With endless miles of beach shoreline, sunny weather all year round, and a lower cost of living, there is no denying why people from more expensive states like California and New York are relocating to Florida. Florida has long been one of the most popular destinations for tourists. Living in Florida allows high net worth individuals to save money because they have no state income tax and they also do not tax retirement income. One of the many reasons Florida is a popular retirement spot.
With a tropical climate all year round, Florida is the perfect place for residents to bask in the sunshine and enjoy a vast array of outdoor activities. You will be surrounded by beautiful beach sceneries and a surprising number of affordable properties compared to other beach destinations.
Big cities like Miami, Tampa, and Orlando have a plethora of recreational activities and offer the best dining and social scenes. On the other hand, families also thrive in Florida because of the higher education quality that schools provide and it is an overall great place to raise kids.
From amusement parks to sporting event venues, you will find something for everybody in Florida. The varying landscapes from the Everglades to scenic beaches will take your breath away. There is no place quite like Florida.
How is median household income calculated?
According to census.gov, the median household income is calculated by including all income of the householder and all individuals who are 15 years and older who are living in the household regardless of whether they are related to the main householder or not.
The median divides the income distribution into two equal parts. The top half is the cases above the median while the bottom half are cases below the median. In terms of families and households, the median income is the distribution of the total number of households and families including those who have no income.
What is the richest county in Florida?
The richest county in Florida is St. Johns County with the highest median household income of $83,000 in the entire state. Located in the northeastern part of Florida, St. Johns County has a population of 273,000 people. It is part of the Jacksonville metropolitan area and was established in 1821.
This county is primarily made up of residential bedroom communities for people who work in Jacksonville. The county is named after the St. Johns River which runs along the western border. The main industry in the county is tourism because of the numerous golf courses.
What is the richest zip code in Florida?
The richest zip code in Florida is 33109 which belongs to Miami Beach. In 2018, Bloomberg Wealth reported that the average income of people who live in this zip code is $2.2 Million. The median household income of this zip code is $228,000.
What are the 15 richest cities in Florida?
15. Neptune Beach, Florida
Median Household Income: $95,000
Neptune Beach is a quiet coastal community that is nestled between Atlantic Beach and Jacksonville Beach. It has a comfortable and casual atmosphere that is very inviting for both residents and visitors of all ages. The sand that you will find on Neptune Beach is great for cycling and the waves are very ideal for surfing.
Neptune Beach was originally part of Jacksonville Beach and was named after a train station that Dan G. Wheeler built on his property. In more than one instance, he had to walk all the way home to Atlantic Beach through the Florida East Coast Railway. His friend who works at the train station told him that if built a train station on his property, the train would stop there. He decided to name this train station stop “Neptune” so the name Neptune Beach was created.
14. Jacksonville Beach, Florida
Median Household Income: $96,000
Another coastal town that made it to the richest cities of Florida list is Jacksonville Beach. Incorporated in 1907 as Pablo Beach, the town name was changed to Jacksonville Beach in 1925. Located in Duval County, this town is one of the best places to live in Florida and residents can enjoy an urban-suburban mix.
With mild winters and sunshine all year round, residents can enjoy outdoor activities in this beach community that has walkable neighborhoods. The town’s population of 23,000 people is surrounded by a hard-packed sandy beach and a family-friendly atmosphere.
13. Coral Gables, Florida
Median Household Income: $103,000
With a median household income of $103,000, Coral Gables is a great place to raise a family which is why a lot of younger families relocate here. Mostly made up of residential neighborhoods, this city has the lowest crime rate in Miami-Dade County.
Coral Gables is known as the home to the University of Miami which is the nation’s top private research university. This university is massive and covers 240 acres in size. It is also the third-largest employer in the county. What sets Coral Gable apart is that it is a Mediterranean-themed planned community. It is known for its historic and affluent character that is brought about by strict zoning rules.
12. Longboat Key, Florida
Median Household Income: $108,000
Longboat Key is located on the shimmering Gulf of Mexico where residents and visitors can enjoy the sandy beach and palm trees that exude a tropical escape. It is located alongside Sarasota and Manatee counties and has 14 miles of crystal-clear beaches and vegetation. But the amenities do not end there, you can also enjoy high-scale shopping and world-class dining options.
The first road on the island was created by circus magnate John Ringling in 1925. Most of the homes in this area are either single-family residences or condominium apartments and are enclosed in resort-style compounds with golf courses and beach access.
11. Naples, Florida
Median Household Income: $118,000
Naples is well-known in the whole state as a home of millionaires and is ranked sixth in the nation when it comes to having a higher per capita income. Besides being one of the wealthiest cities in Florida, it is situated next to the Gulf of Mexico. It is known for high-end shopping, golf courses, and white-sand beaches with beautiful views.
Residents who live in Naples enjoy a low crime rate, and it is one of the safest cities in Florida. The quality of education in Naples is higher than in most cities in Florida. You will be spoiled with the different beaches in the area which include Clam Pass Park, The Beach at Naples Pier, and Barefoot Beach Preserve.
