2 FL Suburbs Among 50 Wealthiest In America

Wealthy people seeking a lifestyle away from cities like New York, Los Angeles, Chicago and Miami are gentrifying suburbs, including two in South Florida.

Suburbs on the GOBankingRates ranking of America’s 50 Wealthiest Suburbs include:

Palm Beach, a suburb of Miami (No. 11)

• Average household income: $365,991
• Typical home value: $11,571,608
• A secret buyer just spent $250 million on four separate properties just north of President Donald Trump's Mar-a-Lago, according to Fox Business.

Pinecrest, a suburb of Miami (No. 20)

• Average household income: $304,416
• Typical home value: $2,243,489
• A newly built home in the village sold for a record $14.3 million in August, the Miami Herald reported.

GOBankingRates, a personal finance website, compared the household income of cities with 5,000 or more households and isolated the 50 with the highest average household income. The typical 2024 home value was also considered.

Among key findings:

• The wealthiest U.S. suburb is Scarsdale, New York, where the average household income is $568,942. The typical home value in Scarsdale is $1.4 million.
• California dominated the ranking, with 16 suburbs in the top 50. The five most expensive California suburbs are Los Altos ($400,000), Orinda ($370,000), Palos Verdes Estates ($342,000), Saratoga ($329,000) and Menlo Park ($316,000).
• The East Coast took the lead with 23 wealthy suburbs, including five in New York and five in New Jersey, making the top 50 ranking. In second place is the West Coast with 19 suburbs.

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