty. Durante Park, in particular, offers visitors top-notch walking trails, boardwalks, and picnic areas.

How is this different from all the others?

Well, there is a vibrant arts and cultural scene, with galleries and museums displaying works by local and international artists. Longboat Key Center for the Arts is a community center that provides classes and workshops in various art forms, like painting, pottery, and photography.

It is also appreciated for its fine dining, with upscale restaurants serving a range of cuisines. Some popular dining options in the city include the Dry Dock Waterfront Grill, Euphemia Haye Restaurant, and The Lazy Lobster.

Jupiter Island

This is another small, exclusive barrier island in Martin County. With an average household income of $109,881, it is not quite as rich as the previous seven cities. Yet, this island still boasts choice homes, pristine beaches, and a private country club, which is only accessible to island residents and their guests.

Jupiter Island is a popular destination for wealthy retirees and business executives looking for a quiet, exclusive neighborhood to call home. And the island’s residents enjoy a high quality of life thanks to its natural beauty, world-class amenities, and top-rated schools.

But it’s the quality and size of the plots that are the biggest draw…

The large estates along its coastline are one of the island’s main attractions. These homes offer breathtaking views of the Atlantic Ocean and provide extravagant amenities like huge private swimming pools, tennis courts, and home theaters.

In addition to its stunning homes, Jupiter Island has an exclusive country club that offers its members access to a private golf course, tennis courts, and many social activities. The club’s facilities are A-grade, and its members enjoy high living that is hard to find elsewhere.

The beaches on the island are beautiful and provide plenty of opportunities for swimming, sunbathing, and water sports. The island is also home to several nature preserves, perfect for hikers and ornithological enthusiasts.

Indian River Shores

Indian River Shores is a small but affluent coastal city in Indian River County, Florida, with an average household income of $104,583.

The city’s main draw is its beautiful beaches, ideal for dipping, sunbathing, and water sports like paddle boarding, surfing, and kayaking. It has several beachfront parks, such as Riverside Park, which offers a playground, picnic facilities, and a scenic boardwalk.

It is also home to many large estates on the oceanfront, offering uninterrupted views of the ocean. Many of these are owned by wealthy retirees who have chosen to spend their golden years here.

In addition, many private clubs can be found here. The city has several exclusive golf clubs, including the John’s Island Club, which boasts three championship golf courses, a private beach club, and other leisurely amenities.

Windermere

Last but not least on my list of the 10 richest cities in Florida is Windermere, a suburban city near Orlando with an average household income of $101,161. With large homes, more tree-lined streets, and excellent schools, it is another sought-after area among rich families and professionals.

A charming city in Orange County, it is chosen by those looking for a peaceful suburban lifestyle with easy access to the vibrant city of Orlando.

Some of its affluent homes are situated on the shores of Lake Butler, one of the area’s many lakes. Windermere is also home to some of the top-rated schools in the state.

Making it a popular choice for those with children…

Aside from its residential areas, it has a charming downtown area with a variety of local shops and restaurants. The city also has several parks and recreational areas, including the Butler Bay Recreation Area, which offers fishing, boating, and picnicking facilities.

Another great attraction for those with kids…

Windermere is just a short drive from some of Orlando’s top attractions, including Walt Disney World Resort, Universal Studios, and SeaWorld. So, with easy access to major highways and transportation hubs, residents can enjoy the best of both worlds. The peacefulness of suburban living and the excitement of a metropolitan entertainment district.

Want to Compare Florida with Other Rich States?

Then why not start by taking a look at the Richest Neighborhoods in America overall? Then on through various states and districts, like the 10 Richest Cities in Texas, the Richest Towns in Massachusetts, the Richest Towns In New Jersey, and Richest Cities in California in 2023.

Or maybe you’re curious about How Big is a Mansion?

What do you need to earn to own a mansion?

Well, check out What Percentage of Americans Are Millionaires, along with Jeff Bezos Companies, to get a clear picture of the type of wealth we’re referring to.

Then, if you want to explore how to get there yourself, check out these Careers That Make You Rich or the Best 6 Figure Jobs to set you on your way.

Back to…

Final Thoughts

As you can see, Florida is home to several wealthy cities with high average household incomes. From Palm Beach to Windermere, these cities all offer almost equally luxurious lifestyles, breathtaking scenery, and highly exclusive amenities.

Whether you are a retiree, business executive, or rich housewife, living in any of these cities certainly qualifies as the good life.

Cheers to that!