10. Palmetto Bay, Florida
Median Household Income: $123,000
Palmetto Bay is known as a vibrant community with more than 24,000 people residing in the small town. The residents of this area enjoy the beautiful landscapes and a family-oriented atmosphere. These are all the reasons why Palmetto Bay consistently makes the list of best places to live in Florida.
9. Miami Shores, Florida
Median Household Income: $125,000
Officially incorporated in 1932, Miami Shores is a bedroom community for those who are working in Miami and is known for having a sizable retirement population. This area is mostly made up of single-family residences as well as a few multi-unit properties.
8. Southwest Ranches
Median Household Income: $133,000
Located in Broward County, Southwest Ranches is a suburban community that is part of the Miami metropolitan area and is 15 miles close to the Everglades. With its proximity to the Fort Lauderdale area and Miami, there are a lot of people looking to move into this area because of its desirable location. Southwest Ranches is ultra-exclusive and is one of the wealthiest towns in the state.
Southwest Ranches is known as an equestrian estate and because of this, the town has developed numerous equestrian trails. These equestrian trails are also multi-use so people can use them biking or walking throughout town.
7. Parkland
Median Household Income: $159,000
Parkland is considered one of the wealthiest cities in Florida and is part of Broward County. One of the main characteristics of Parkland is that it is known for its zoning laws which are designed to keep the park-like aesthetic of the city.
Parkland is known for having excellent schools and even their public schools are top-rated. This makes Parkland a great landing spot for families who have school-aged children. It is easily accessible from highways and you can easily get to Fort Lauderdale or Miami from either side of the freeway.
6. Pinecrest
Median Household Income: $164,000
Pinecrest is one of the richest cities in Florida and affords its customers a suburban living atmosphere. Pinecrest is considered one of the affluent communities in the Sunshine State and is very family-friendly. You will see sizable estates that are designed with a variety of architectural styles including neo-colonial and Mediterranean. You will be surrounded by tree-lined streets and have your quaint tropical paradise.
Even if you live in a suburban town like Pinecrest, you are close enough to go to Coral Gables and Miami which are both 30-minute drives. This enables residents to have access to world-class amenities and still have a quieter community to go home to.
5. Key Biscayne
Median Household Income: $166,000
Key Biscayne is a town that is located on a barrier island across the Rickenbacker causeway in Miami. This town is flanked by two different parks, Crandon Park and Florida State Park. When you are in Key Biscayne, you will be surrounded by beaches, mangroves, and a tropical forest.
One of the most unique attractions that you can find in this sliver of an area is the coastal barrier reef which is the only federally recognized underwater archeological trail in the whole nation.
4. Palm Beach
Median Household Income: $169,000
Located in South Florida, Palm Beach is separated from the mainland by Lake Worth Lagoon. Known for being home to glitzy estates and beaches, residents enjoy going to the Palm Beach Municipal Beach. The main street is called Worth Avenue and is lined with upscale boutiques, restaurants, and galleries.
Palm Beach is regarded as a traveler’s playground, where people can enjoy water activities like boating, snorkeling, and paddling. Golfers will also have the time of their life in this town with the presence of legendary golf resorts like the PGA National Resort and Spa.
3. Golden Beach
Median Household Income: $193,000
With a median household income of $193,000, Golden Beach is constantly on the richest city list in Florida. Located in the northeast section of Miami-Dade County, Golden Beach occupies the mile-long stretch of Collins Avenue which is bounded by the Atlantic Ocean and the Intercoastal Waterway.
Lined with a lot of residential single-family homes, there is a strict ordinance that prohibits commercial and high-rise developments. Loggia Beach Park is the town’s jewel and it is situated in a historic oceanfront pavilion that has been tastefully restored. It is a favorite venue for parties and events.
2. Manalapan
Median Household Income: $201,000
Manalapan is an ultra-luxury and secluded coastal town that is part of Palm Beach County. You will find this town halfway through Delray Beach and Palm Beach. With a population of just 400 people, it is a low-density town that houses the most expensive real estate in the whole world.
The wealthy residents of Manalapan can enjoy a tranquil and private atmosphere. Even if it is in a secluded area, the residents can go into Downtown Miami fairly quickly to enjoy world-class amenities such as high-end dining and shopping options.
1. Fisher Island
Median Household Income: $227,000
Rounding up the list of richest cities in Florida is Fisher Island, which is one of the most luxurious stretches of real estate in all of the country. Some of the wealthiest people in the United States live on this prestigious island filled with exclusive neighborhoods. If you are fortunate enough to live in this area, you will undoubtedly rub shoulders with famous residents and the richest people in Florida.
Conveniently located in Biscayne Bay, Fisher Island was named after Carl Fisher who is the founder of Miami Beach. With only about 700 families living on the island, ferry travel is essential because it is the only way to get in and out of the island.
