The 10 Most Expensive Cities to Live in Florida

The Sunshine State is known for its beautiful beaches, warm weather, and diverse population. However, living in Florida comes with a price tag, and not all cities are created equal.

In this post, we’ll take a closer look at the five most expensive cities to live in Florida and break down why they may not be the most budget-friendly options. From housing to healthcare, we’ll cover the major factors that make these cities more costly to live in than others.

We understand that moving can be stressful, especially when you’re not sure where to start. That’s why we’re here to help you gather the information you need to make an informed decision.

Whether you’re planning to move for work, family, or just a change of scenery, we want to make sure you’re prepared for what’s ahead.

So, if you’re curious about the cost of living in Florida’s most expensive cities, read on. We’ve done the research so you can focus on making the right choice for you and your family.

Most Expensive Places to Live in Florida

1. Palm Beach

Palm Beach is known for its luxury lifestyle and high-end resorts. Many famous people and wealthy individuals own homes in this beautiful area. The cost of living is high, but the quality of life and amenities make it worth it.

Palm Beach has many upscale shops, restaurants, art galleries, museums, and theaters. It’s also a popular destination for golfers and boaters. According to Zillow, the average home price in Palm Beach is over $1.8 million, which is quite expensive compared to other cities.

One reason for this high cost is the city’s location on a barrier island, making land scarce and valuable. The perfect climate for year-round recreation also drives up demand and prices for both real estate and rentals.

High taxes in Palm Beach add to the overall cost of living, making it one of the most expensive places to live in Florida.

2. Bal Harbour

Bal Harbour, a luxurious city in Miami-Dade County, is famous for its upscale hotels, boutiques, and restaurants. Living here can be quite expensive, with the cost of living being 114% higher than the national average.

Some of Florida’s priciest real estate can be found in this city. The median household income in Bal Harbour is $77,005, and the median home value stands at a staggering $2.9M according to Realtor.

Renting a one-bedroom apartment can set you back an average of $2,895 per month. The city’s prime location in one of the most expensive counties in the country contributes to its high living costs.

Bal Harbour’s exclusivity, luxury resorts, and top-notch amenities make it a desirable place to live, attracting wealthy residents and driving up prices. The city also boasts a low crime rate, making it an attractive place for those who can afford it.

3. Pinecrest

Pinecrest, a village in Miami-Dade County, is among the wealthiest places in the state. This village is located in the southern part of the county, near Coral Gables and Miami.

With a population of about 19,183 people, Pinecrest attracts many executives, professionals, and business owners. The median household income is over $164,419, while the median home value exceeds $1.6 million according to Zillow. Pinecrest is admired for its luxury homes and upscale lifestyle.

One of the factors that make Pinecrest so expensive and desirable is its excellent public schools. Niche ranks Pinecrest as the number one school district in Miami-Dade County, making it a top choice for families with school-age children who are willing to pay a premium for high-quality education.

Another reason for Pinecrest’s appeal is its safety. The village has its own police department that works hard to maintain low crime rates, while strict code enforcement ensures homes and businesses adhere to high standards, contributing to a safe and comfortable living environment.

4. Key Biscayne

Key Biscayne, an island off the coast of Miami, offers white-sand beaches, luxury hotels, and world-class golf courses, making it one of Florida’s most expensive places to live.

With an average home price of over $1.4 million and a median income of over $166,667, Key Biscayne attracts some of the wealthiest people in the state. Limited land availability, with just four square miles of land area, creates high demand and competition for scarce resources, driving up property prices.

The location of Key Biscayne adds to its expense, as it offers breathtaking views of the ocean, beautiful beaches, and easy access to both Miami and Fort Lauderdale. High property taxes in the area also contribute to the increased cost of living.

5. Surfside

Surfside, a town on Florida’s Atlantic Coast, is famous for its stunning beaches and luxurious lifestyle. It is among the most expensive cities in Florida, with a median home price of over $1 million.

Many celebrities and wealthy individuals reside in this popular tourist destination, which is located just north of Miami Beach, making it one of Florida’s most exclusive communities.

Several factors contribute to Surfside’s high cost of living. First, its location in Florida, one of the country’s most popular states, means higher demand for housing than in other regions.

