Fisher Island, the Small Island of Miami That Is Among the Five Most Expensive Neighborhoods in the United States

Fisher Island, the Small Island of Miami That Is Among the Five Most Expensive Neighborhoods in the United States

The South Florida area jumped in the past year from No. 23 to No. 5 on the list of the most expensive neighborhoods in the nation

Owning a home in one of the most expensive neighborhoods in the United States has an average cost of $ 4 million , according to a real estate report developed by Property Shark . As the cost of properties in general in the country increased, as expected, the value of luxury homes also soared. One of those that skyrocketed the most was Fisher Island, Miami’s exclusive neighborhood, which went from 23rd to 5th.

30 of the 100 most expensive ZIP codes in the country have an average price of $ 3 million for a home this year . This is a considerable increase. A year earlier, around 15 zip codes had those kinds of prices.

Atherton , a Northern California community located in the heart of Silicon Valley outside of Los Angeles, is the most expensive neighborhood in the entire country for five years in a row. The average cost of a home there is seven and a half million dollars . Around 7,000 people live there, 90 percent of whom identify as white.

But it is not the only expensive neighborhood in California . In fact, the western state of the country is where 70 percent of the most expensive residential neighborhoods are concentrated , with 37 percent of them concentrated in what is known as the Bay area, that is, the surroundings of San Francisco. However, the county with the highest number of high-cost neighborhoods is Los Angeles, in the south of the state, where 21 of the most expensive ZIP codes in the country are concentrated.

The second most expensive area in the country is Back Bay , in Boston. There the average cost of a house is 5.5 million dollars.

Similar prices are found in Sagaponack , New York state, within the Hamptons. The enclaves of the islands of Medina and Mercer , in the state of Washington, appear high in this ranking, followed closely by Santa Monica, Santa Barbara and Beverly Hills , in California.

But the case that draws the most attention this year is that of Fisher Island , in Miami Dade. Property values ​​on this small private island off Miami Beach jumped 66 percent in one year , making the biggest jump on the list since the ranking began.

Curiously, there are only four houses on Fisher Island, the rest are very luxurious apartments. This island is only accessed via ferry or helicopter, and can only be entered if invited by a resident.

The pandemic changed the way of life of many Americans, who decided to leave the cold of the north in search of the tropical heat of the south. Perhaps that is why, after the abrupt rise on the Fisher Island list, traditional neighborhoods in Manhattan disappeared from the top.

The most expensive neighborhoods in New York are Soho and Tribeca, which rank 23rd and 25th respectively, with median home prices of $ 3.2 million.

While property prices rose across the country, the 100 most expensive ZIP codes are concentrated in just 10 states: California, New York, Florida, Arizona, Connecticut, Massachusetts, Maryland, New Jersey, Nevada, and Washington.

Vineet Gupta
Vineet Gupta is a highly acknowledged reporter from India, his super fast and accurate journalism has received praise from People in India and around the Asia. Vineet is currently working with Globe Live Media as a freelance journalist and will provide all the major news from India to the platform.