Miami, Florida (Fort Lauderdale and West Palm Beach included) is a diverse land full of excitement. With world-class boating and a great nightlife, living in the area is worth considering - just make sure you send your children to private schools. In case you didn't know, the Florida public school system is one of the worst in the nation.
Since effectively calculating net worth is pretty much impossible without individually going house-to-house, the next best way to calculate wealth is by looking at income. In Miami, this may lead to a less-than-normally accurate calculation, because of the larger population of retired people. However, it still gives a good idea of the wealth of each suburb, at least when comparing one Miami suburb to other Miami suburbs. Per-capita income and not household income was used to rank the suburbs. There are no additional parameters, although for fun, I have listed the cities median household income and median home price. I delay no longer and give you the Top 10 Wealthiest Florida Suburbs of Miami.
Fisher Island, Florida
Median Household: $225,503
Median Home: $1,543,288
Coming in at number 1 on the list of the Top 10 Wealthiest Florida Suburbs of Miami is the affluent community of Fisher Island. With only 132 permanent residents, its high per-capita income can somewhat be explained. Located 3 miles off the shore of mainland South Florida and only accessible by private boat or ferry, Fisher Island is pretty much as private and exclusive as you could ask. Once a one-family island home of the infamous Vanderbilts, it now serves as the home to comedic genius Mel Brooks, among other people.
Median Household: $217,834
Median Home: $776,417
The second wealthiest Florida suburb of Miami is located in Palm Beach County. Manalapan is thought to be named after Manalapan Township, New Jersey; but I doubt too many Guidos can afford to live here. This affluent beach side community was incorporated by Harold Stirling Vanderbilt in 1931, and although the median home price here is only half that as Fisher Island, Manalapan is still worthy enough to be named the second wealthiest Florida suburb of Miami.
Median Household: $190,677
Median Home: $989,984
At the 2010 census, the Village of Golf in Palm Beach County ranked as the 4th highest-income place in the United States. With a total land area of less than 1 square mile, Golf operates more as a neighborhood than a suburb, however mayor Tom Lynch probably loves his gem of a city just the same. Golf is well-deserving of the title of third wealthiest Florida suburb of Miami.
Palm Beach, Florida
Median Household: $100,924
Median Home: $709,411
Nicknamed "The Island", the Intracoastal Waterway separates it from the neighboring cities of West Palm Beach and Lake Worth. Like all Miami suburban communities, population fluctuates with the season, and in the winter, the population of Palm Beach triples. This wealthy Miami community was first established as a resort by Henry Morrison Flagler, a founder of Standard Oil, who made the Atlantic coast barrier island accessible via his Florida East Coast Railway. In 2000, Palm Beach had the 40th highest percentage of Russian residents in the U.S., with 10.30% of the populace. Privet Palm Beach, privet!
Gulf Stream, Florida
Median Household: $176,521
Median Home: $776,417
The fifth wealthiest Florida suburb of Miami is another Palm Beach County community In 2000, Gulf Stream ranked as the 11th highest income place in the United States. With a very large median household income, this Miami suburb may be small, but the incomes definitely are not.
Oak Point, Florida
Median Household: $159,755
Median Home: $633,268
Oak Point is actually just a very wealthy neighborhood in Hollywood, Florida. It is often referred to as Arapahoe. Although Oak Point boasts an extremely large per-capita income, the surrounding city of Hollywood only boasts a per-capita income of a little more than $22,000 - and there are 145,000 Hollywood residents. This would stop me from purchasing a home here but it doesn't stop Oak Point from taking the sixth slot on our list of the Top 10 Wealthiest Florida Suburbs of Miami.
Indian Creek, Florida
Median Household: $122,236
Median Home: $707,861
With a tiny population of only 86, the village of Indian Creek is the smallest city on the list. Located in Miami-Dade County, it is also the wealthiest Florida suburb in the immediate area of the city of Miami. If there is some incentive to live here over the other cities on this list, it might be the fact that you have a more likely chance of running into international supermodel Adriana Lima, as she owns a home in Gulf Stream.
Boca Pointe, Florida
Median Household: $98,288
Median Home: $350,947
Though not officially in the City of Boca Raton, the community of Boca Pointe is frequently classified under its umbrella terms. Having lived in Boca Raton right after college, I can say that if you are young, this actually isn't that bad of a place to live. Most people ask me "Why would you ever live in Boca at your age?" My answer, because Florida Atlantic University is there and some of the most beautiful women you will ever see go there. Additionally, there is a valet at the Publix grocery store. If you want a wealthy Miami suburb, don't overlook this community because of what you've seen on Seinfeld.
Ocean Ridge, Florida
Median Household: $63,559
Median Home: $579,129
The wealthy Miami suburb of Ocean Ridge was originally founded in 1931 as the Town of Boynton Beach and as of 2000, it had the nineteenth highest percentage of Canadian residents in the U.S., with 1.70% of the population. I don't really know what it is about Canadians, but they love South Florida. Florida may love them too, but with no frozen ponds for kids to play hockey on, I have my doubts.
Sea Ranch Lakes, Florida
Median Household: $99,588
Median Home: $544,266
Coming in at the number 10 spot on the list of Top 10 Wealthiest Florida Suburbs of Miami is Sea Ranch Lakes. Located on Highway A1A, surrounded by Lauderdale-by-the-Sea, the majority of this Miami suburb is a walled-in residential community, with the remainder of the village being a public shopping plaza, and a private beach club for residents. This place is no Fisher Island, but I'd live in this wealthy city over the actual city of Miami any day.
South Florida is very compact, with a constantly fluctuating population. When it comes to wealthy Florida suburbs, there are several you may want to consider, and with relatively low property values, buying a vacation home in a Miami suburb is really not that unrealistic.
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