Florida contains 7 of America’s 10 priciest neighborhoods.
Florida’s population may be among the fastest-growing in the nation, but that doesn’t mean it’s an inexpensive state to live or rent in.
A recent survey by Neighborly’s house painting service, Five Star Painting, found that Florida is the most costly state in the country to purchase a home, according to a recent article by Lianna Norman of Naples Daily News.
The Zillow Home Value Index (ZHVI), which has home value information for over 21,000 neighborhoods, was utilized in the study to identify the priciest neighborhoods both nationally and in the 50 major U.S. cities.
Furthermore, seven of the ten most expensive communities in the country are located in Florida. These are the communities that prospective house buyers found to be the most costly in the nation.
Which US region has the priciest real estate?
“A complex combination of scarcity, demand, and location cachet drives real estate prices to astronomical figures in affluent zip codes across the U.S.,” the survey stated.
“Homes in upscale communities in states like California, Florida, and New York have not only maintained their value but have seen notable price increases in recent years, despite general market uncertainties.”
Four areas in the Miami metropolitan region, two in Naples, and one in Palm Beach County are among the seven neighborhoods in Florida that made the list.
First place on this rankings list goes to Gables Estates in Coral Gables, a suburb of Miami, where the average property value is around $17 million.
According to the report, “Gables Estates is a gorgeous gated community offering residents both privacy and panoramic water views.”
“World-class amenities like tennis courts, golf courses, and a private yacht club with membership application fees starting at $100,000 are also located in the neighborhood.”
Second place went to the Port Royal area of Naples. The average value of a home in Port Royal increased by 2.42% in the past year to $16.2 million.
The research states that “the real estate market in Naples, especially in Port Royal, has demonstrated resilience and growth, drawing buyers and investors from all over the world.”
Which American neighborhood is the priciest?
Based on Zillow data, Five Star Painting and Neighborly have compiled a list of the most costly communities in the US to buy a home in, along with an average home value for each community:
- Gables Estates in Coral Gables, Florida: $16,806,342
- Port Royal in Naples, Florida: $16,233,953
- Beverly Hills Gateway in Beverly Hills, California: $10,229,822
- Old Cutler Bay in Coral Gables, Florida: $9,301,986
- The Flats in Beverly Hills, California: $8,743,865
- Di Lido Island in Miami Beach, Florida: $8,537,501
- Aqualane Shore in Naples, Florida: $8,507,397
- Trousdale Estates in Beverly Hills, California: $8,500,015
- San Marino Island in Miami Beach, Florida: $8,496,184
- Bear’s Club in Jupiter, Florida: $8,385,889
This article originally appeared on Naples Daily News
