Miami-Dade County is home to the sixth-most-expensive ZIP code in the U.S., according to the most recent America’s Most Expensive ZIP Codes rankings from business magazine Forbes and housing-market-data data provider Altos Research. To find the priciest enclaves, Altos evaluated listing prices for single-family homes and condos in 29,500 ZIP codes across the U.S. (covering 95% of the population) and calculated a median, rolling average for a 90-day period ending Oct. 9, 2015. The 500 most expensive ZIP codes in the country made the list.
Miami Beach (Fisher Island)
The priciest area in Miami-Dade County – and all of Florida – is Miami Beach (Fisher Island), ZIP code 33109, an exclusive community accessible only by boat or private ferry. Here the median home price is $5.6 million, and homes spend an average of 147 days on the market. In the $5 million to $6 million range, buyers will find a fairly tight inventory consisting of spacious three bedroom/bath waterfront condos that offer floor-to-ceiling windows, spectacular views and numerous building amenities, including fitness centers, pools, saunas and gardens.
The most expensive property listed in Fisher Island today is a $38.5 million penthouse condo, with nearly 10,000 square feet of interior space and 9,000 square feet of outdoor terraces, a private rooftop pool, Jacuzzi, pergola and summer kitchen. Amenities include access to private island dining, golf, tennis, spa, marina and a private beach.
Miami-Dade County’s Top 10
In addition to Fisher Island, Miami-Dade County is well represented on Forbes’ America’s Most Expensive ZIP Codes list for 2015. Here are its 10 most expensive ZIPs (from highest to lowest), along with the median home price and the average number of days on the market. The median household income is from Esri (the Environmental Systems Research Institute), a company that provides maps, data and apps through geographic information systems. Note that four of the ZIP codes are in Coral Gables.
1. 33109 – MIAMI BEACH (FISHER ISLAND)
Median Price: $5,560,077
Average Days on Market: 147
Median Household Income: $62K
2. 33156 – CORAL GABLES
Median Price: $3,861,604
Average Days on Market: 258
Median Household Income: $89K
3. 33143 – CORAL GABLES
Median Price: $3,477,137
Average Days on Market: 152
Median Household Income: $54K
4. 33149 – KEY BISCAYNE
Median Price: $2,377,527
Average Days on Market: 178
Median Household Income: $105K
5. 33156 – PINECREST
Median Price: $1,626,098
Average Days on Market: 159
Median Household Income: $89K
6. 33301 – FORT LAUDERDALE
Median Price: $1,267,766
Average Days on Market: 170
Median Household Income: $65K
7. 33146 – CORAL GABLES
Median Price: $1,256,182
Average Days on Market: 117
Median Household Income: $107K
8. 33133 – COCONUT GROVE
Median Price: $1,039,912
Average Days on Market: 147
Median Household Income: $54K
9. 33154 – MIAMI BEACH
Median Price: $1,009,250
Average Days on Market: 132
Median Household Income: $54K
10. 33133 – CORAL GABLES
Median Price: $987,656
Average Days on Market: 153
Median Household Income: $54K
The Bottom Line
With a median home price of $5.6 million – and lots of homes listed above $10 million – you might expect a few wealthy residents in Fisher Island, Miami’s most expensive ZIP code. Indeed, this exclusive island is home to some of the country’s billionaires, including Oprah Winfrey (net worth $3.1 billion), Syntel founders Bharat Desai and his wife, Neerja Sethi (net worth $2.5 billion), and businessman Alexander Machkevich (net worth $1.84 billion).
