Millionaire cities around the world are on the rise including in Miami. The new 2024 report boasts 550 “Million Dollar” cities across the United States up from 491 the year before. Of those, 32 are in Florida, 17 are in South Florida, and eight are in Miami. To make the list, the average value of the house must be at least $1 million.
The report comes as no surprise as property values continue to climb. Property values in Miami-
Dade County rose an estimated 10% from 2023 marking the third consecutive year of growth. Equally impressive, the values of properties continue to grow in all 34 municipalities, which are still seeing home values increase.
Miami’s Millionaire Cities
Eight cities in Miami made the “Million Dollar” list this year, including one new addition.
Bal Harbour
Bal Harbour Village is a serene waterfront haven offering a sophisticated, walkable lifestyle with designer boutiques and Michelin-starred restaurants just steps from its famed beaches. Here, luxury condos reign supreme, with sprawling units offering unparalleled water vistas and world-class amenities. The municipality also offers an array of opulent single-family homes.
Coral Gables
One of the oldest cities in Miami, Coral Gables is known for its charming Mediterranean architecture and sprawling estates nestled beneath ancient banyan trees. Luxury here is synonymous with privacy and space. Revered for its walkability to areas like the legendary Miracle Mile, residents enjoy sprawling single-family homes and spacious condominiums.
Fisher Island
A private island accessible only by ferry or private boat, Fisher Island is an ultra-exclusive community with residents from more than 40 different countries. The island’s amenities include tennis courts, a beach club, a golf course, a spa/fitness center, a marina that can accommodate yachts over 250 feet long, and world-class restaurants and lounges. From private estates to expansive condominiums, residents have access to a variety of luxury property options.
Golden Beach
Sitting at the northern tip of Miami, the Town of Golden Beach is a 1.8 square-mile ocean-front community. Ultra-low density and sprawling beachfront estates define one of Miami’s oldest cities. Here, luxury takes the form of custom-built mansions designed to maximize ocean views and create private resort-style living experiences.
Key Biscayne
Residents of Key Biscayne enjoy a unique island experience minutes from Downtown Miami. Once you cross the famous Rickenbacker Causeway, you’re immediately transported into an oasis of beaches, nature preserves, opulent amenities, and an abundance of luxury residential options including oceanfront penthouses and waterfront single-family homes.
Palmetto Bay
A new addition to the list of millionaire cities in Miami, the Village of Palmetto Bay has been rising in popularity in recent years. With tree-lined streets, lakes, and canals, Palmetto Bay is a charming municipality with an array of property options beloved by locals for its community charm.
Pinecrest
Just north of Palmetto Bay is one of Miami’s most sought-after municipalities. The Village of Pinecrest is home to executives and celebrities including local sports stars. Known for its expansive private properties and lavish homes, Pinecrest is a quiet community where you can enjoy the luxuries of Miami in an elegant suburban neighborhood.
Surfside
The Town of Surfside has been known for its wealthy residents since its incorporation in 1935. At the time, famous guests including Frank Sinatra, Elizabeth Taylor, Ava Gardner, Winston Churchill, and Dean Marti, frequented The Surf Club. Today, the famous building is the Four Seasons Hotel at The Surf Club known for its elegant oceanfront accommodations. Both historic and new-construction homes as well as stunning condominium towers can be found in this upscale charming beach town.
Top Homes For Sale in Miami’s Millionaire Cities
Homes in these cities offer an array of amenities and are suitable for each individual’s unique lifestyle. Whether you’re searching for a sprawling single-family home or an estate that offers the ultimate private setting, or a waterfront condominium with incredible building amenities and spacious outdoor space, there are a variety of options.
With over 30 years of experience in providing a personalized and professional approach to real estate in Miami, Mauricio J. Barba has earned top accolades and a top-notch reputation. He primarily serves buyers and sellers in such premier neighborhoods as the Village of Pinecrest, the Village of Palmetto Bay/Falls area, South Miami, Coconut Grove, Coral Gables, Key Biscayne, and the Beaches.
As a renowned distinguished luxury real estate advisor, Mauricio works alongside his team to provide a first-class real estate experience through a strong personal and professional connection with each client. While the team’s assistants are readily available to serve you, Mauricio and his team are personally available to promptly return important calls or emails 24/7, 365 days a year.
When you work with Mauricio, you’ll also gain access to his extensive network of contacts to help you find a buyer or find a luxury property even in neighborhoods where homes never go on the market.
If you’re passionate about white glove treatment throughout one of the most important financial experiences of your life, please contact us at 305-439-8311. We look forward to collaborating with you.
