Top 10 richest cities in Florida

Florida is one of the states in the United States that has experienced fast economic and societal growth since the mid-20th century, with a gross state product (GSP) of over $1.0 trillion.

The state, located in the southern United States, has the fourth-largest economy in the United States and the 16th-largest in the world. Florida is home to several beautiful cities bordering the Atlantic Ocean, attracting many tourists.

It is the third-most populous city in the US, with over 21 million occupants, most of whom are wealthy. The Miami metropolitan area, one of the city areas in Florida, ranks the ninth most populous in the US, with almost 6.2 million people.

Florida is home to several wealthy cities known worldwide owing to its tourism, hospitality, real estate, and transportation systems, as well as its sunny climate suitable for recreational activities.

The rich cities in Florida generate over 10 million visitors annually, owing to a plethora of beach resorts and amusement parks that have skyrocketed its economy to enormous proportions.

Though there are many rich cities in Florida, some are more wealthy than others, which brings our attention to the top 10 richest cities in the state.

The top 10 richest cities in Florida, United States, are:

1. Palm Beach
2. Weston 
3. Longboat Key 
4. Naples 
5. Sanibel
6. Key Biscayne 
7. Pinecrest
8. Coral Gables
9. Parkland 
10. Neptune Beach

1. Palm Beach

Palm Beach is one of the most beautiful towns in Palm Beach County, Florida. It is located in the east-central part of Palm Beach County and has a population of over 25,000 people.

Palm Beach has experienced rapid economic growth since its origin, which makes it the richest city in Florida, with an average annual income of $129,941 among its residents.

Palm Beach is home to over 35 billionaires, who have appeared on Forbes' list of the world's wealthiest men on multiple occasions, including former US President Donald Trump.

Following a 1.4% increase in the job market the previous year, the lovely city reduced its unemployment rate to more than 4.7%, which is lower than the 6% rate in the United States.

Despite being one of the most expensive places to live, it is one of the most visited cities in the United States, with over 30436 visitors arriving each year.

2. Weston

Weston City, located in Broward County, Florida, is well-known for its healthcare, scientific, and technical services, which generate significant revenue for the city each year.

The beautiful city of Florida is part of the Miami metropolitan area, just 30 miles away from the northwest of Miami. Weston City ranks second on our list of the top ten richest cities in Florida, with an average annual income of $102,346.

The Southeastern City has been able to generate a huge source of income to rank second among the richest cities in Florida following a 4.3% increase in job opportunities that reduced the unemployment rate in Weston to 3.6%.

According to projections, Weston's rapid income growth could see a 42% increase in the next ten years if the current rate of development is maintained.

In addition to Weston's aforementioned sources of income, which have helped them rank as one of the richest cities in Florida, are real estate business, rental business, and manufacturing.

Weston city is also home to 15 parks and other recreational facilities that generate a huge amount annually, including Bonaventure park, Community Centre, Eagle Point park, etc.

3. Longboat Key

Longboat Key is located south of Anna Maria Island, between Sarasota Bay and the Gulf of Mexico. The city is part of the Bradenton–Sarasota–Venice Metropolitan Statistical Area, which was formed in 1955.

It is also one of the cities in the United States with a low unemployment rate, having seen a 2.6% increase in job opportunities in its area.

Longboat Key has a population of over 7505 and is almost entirely filled with homes or condominium apartments with pools, tennis courts, and water views.

The residents of Longboat Key are engaged in different lucrative jobs, including manufacturing, real estate business and construction, leaving them with a median household income of $84,403 annually, higher than the US average of $53,482.

4. Naples

Naples is a white-sand beach city founded in 1886 and incorporated as a town in 1923. It is located in Collier County, Florida, United States, and habours over 19,000 people.

The city has a high economy that is based largely on tourism owing to the high number of visitors it receives annually as it is home to major land reserves such as Everglades National Park, Florida Panther National Wildlife Refuge, Big Cypress National Preserve, Ten Thousand Islands National Wildlife Refuge, Picayune Strand State Forest, and Corkscrew Swamp Sanctuary.

It also houses many recreational places that attract people from different areas, such as the Coastland Center, Venetian Village, Naples Botanical Garden, Naples Depot Museum, Naples Zoo, Palm Cottage, Waterside Shops, and Golisano Children's Museum of Naples.

Naples is also home to many companies that have helped increase the beautiful city's economy, including Beasley Broadcast Group, ASG Technologies, ACI Worldwide and Arthrex.

Despite the high number of people living in Naples, it only has a 4% unemployment rate following an increase of 0.9% in job opportunities in the past year.

Naples has an average annual income of $84,721 among its residents and a median household income of $80,571, making it one of the richest cities in Florida.

5. Sanibel

Sanibel is a city that is also known as Sanibel Island, with more than half of its land covered by water. It is located in Lee County, in the southwest part of Florida.

