This Coastal Town Was Just Named the Wealthiest Suburb in Florida

They say you’re the company you keep. And if you’re hoping to feel very, very rich by proxy of those around you, then it’s time to head to one coastal city in Florida. 

In late July, GOBankingRates released its list of the wealthiest suburbs in Florida. It determined the list by reviewing all of Florida’s cities with 5,000 households or more and then isolating the 20 suburbs with the highest average household incomes. (It noted that it sourced additional factors, including each suburb’s metro area and 2025 typical home value for a full picture.) 

According to the findings, wealth is really concentrated in the state, with Miami, Fort Lauderdale, and Pompano Beach being home to 50 percent of Florida’s wealthiest suburbs. 

As for the destination with the highest average household income, that will come as very little surprise: Palm Beach. GOBankingRates shared, the suburb has an average household income of $356,467, while the typical home value is a whopping $10,211,635.

According to a 2024 wealth tracking analysis by Henley & Partners, Palm Beach County, which includes both Palm Beach and West Palm Beach, experienced a 112 percent increase in millionaires between 2014 and 2024, putting it as the No. 4 fastest-growing city for global wealth in the organization’s Wealthiest Cities Report 2025. The analysis also found that West Palm Beach and Palm Beach together are home to 11,500 millionaires, 78 centimillionaires, and 10 billionaires.

“When the pandemic hit, (West Palm Beach) was this really unique place that was essentially a blank canvas,” Rob Frisbie, a managing partner of Frisbie Group, shared at a Palm Beach Chamber of Commerce forum in March 2024. “It was this sponge that was so ready to absorb this growth, and that’s one of the driving factors that sets it apart from these other growth centers around the country.”

Joining Palm Beach at the top of the ranking is Pinecrest, which also has an impressive average household income of $312,591 but with a relatively more affordable typical home value of $2,406,476.

Things significantly drop off from here, with Lake Butler at No. 3, with an average household income of $289,593 and a typical home value of $748,699. Parkland comes in at No. 4 with an average household income of  $229,861, but with a slightly higher typical home value of $1,099,595. Coral Gables rounds out the top five with an average household income of $209,687, but again with a higher typical home value at $1,983,472.

See the full list of where Florida’s wealth is centered at ​​gobankingrates.com.