Welcome to the land of the 1%. Where you’ll find lawyers, and doctors, and business executives. And while they 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 3.03x 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 wealthiest neighborhoods in Miami out of 14 for 2024.
The Richest Neighborhoods In Miami For 2024
What’s the richest neighborhood to live in Miami for 2024? 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 $716,053. 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.
Find where your neighborhood ranks amongst the richest in Miami.
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.
Table Of Contents: Table | Methodology
Richst Neighborhoods In Miami For 2024 By Median Income
| Rank | Neighborhood | Median Household Income |
|---|---|---|
| 1 | Islands | $163,112 |
| 2 | North Coconut Grove | $99,136 |
| 3 | Downtown | $88,620 |
| 4 | South Coconut Grove | $83,666 |
| 5 | Coral Way | $64,787 |
| 6 | Wynwood | $53,417 |
| 7 | Upper Eastside | $52,071 |
| 8 | Flagami | $43,130 |
| 9 | Little Haiti | $36,525 |
| 10 | Little Havana | $31,589 |
| 11 | West Flagler | $31,236 |
| 12 | Overtown | $30,979 |
| 13 | Allapattah | $30,292 |
| 14 | Model City | $24,443 |
How We Determined The Wealthiest Neighborhoods In Miami For 2024
Every city has its 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 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 Saturday Night Science, we researched income data from the Census and BLS for every neighborhood in Miami.
We ranked every neighborhood in Miami by median income from highest to lowest. The neighborhood with the highest median income, Islands, was named the wealthiest neighborhood in Miami.
The richest neighborhoods in Miami are Islands, North Coconut Grove, Downtown, South Coconut Grove, Coral Way, Wynwood, Upper Eastside, Flagami, Little Haiti, and Little Havana.
The poorest neighborhood? That would be Model City.
The poorest neighborhoods in Miami are Model City, Allapattah, Overtown, West Flagler, and Little Havana.
We updated this article for 2024. This is our tenth time ranking the most affluent neighborhoods to live in Miami.
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