Beverly Hills has officially been dethroned. According to Zillow’s latest home value data, Gables Estates – a secluded waterfront enclave in Coral Gables, Florida – now ranks as the most expensive neighborhood in the United States.
Gables Estates has overtaken the iconic Beverly Hills ZIP code, long synonymous with wealth and celebrity. The Coral Gables community earned the top spot based on Zillow’s 12-month valuation metrics, which include property sales, tax records, square footage, and location.
“What makes Gables Estates unique is its privacy, sophistication and livability, which Beverly Hills doesn’t fully offer,” said Fernando de Nunez y Lugones, CEO and co-founder of Vertical Developments.
“Unlike Beverly Hills, which is known mostly for its name and history, Gables Estates is about the lifestyle and the experience, and that consistently draws ultra-high-net-worth buyers.”
Florida Dominates the Rankings
Seven of the ten most expensive neighborhoods in the country are now located in Florida, with only three remaining in California. Lugones emphasized that this shift reflects a broader trend:
“This is a long-term trend, not a blip. Buyers and businesses are relocating here for lifestyle, taxes and the overall environment.”
South Florida’s rise as a financial hub – often dubbed “Wall Street South” – has made Coral Gables especially attractive, thanks to its walkability, cultural offerings, and upscale amenities.
Migration of Wealth
Between 2017 and 2022, Florida saw an influx of over $14 billion in income, with Palm Beach, Broward, and Miami-Dade counties absorbing more than $9.2 billion of that total.
The Henley & Partners Wealth Report for 2025 also revealed that West Palm Beach and Miami have outpaced New York City as the fastest-growing wealth centers globally, with millionaire growth rates of 112% and 94%, respectively.
Inside Gables Estates
Originally developed in the 1920s, Gables Estates now comprises roughly 160 to 180 properties. The neighborhood features sprawling mansions, lush landscaping, and a canal system that connects directly to Biscayne Bay.
Homes often list for more than $21 million, and entry into the community requires a $100,000 non-refundable application fee to the Gables Estates Club.
“We expect even more interest from ultra-luxury buyers looking to move to Coral Gables and the broader Miami area,” Lugones added.
“As more buyers settle here, the neighborhood’s reputation as a world-class enclave will only continue to grow.”
Residents benefit from 24/7 armed security both on land and water, reinforcing the area’s appeal to high-net-worth individuals seeking exclusivity and safety.
Top 10 Most Expensive Neighborhoods in the U.S.
- Gables Estates, Coral Gables, FL
- Port Royal, Naples, FL
- Old Cutler Bay, Coral Gables, FL
- Beverly Hills Gateway, Beverly Hills, CA
- The Flats, Beverly Hills, CA
- Shady Canyon, Irvine, CA
- San Marino Island, Miami Beach, FL
- Bear’s Club, Jupiter, FL
- Palm Island, Miami Beach, FL
- Rivo Alto Island, Miami Beach, FL
At the other end of the spectrum, Zillow ranks Bullard Hill in Jackson, Mississippi, as the least expensive neighborhood, with an average home value of just $24,026.
Other low-cost areas include neighborhoods in Shreveport, Louisiana; Flint, Michigan; and additional communities in Jackson.
