Which Miami neighborhoods made it to Forbes Most Expensive ZIP Codes List?
Fisher Island is no stranger to Forbes’ 2015 list of America’s Most Expensive ZIP Codes, on the contrary, Fisher Island has been a regular participant in previous years. This year, 2 other Miami neighborhoods made it to the infamous list.
America’s Most Expensive ZIP Codes – Methodology
Forbes has worked with the housing market data provider Altos Research on this list for several years. Our ranking is based on asking prices rather than closed sales. We believe the former is in many ways is a better barometer of the current market — the sample size for sales prices is smaller and the data is older given the time it takes for transactions to close or become public. Altos looked at prices of single-family homes and condos in 28,500 ZIPs (which covers 95 percent of the U.S. population), calculating a median, rolling average for the 90-day period ending Oct. 9. For each ZIP code, prices are weighted according to the mix of housing stock available in the market.
#6 – Fisher Island 33109
Miami’s Fisher Island has one of the highest per-capita incomes in the U.S., so it’s not surprising that it also has some of the most expensive real estate. Median home price: $5,560,077 Inventory: 63 Average days on the market: 147
#28 – Coral Gables 33156
Median home price: $3,861,604 Inventory: 54 Average days on the market: 258
#35 – Coral Gables 33143
Median home price: $3,861,604 Inventory: 47 Average days on the market: 117 Although it’s great news that Miami makes it to the top 50 list, there’s something about this list that favors those tiny enclaves around the country. There are many zip codes in Dade-county that contain several cities/neighborhoods and therefore don’t make the list because of the disparity in price ranges. It’s a zoning and urban planning issue and we should not misconstrue this information to mean that the most expensive homes are only in these areas. Like everything in life, take this information with a grain of salt.