The Richest Neighborhoods in Miami

What are The Most Expensive Neighborhoods in Miami to Live?

Looking at the richest neighborhoods and expensive zip codes it’s easy to find expensive and stunning real estate. This blog is not just about bragging about how expensive real estate can be. I wrote it with active luxury buyers in mind. Providing an economic and social analysis of the most expensive neighborhoods as well as links to all the best listings.

As a luxury real estate broker selling for over 15 years, I have noticed how the number of luxury homes and Condos sold has drastically increased over the last couple of years. Below I drill down not just into the neighborhoods but also into specific Condo buildings. I do this for both new and pre-construction Condos as well as gated communities within Miami. Great wealth exists across Miami but it becomes functionally useful to focus on small pockets. These Islands, Communities, and Streets are where we find the greatest focus of luxury real estate. As always please feel free to call, email, or text with questions:  +1 305 508 0899. My email is:

I provide links to several of our key analytics pages so you can see what numbers you should be expecting to trade in these markets as well as their historical performance. Were these neighborhoods and community pockets always so luxurious serving ‘Old Money’ or have they transitioned from something else?

Miami Beach – Indian Creek Island

Indian Creek Island DSG

Miami’s Billionaire Bunker as it is known, home to just 40 properties on 250 acres. An island of only 0.4 square miles, one of the smallest, richest, and most elite neighborhoods in America. The island is home to the ultra wealthy: Forbes 100 CEOs, supermodels and Hollywood A-listers. The island is so secure and private that it has its own 24/7 police force that patrols the island via boat, jeep, and jet ski. There is only one bridge entrance to the island with the closest neighborhood of Bal Harbour in its door steps. The only downside is that properties very rarely come up. Currently only 1 for sale on the market and no recorded MLS sales in the last 4 years.

Miami Beach – North Bay Rd (waterfront lots)

North Bay road Miami Beach DSG

North Bay Rd is often considered as the prime street location for Miami Beach residents. It’s just a couple minutes away from Lincoln Rd, Purdy Ave and other prime beach locations. North Bay Rd is quiet and picturesque, which is ironic considering it runs parallel to the very busy Alton Rd. These exclusive waterfront homes enjoy solid inter-coastal views and are on a par with homes on Hibiscus Island.  What are Miami’s Richest, Most Exclusive and Expensive Neighborhoods for 2020?

Miami Beach – Palm and Hibiscus Island

Hibiscus Island DSG

The Venetian Islands is often the most referred to Islands. Comprised of six man-made islands, connected by a private road called the Venetian Causeway. The Venetian Islands are situated along Biscayne Bay and within convenient distance of many of Miami’s hotspots. Upscale shopping, fine dining, art galleries, and cultural events of Downtown Miami, Brickell, and Wynwood are all within minutes from the these islands. With that said the more private Palm and Hibiscus Island provide security and less traffic which makes them safer for walks and runs. The neighborhoods also have a guard gate, tennis courts and park, which the Venetians do not. The east and West facing waterfront properties command the highest value on Palm, while the North facing homes on Hibiscus command the best views.

Miami Beach – Star Island

Star Island DSG

As the name suggests, this island is often associated with the homes of the rich and famous. The downside here is that you are going to have to deal with the boats of tourists coming past the property to gawp. Star Island has some extremely high-end real estate and particularly on the corners of the island where the largest lots sit. 

The Venetian Islands

The Venetian Islands - Miami Beach homes in Gated Communities DSG

One of Miami’s most desired waterfront neighborhoods and a hotspot for luxury buyers from the northeast and California. The Venetian Islands are known for the many brand-new, waterfront mansions and this is definitely a place to consider if you want to be in one of Miami’s most exclusive neighborhoods. Not the ideal waterfront for families because fast traffic makes for a hazardous kids’ bike ride. Accessibility to Brickell, Wynwood, and the Design district is excellent. As is access to Sunset harbor on the beachside.

Fisher Island Condos – Palazzo dela Lunna & Del Sol

The Investment Value of Fisher Island - A Fisher Island Condo Analysis DSG

In 2018, Fisher Island was the 10th most expensive zip code in the US and the most expensive in Miami Dade, although this could be misleading. With that said it may have some of the most expensive condos (courtesy of buildings like Palazzo del Sol), but not the most expensive single-family homes because the lots are not that big and neither are the homes. If you want an ultra-private condo environment then this could be it as you have to take a ferry to get to the Island. A 9-hole golf course, 18 tennis courts, beach clubs and multiple restaurants makes this a private island with panache!

Miami Beach Condos – South of Fifth and Bal Harbour

What Are the Best South of Fifth Condos For Sale in 2019? DSG

South of Fifth is still considered by many as the premier condo neighborhood for Miami. Home to the most established restaurants: Joe’s Stone Crab and Prime 112. This established neighborhood is most void of hotels and has a solid primary number of residents. The dominant luxury buildings here are: Continuum, Apogee, Ocean House, 321 Ocean and Glass. Expect to pay between $2000 – $2700 per SqFt for the best of the best.

With that said South of Fifth is no longer the most expensive. Surfside is home to the Four Seasons, Fendi, Arte and 87 Park. Because of these buildings average $ per sqft exceeds South of Fifth.

Coral Gables – Gables Estates

Miami Luxury Real Estate Analysis -The Luxury Real Estate market over the years DSG

This incredible gated community is home to a solid number of direct ocean facing homes (only 42 direct ocean facing homes exist in Miami). Leucadendra drive, Arvida Parkway and Casuarina Concourse are the streets. If you want a couple of acres on the open water then this is one of the few places you will find it. The best schools in the state are mere minutes away and there are a number of excellent Golf Courses, as is the heart of Coconut Grove and Coral Gables. Truly the best suburban living environment that Miami has to offer.

