The 12 Wealthiest Cities in Florida Based on Median Income

Pinecrest is the wealthiest city in Florida, with a median household income of $156,875. Other top cities in the state include Parkland with a median household income of $154,844, Key Biscayne with a median household income of $151,310, Palmetto Bay with a median household income of $123,477, and Southwest Ranches with a median household income of $124,591.

The Sunshine State is one of the most popular destinations for vacation, and it’s easy to see why. Florida offers something for everyone, including plenty of sunshine, warm temperatures, and gorgeous beaches.

Florida has some of the richest cities in the United States. That’s not just because of the wealthy retirees who live there — it’s because Florida is home to many booming industries.

Among them are manufacturing, aviation, software development, and tourism, which altogether contribute billions to the state’s economy each year.

Florida has many highly-ranked colleges and universities, including the University of Miami and Florida International University.

This helps fuel a thriving tech industry, which provides 21st-century jobs across the state. It also helps that Florida doesn’t have a personal income tax, which makes it attractive to both businesses and individuals.

Richest Cities in Florida

Here are the five richest cities in Florida, according to 2019 U.S. Census data.

1. Pinecrest

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Pinecrest is one of the richest cities in Florida with a population of 19,244 (2019). Pinecrest is in Miami-Dade County. With a median household income of almost $156,875, Pinecrest is the city with the highest median income in the state.

Living in Pinecrest offers residents a suburban feel and most residents own their homes. In Pinecrest, there are a lot of restaurants and parks. Many young professionals live in Pinecrest and residents tend to be liberal. The public schools in Pinecrest are highly rated.

Many celebrities and athletes live here, including pop singer Enrique Iglesias and tennis pro Venus Williams.

Despite its small size, the city has many municipal services, such as its police department and fire department.

2. Parkland

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Parkland is one of the richest cities in Florida with a median household income of $154,844 and a median home price of $885,738. The affluent suburb has plenty of shopping and dining options as well as a top-rated school district.

Parkland is also known for its parks and wildlife preserves, including Pine Trails Park which hosts citywide events like concerts and festivals. Living in Parkland offers residents a suburban feel and most residents own their homes.

Many retirees live in Parkland and residents tend to have moderate political views. Residents are within driving distance of the beach, city life in Miami, or nature adventures like hiking and kayaking.

3. Key Biscayne

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Key Biscayne is one of the richest cities in Florida with an average income of $151,310 per household. Key Biscayne is a suburb of Miami and has a population of 12,915.

Key Biscayne is in Miami-Dade County and is one of the best places to live in Florida. Living in Key Biscayne offers residents a dense suburban feel and most residents own their homes.

In Key Biscayne, there are a lot of restaurants, coffee shops, and parks. Many retirees live in Key Biscayne and residents tend to lean conservative.

The public schools in Key Biscayne are highly rated. The island has a reputation for its relaxing atmosphere, beautiful beaches, and crystal-clear waters.

It has been host to several international sports events including professional tennis tournaments and professional racing events.

4. Palmetto Bay

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Palmetto Bay is one of the wealthiest cities in Florida with a population of almost 24,333 (2019) and a median household income of $123,477.

It is located in Miami-Dade County halfway between downtown Miami and the Florida Keys.

The area is known as a village with a very small-town feel but is also conveniently located to many areas of interest including downtown Miami, South Beach, Coconut Grove, Key Biscayne, Coral Gables, and Miami International Airport.

The city is also one of the most expensive places to live in Miami-Dade County due to its large size and relatively low population density for a suburban city.

5. Southwest Ranches

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Southwest Ranches is one of the wealthiest cities in Florida with a median income of around $124,591. The town’s residents are mostly white-collar employees working in management occupations, finance, and sales.

It includes the neighborhood of Sunshine Ranches, which is home to many horses and equestrian trails. Southwest Ranches also has a large number of farms, ranches, and other agricultural acreage, which provide local jobs to around 50 people.

The town’s real estate market is highly competitive. Homes in Southwest Ranches receive 2 offers on average and sell in around 70 days. The per capita income in Southwest Ranches in 2019 was $57,643, which is wealthy relative to Florida and the nation.

6. Miami Shores

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Miami Shores is one of the wealthiest cities in Florida with a median household income of $123,478. The village is also home to Barry University. The City has been incorporated for more than 75 years.

With a population of 10,459 people, it is one of the richest suburbs in Miami-Dade County. The Miami Shores area is known for its Bayfront location, beautiful tree-lined streets, and well-maintained 1920s architecture.

It is also known for its low crime rate. A large percentage of the homes in Miami Shores are waterfront properties on Biscayne Bay. There are also many inland homes as well, which many times have guest houses or “mother-in-law suites” that provide extra space and rental income.