Second, the town’s small size and limited land for new construction lead to a lack of supply, driving prices even higher. Finally, Surfside’s beautiful beaches and year-round warm weather make it a highly desirable place to live, further increasing demand and raising the cost of living.

6. Key Largo

Key Largo, famous for its crystal-clear waters and luxury resorts, is a popular tourist destination in Florida. The high demand for housing in this beautiful area leads to a high cost of living.

The average cost of a home in Key Largo is $1.2 million, making it one of the pricier places to live in Florida. The cost of goods and services is also high due to the increased demand from residents and tourists.

Many wealthy residents call Key Largo home, and the city has an exclusive reputation. Affordable housing options are limited, making it challenging for families with lower incomes to live here.

The public schools in Key Largo are among the best in the state but are also among the most expensive. Private schools are available for families who can afford them, but they are not as widely accessible as public schools.

Key Largo’s exclusivity, proximity to the Florida Keys Reef, and appeal to boaters and fishermen make it an expensive yet desirable place to live.

7. Southwest Ranches

Southwest Ranches, one of Florida’s most expensive cities, has a median home price of $1.2 million. This city is known for its luxury homes and equestrian properties, attracting many celebrities and wealthy individuals.

Southwest Ranches was initially developed as a planned equestrian community and is home to several horse farms and ranches. The Everglades Equestrian Preserve, a protected area for horses, is also located within the city limits.

The town’s location is one reason for its high cost of living. Southwest Ranches is situated on nearly 5,000 acres of land, making it one of the largest towns in Broward County.

Its proximity to golf courses and equestrian trails adds to its appeal, attracting affluent residents. The town’s schools are among the best in the county, further contributing to its desirability.

Southwest Ranches offers a unique blend of luxury living and equestrian culture, making it an expensive yet highly sought-after place to live for those who can afford it.

8. Highland Beach

Highland Beach, an affluent town in Palm Beach County, Florida, is renowned for its luxury homes and high cost of living. Often cited as the most expensive place to live in Florida, the average home price in Highland Beach is over $1.1 million.

The cost of living here is about 45.8% higher than in the rest of the state. This town also houses some of Florida’s most exclusive private clubs and resorts.

Highland Beach’s beautiful white-sand beaches, turquoise waters, and lush tropical landscape contribute to the high cost of living. The town offers upscale shops and restaurants, top-rated schools, and excellent hospitals, making it more than just a scenic place to live.

With a low crime rate and close proximity to major metropolitan areas like Miami and Fort Lauderdale, Highland Beach combines luxury, safety, and convenience for its residents.

9. Sunny Isles Beach

Sunny Isles Beach, located between North Miami Beach and Bal Harbour, showcases Florida’s opulent lifestyle. The area features some of the state’s most expensive real estate, with waterfront properties starting at around $5 million.

Living in Sunny Isles Beach is significantly more expensive than in other Florida cities, with the average rent for a one-bedroom apartment being over $2,000 per month. The median home price here is also high, at over $594,000.

The unbeatable location of Sunny Isles Beach contributes to its high cost of living. Beachfront properties offer stunning views of the Atlantic Ocean, and the area is a short drive from both Miami and Fort Lauderdale. Residents enjoy some of the best shopping and dining in the state, making it an attractive place to live.

Even for those who can’t afford to buy property in Sunny Isles Beach, this luxurious coastal city is worth visiting. The beautiful beaches, upscale amenities, and exclusive atmosphere make it a prime example of Florida’s high-end living.

10. Miami Beach

Miami Beach stands out as the most expensive place in Florida, offering a unique blend of luxury, entertainment, and beautiful scenery. The average price for a home in Miami Beach is over $450,000, while the median household income is $57,211.

As a popular tourist destination, Miami Beach is also a fantastic place to live, with warm and sunny weather all year round. The city is home to many high-end shops, restaurants, art galleries, and museums, attracting both tourists and residents seeking an upscale lifestyle.

Miami Beach’s location on a barrier island means that land is limited for development, increasing demand for housing and driving up prices. The city’s thriving hospitality industry also contributes to the high cost of living.