The 10 Richest Neighborhoods In Miami, FL For 2021


We used science and data to determine which Miami neighborhoods have the richest people.

Editor’s Note: We updated this article for 2021. This is our seventh time ranking the richest neighborhoods to live in Miami.

Richest Neighborhoods In Miami

Welcome to the land of the 1%. Where you'll find lawyers, and doctors, and business executives. And while they probably aren't made of ticky tacky, they are definitely made of money.

These are the wealthiest neighborhoods that Miami has to offer. Where houses go for over 2.96x the national median and household incomes are 2.97x the national median.

But where exactly in Miami do the richest of the rich people live? That would be Islands where the median income is a cool $163,112.

Here's a look at the top 10 richest neighborhoods in Miami out of 14 for 2021.

The Richest Neighborhoods In Miami For 2021

  1. Islands (Homes)
  2. North Coconut Grove (Homes)
  3. South Coconut Grove (Homes)
  4. Downtown (Homes)
  5. Wynwood (Homes)

What's the richest neighborhood to live in Miami for 2021? According to the most recent census data, Islands looks to be the richest Miami neighborhood to live in.

Summing up the median income of those 10 neighborhoods adds up to $660,135. And that my friend, is more 0s than most of us will see in our bank account for a long, long time -- if we ever get that lucky. Continue on to find where your neighborhood ranks amongst the richest in Miami. Once you're done, you can look at the bottom of the story for a complete chart of every neighborhood we looked at from richest to poorest.

For more Miami reading, check out the best neighborhoods in Miami and the worst neighborhoods in Miami. Or, for living around Miami, out the best Miami suburbs and the worst Miami suburbs.

For more Florida reading, check out:

How We Determined The Wealthiest Neighborhoods In Miami For 2021

Every city has it's best neighborhoods -- where everyone wants to live -- and the worst neighborhoods -- where no one wants to live. And then you have the wealthiest neighborhoods, where no one can afford to live.

And by no one, we really mean you because there's always someone richer than you.

How do you quantify richer than you? We looked at one simple criterion:

Which neighborhoods have the highest median income?

Using census and extrapolated BLS data, we ranked every neighborhood based on income levels.

We ranked every neighborhood in Miami by median income from highest to lowest. The neighborhood with the highest median income, Islands, was named the richest neighborhood in Miami.

The poorest neighborhood? That would be Overtown.

Now a look at how all the neighborhoods in Miami ranked.

For more Florida reading, check out:

Detailed List Of The Richest Neighborhoods In Miami For 2021

Rank Neighborhood Median Household Income<
1 Islands $163,112
2 North Coconut Grove $99,136
3 South Coconut Grove $83,666
4 Downtown $71,374
5 Wynwood $53,417
6 Upper Eastside $51,180
7 Coral Way $49,574
8 West Flagler $31,236
9 Flagami $30,687
10 Little Haiti $26,753
11 Little Havana $24,491
12 Model City $24,443
13 Allapattah $23,663
14 Overtown $19,558

About Chris Kolmar

Chris Kolmar has been in the real estate business for almost ten years now. He originally worked for Movoto Real Estate as the director of marketing before founding HomeSnacks.

He believes the key to finding the right place to live comes down to looking at the data, reading about things to do, and, most importantly, checking it out yourself before you move.

If you've been looking for a place to live in the past several years, you've probably stumbled upon his writing already.

You can find out more about him on LinkedIn or his website.