Ranked as the fifth richest city in Florida, Sanibel is a barrier island that accumulates a large number of seashells, while its beaches attract millions of visitors annually, which generates huge income for the beautiful city.

Sanibel is also one of the cities in the United States that has fought hard against unemployment in the country, with 4.6% less than the national average.

The beautiful city of Florida is well-known for manufacturing, retail trading, real estate, and rental businesses. It also generates income through accommodation and food services, including seafood.

In the past year, the rate of employment opportunities in the city has skyrocketed to over 1.9%, which all accounts to why the city ranks as the fifth richest city in Florida, with expectations that it could hit 41.6% on average in the next ten years.

Sanibel's current annual average income for residents is $81,744, while the median household income of a Sanibel resident is $97,788 yearly.

6. Key Biscayne

Key Biscayne is a beautiful city in Miami-Dade County, Florida, with a population of 14,487 in 2021 after seeing massive immigration of over 2000 people after their 2010 census.

The city contains several standard hotels and condominiums, which have helped the population soar in recent years, including the Ritz-Carlton Hotel, Grand Bay, Ocean Club, Key Colony, Towers of Key Biscayne, Casa del Mar, and the newest building in the city, Oceana.

Key Biscayne, Florida, is ranked as the sixth richest city in Florida, with an average income of $76,709 annually, while the median household income of a Key Biscayne resident is over $121,023 annually.

The city is known mostly for its real estate, rental, wholesale, and retail businesses, while it barely engages in manufacturing and construction. Key Biscayne is also known as the home of many medical practitioners, as it is the highest-paying job in the city, with an average annual income of $228,125.

Though Key Biscayne has a high average income, the cost of living is something you would have to consider before considering migrating to the city.

7. Pinecrest

Pinecrest is a large, densely populated suburb in Miami-Dade County, Florida. It was established in 1996 and is governed by a five-member village council.

There are more than five public parks in the city: Flagler Grove Park, Coral Pine Park, Suniland Park, Evelyn Greer Park, and Veterans Wayside Park - all get a lot of visitors every year and generate a lot of money.

Pinecrest is ranked as the 7th richest city in Florida, with an average income of $62,536 and a median household income of $122,235. With a large population, Pinecrest engages in different businesses such as construction, manufacturing, retail and wholesale trading, accommodation and food services, etc.

Pinecrest has planted over 10,000 trees since its development, which has made the city more attractive, drawing the attention of many visitors annually, and helped it secure a place among the wealthiest cities in Florida.

Despite the large population in Pinecrest, the community has fought vehemently against unemployment, raising its employment opportunity to over 0.8% in the past year.

If you are new to Pinecrest and looking for the best place to live in the city, you could check the Regional Center—South Atlantic Coast near the southern tip of the Florida Peninsula.

8. Coral Gables

Coral Gables is home to the University of Miami, one of the United States' top private research universities. It is an area with a large land mass of over 37 square miles and a large population of over 49,248 people.

The beautiful city holds some of the wealthiest zip codes in the United States, including Cocoplum, Old Cutler Bay, Hammock Oaks, Gables Estates, Snapper Creek, Tahiti Beach, Lakes, and others.

Ranked as the 8th richest city in Florida, Coral Gables owns many major economic contributors that generate huge income, such as the University of Miami, Baptist Hospital of Miami, American Airlines, Fresh Del Monte Produce, Bacardi Spirit Companies, and multiservice satellite provider Intelsat.

Coral Gables has seen a high increase in the number of quality jobs, and the city has an average annual income of $56,721 among its residents, as well as a median household income of $93,590.

Coral Gables residents most often dabble in professional, scientific, and technical services, and they generate over 17% of the income in the city.

9. Parkland

Parkland is a suburban city in Florida, 42 miles away from the northwest part of Miami, with a population of over 35,000 as of 2021. It is part of the Miami metropolitan area, which houses millions of people from several continents.

The city is among the neighboring communities with the least unemployment in Florida, recording a rate of 3.2% after a massive 1.9% increase in its source of income last year.

The average annual income in Parkland is $49,671, which is why it is ranked as the ninth richest in Florida, United States. On the other hand, Parkland's median income is $126,905 per year.

Parkland residents base their livelihoods on diverse jobs that earn them huge incomes, such as construction, manufacturing, wholesale and retail trading, real estate, and rental businesses.

10. Neptune Beach

Neptune Beach is a city in Duval County, Florida, United States, in the Jacksonville metro area, with a population of over 7,000. The city is ranked 10th in our list of the top 10 richest cities in Florida.

Despite a 2.7% increase in job opportunities, Neptune Beach has experienced a 0.3% population decline since 2020, which could be attributed to the high cost of leaving.

Neptune Beach has an average annual income of $49,331 and a median household income of $67,386, owing to several lucrative jobs in the city.

The major jobs in Neptune Beach, which have helped it rank among the richest cities in Florida, are health care and social assistance, which take up 20%, and other top jobs like construction, manufacturing, accommodation, food services, and trading.