Back off, Beverly Hills—you might be a catchall for "wealthy people," but Miami has officially snatched the crown for the most expensive neighborhood in the country.
That's right, Rodeo Drive has nothing on Gables Estates, according to a new ranking based on Zillow's monthly home value data. And that's with only 179 lots!
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Hidden away in Coral Gables like a billionaire’s daydream, Gables Estates is less a neighborhood and more a gated fantasy for people who don't just want but need a waterfront and private docks. Located just off Biscayne Bay, the community boasts 24/7 security (because of course) and the kind of lush landscaping that it takes an army of employees to maintain in Miami's climate.
Zillow’s July 2025 home value index analyzed home values from the last 12 months, weighing sales transactions, tax assessments and public records, as well as square footage and location.
But if you have a couple of million lying around, don't get too excited just yet. There's more to living in Gables Estates than just wealth. It may be Florida, but this community maintains rigid standards when it comes to new neighbors. Anyone interested in becoming a denizen has to be approved for membership in the homeowners association, Gables Estates Club Inc. And before that, just to apply to maybe be considered requires a nonrefundable, $100,000 membership fee ($105,000 for non-American buyers), as well as a presentation to the association’s governing board.
You're still not done: To complete the application process, you'll also need two sponsors already voting members in the homeowners association, letters of recommendation, an accounting of your social or business club memberships and at least two banking references. All to live in a neighborhood that boasts an average age of 60.
Gables Estates isn't the only expensive neighborhood in Florida, either. Of the 10 priciest places to live on Zillow's list, a full seven are in the Sunshine State. (Speaking of sunshine, California claimed the remaining three slots.) Blame the lack of income state tax and the gorgeous winters for the influx of the very wealthy to Miami; if we could manage even one of those application requirements, we'd consider Gables Estates, too!