There are many great dining options in the Miami Shores area, including some old Cuban-style restaurants that serve great food at affordable prices.

The downtown area is also full of great shops like “Everything But Water” which sells unique styles of swimwear from all over the world. There are many mom-and-pop stores as well as national chains like CVS and Walgreens for everyday needs.

7. Naples

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Naples is one of the wealthiest cities in Florida with an average annual income exceeding $107,013 per household. It is also a very popular vacation destination for thousands of people every year.

The gulf breeze and the sunny weather are just a few of the reasons why Naples is such a popular destination. Many people who visit Naples decide to buy homes there because it is such a wonderful place to live and raise a family.

Naples has many amazing golf courses that make it an ideal place for retirees to live. A nice round of golf can be enjoyed by just about anybody who lives in the area.

The pristine beaches and the peaceful atmosphere add to the charm of living in Naples, Florida. There are many beautiful homes located on large pieces of property with plenty of space for a family to enjoy all that this great city has to offer.

8. Coral Gables

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Coral Gables is one of the wealthiest cities in Florida with an average household income of $100,843. It’s a city full of character and charm with tree-lined streets and beautiful Mediterranean-inspired architecture.

Its also home to some of Miami’s best restaurants and bars, as well as the University of Miami, Fairchild Tropical Botanic Garden, Miracle Mile shopping district, and The Biltmore Hotel.

With its high median income, Coral Gables is the perfect place to live if you’re making a great living or have a good job and want to be surrounded by other people like you.

9. Marco Island

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Marco Island is one of the wealthiest cities in Florida with an average household income of $86,215. The city’s per capita income is $68,583, earning it a spot as the ninth richest community in Florida.

Marco Island is also the largest of “Florida’s Ten Thousand Islands” and is almost entirely built upon. But that doesn’t mean there isn’t room to enjoy the outdoors. It’s a great place to take advantage of all that Florida has to offer.

The island has several family-friendly attractions including The Marco Island Historical Museum, which takes visitors back in time through the history of Southwest Florida.

There are also numerous beaches for playing, swimming, and relaxing under the sun. It’s also a great place to soak up some rays on dry land via biking, boating, or taking a sightseeing cruise along the coast.

In addition to sun and sand, Marco Island offers plenty of shopping and dining options for residents and tourists alike.

This includes The Esplanade, which is an open-air lifestyle center featuring more than 50 shops plus restaurants and entertainment options like live music and dancing on select days of the week.

Neighborhoods near this destination also feature several local stores and restaurants, many specializing in fresh seafood dishes including oysters, shrimp

10. Key West

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Key West is one of the wealthiest cities in Florida with a median household income nearly twice the state average. You won’t find many retail discounts or cheap hotels here, but if you’re willing to spend a few extra dollars, you’ll be rewarded with an unforgettable experience.

Fly into Miami International Airport and then hop on a puddle jumper to Key West International Airport or drive down the Overseas Highway (U.S. Route 1) from Miami which goes over bridges that span the sea.

The drive takes about three and a half hours, but the scenery is spectacular. The city has become very popular with cruise ship passengers who stream through Duval Street all day long during the season (and shorter days in summer).

Parking can be difficult to find and there are plenty of traffic jams clogging up the narrow streets between Old Town and Mallory Square where cruise ships dock.

11. Surfside

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Surfside is one of the wealthiest cities in Florida with a median household income of about $110,000. The town is home to many notable people like former Miami Beach Mayor Philip Levine, former Miami Dolphins coach Don Shula, and actor Joe DiMaggio.

It’s also home to the Bal Harbor Shops, a luxury mall featuring stores like Chanel and Prada, which gets millions of visitors a year.

In addition to an upscale retail experience, Surfside also has a beachfront community center that offers programs for kids and adults alike.

But it’s not all millionaires and billionaires who live there — in fact, most Surfside residents are middle class. The median household income in Surfside is about $69,063 per year.

12. Key Largo

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The Keys are an oasis of tropical beauty and sunny skies, and Key Largo is the first stop on your journey. Travelers come from around the world to experience this island paradise.

Key Largo is one of the wealthiest cities in Florida with many residents earning $100,000+ per year. So what is it about this island that draws so much attention?

Key Largo has a unique island vibe combined with a strong sense of community pride. Many residents have been living in Key Largo for decades and are invested in their community.

The island offers many activities such as diving, snorkeling, kayaking, fishing, boating, and more. There’s always something to do whether it’s relaxing by the pool or hitting up one of our many bars and restaurants which offer live music every weekend!

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