Coral Gables  – Tahiti Beach

What are Miami's Richest, Most Exclusive and Expensive Neighborhoods for 2020? DSG

An ultra-luxury community inside the existing luxury community of Cocoplum. Not the kind of community you can drive around. You will need a personal invite by a resident just to get through the gates. Again like Gables Estates, you are looking at prime open water views of the ocean. 

Key Biscayne – Harbor Point / Mashta Island

What are Miami's Richest, Most Exclusive and Expensive Neighborhoods for 2020? DSG

Surprisingly there are actually only 42 direct waterfront homes in Miami without any obstructed views of the ocean. S Mashta Drive and Harbor Point are the best two streets where a 20,000 SqFt lot will cost you around $10M and you will find some pretty spectacular contemporary homes here of 10,000 SqFt or more. Why Key Biscayne? This 12 mile island is close to Brickell, Grove and Gables. A very self contained island where even very young kids get to ride their bikes to the island’s A rated school; St Agnes. Island living at its best without the excessive isolation!

Coconut Grove – Camp Biscayne and The Moorings

What are Miami's Richest, Most Exclusive and Expensive Neighborhoods for 2022? DSG

Coconut Grove used to be a bohemian and artsy hangout. There are still a few older homes in this neighborhood that can make it have a very mixed feeling. If you drive through either North the South Grove you will see a few of these homes but with that said the Grove underwent a huge renaissance from 2015-2022. It started with the Wall Street Journal article ‘From Birkenstocks to Billionaires’. After that things took off the Cocowalk area got a revamp and so many buyers moved in, tore old homes down and started to build. Additionally, long the water of the Biscayne Bay you will find some of Miami’s most expensive real estate ever built.

Although the Grove is relatively small those homes within walking distance to the shops and restaurants of the Grove have drawn the highest amount of attention. With that said the Grove has by majority small lots. You will find around a few 20k lots but not many. It does not hold a candle against its direct neighbor Coral Gables in terms of wealth. Coral Gables is home to gated communities likes Gables Estates, Journeys end and Tahiti beach and its dry lot ‘none waterfront’ champions: Snapper Creek and Hammock Lakes.

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These are the most commonly asked Google Real Estate Related questions

What are considered the 10 best neighborhoods in Miami - in general?

This is a big question with a big answer! Best click here to read our most recent: 11 best neighborhoods in Miami. 

What is the best waterfront area of Miami to live?

For those who want an incredible second home on the water and are focused on entertaining then focus on the Venetian Island and Sunset Islands. Also consider the waterfront homes on North Bay Rd. If you want Miami Beach Island living and a family-friendly gated environment then Palm or Hibiscus Islands work well.

Which neighborhood has the highest level of security?

For those where safety and security are of paramount importance then Star Island, Indian Creek as well as Fisher Island (for Condos) will be a focus.

What Luxury Condos have the highest level of Security in Miami?

There are additionally some exceptional buildings that provide ‘embassy level’ security such as Apogee or the new Perigon on Miami Beach. Check out our Top 10 Miami Condos for more detailed info or the best new Construction Condos article.

Which is the best luxury Community for rich families in Miami?

The best luxury Communities for rich families who want to be close to the best private schools there is Gables Estates, Journeys End, and Hammock Lakes. All are found in the mainland neighborhood of Coral Gables. Tahiti beach is also of consideration for those who want a luxury gated community (also in the Gables) and for those who want the added benefit of an impenetrable security gate.

What is the best ‘dry lot’ luxury neighborhood for wealthy families in Miami?

The  best non-waterfront luxury real estate I believe is Ponce Davis, Snapper Creek (found in Coral Gables), and the superb enclave of ‘Ye Little Woods’ (found in Coconut Grove).

Are there any beachfront homes for sale in Miami?

The best beachfront homes for the wealthy are limited to just two areas: Altos Del Mar and Golden Beach. Key Biscayne is a rich neighborhood for those who want the country club lifestyle of Tennis, Golf, and Sailing all at once.

What is the most expensive Condo in Miami?

The most expensive luxury Condo neighborhood for the rich was always South of Fifth and although this is still home to luxury Condos like Continuum and Apogee. This neighborhood however has been superseded as the most luxurious and expensive. The Surfside Four Seasons in Surfside now holds the crown with sales over $6000 per sqft in 2022. It is worth mentioning the luxury and expensive 87 Park which is also close by. The future most expensive luxury area of the beach looks to potentially move down the beach. December 2022 we heard of a sale of the Perigon Penthouse at $7500 per sqft. The newly remodeled Raleigh Shore Club is also set to potentially break records but this won’t deliver until 2025.

Who is the best luxury broker in Miami?

Regardless of where you are looking my experience and analytics of selling luxury real estate allows me to focus at a granular level on the right property and the right price. I work with trophy properties both on and off the market. My track record has consistently been tuning into the right investment without excess noise and spending. Ask me about some of my record-breaking luxury sales over the years. I am happy to share some of that information just as I have here.


For all our analytics we are agents driving some very unique and advanced tech. We Provide a granular and custom experience that empower our clients with the insight and tools to understand the most complex behaviors of any local markets.

  • Analytical

    Over 100 reports produced to date

  • Knowledgeable

    Over 1800 published articles and counting

  • Experienced

    Over $2 billion in real estate sales

David Siddons

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