Coral Gables, Florida

The most expensive neighborhood in America? Really? Yes. Really.

I live in a different neighborhood but spend most of my time in Coral Gables or South Miami. We are only talking a few miles away, but almost everything I do, such as the grocery store, doctors, dry cleaners, etc., is in these two neighborhoods. One guess as to why I like this neighborhood…

These are some of the oldest trees I’ve seen in Florida, and are magnificent.

Downtown Coral Gables has excellent architecture with plenty of outdoor dining, a family requirement when we eat out. However, we will not take advantage of that now that it is ninety degrees before noon. If you have not visited Miami this year, you missed your opportunity. Unless you wish to face heatstroke or have a lobster-like sunburn, I suggest you wait until November to book your flights.

Like most of Miami, the town has reasonably priced parking through easy mobile apps. It is nice to park for less than five dollars. Word to the visitors: parking decks are expensive. Just download the parking apps and park on the street.

But this isn’t the reason for this week’s post of a lovely Miami neighborhood. It is Coral Gable’s dubious award for being the most expensive neighborhood (according to social media and other media¹) in the United States, surpassing all of the cities and towns in California. Beverly Hills has had that distinction for years, but no longer.

Why, you ask? As a suburb of Miami, what makes this town so special? As a real estate junkie, I had to know.

As you can see, much of Coral Gables city limits lies directly on the oceanfront of Biscayne Bay—the Atlantic Ocean. Searching Realtor.com,² on May 15, 2024, the most expensive home in Coral Gables was a 7-bedroom, 8.5-bath home on 2.09 acres for $69,000,000. Yes, I have the correct number of zeros there. The next row on my screen shows a LOT with 1.35 acres with NO HOUSE for $27,900,000.

I searched through four pages of homes before I reached homes in the $2M range, and it was not until page eight that I reached homes under $1M.

I think I need to take a course in economics to understand why a more expensive neighborhood costs less in which to live. I come to Coral Gables because the prices for services I need are lower than in my neighborhood, yet in real estate prices, this neighborhood is much more expensive. I'll admit that the highest-priced listing in Brickell is still ridiculous, but it is $36,900,000 for a 5-bedroom, 7.5-bathroom condo, almost half that of Coral Gables.

Here are examples from everyday life. Yesterday, my coffee in Coral Gables was $4, while routinely, my coffee in Brickell is $7. I use dry cleaners in Coral Gables because the one in Brickell is twice as expensive. The hairdresser down the hill from my apartment charges $500 for a haircut, while my hairdresser in CG charges me $60.³. Do you need a picture framed? I got a very reasonable price at Rudma Picture on Mendoza Avenue.

What other things have I discovered in Coral Gables? A new patisserie called Lien Bruno opened last week on the Miracle Mile. When I inquired about a fresh baguette, the chef asked if I had a few minutes to enjoy my coffee so she could bake me one. The photos of her pastries are luxurious. See @lienbruno on Instagram.

My Substack group meets at the cafe inside my favorite local bookstore, Books & Books. While Barnes and Noble is down the street, it lacks the local flavor of a B&B store. Boutique shopping is available throughout Coral Gables's downtown area, and there is an outdoor shopping mall at The Shops at Merrick Park.

The Actors’ Playhouse, a historic landmark, is on the Miracle Mile. The coolest public swimming pool, Venetian Pool, is also here. Another iconic landmark is the Biltmore Hotel, which hosts local events and organizations. The University of Miami is within the city limits, as is the Fairchild Tropical Botanic Gardens, which I have on my calendar to visit this month.

We found great Spanish food and wine at La Taberna Giralda. While TUR Kitchen across the street has a hint of Turkish food on its menu, it is a different take on Mediterranean food. You’ll have to experience it while enjoying the beautiful dining area. A block-long area in the middle of Coral Gables is only for pedestrian use, and the area is filled with sidewalk restaurants and boutique shops, making it a great place to get away from the traffic and relax.

While Miami and Miami Beach draw new residents and visitors alike, I find it better to travel inland, where the prices, ambiance, and neighborhood friendliness make for a better experience. Many follow the same practice—get away from the most popular areas, and you’ll have a much better experience.

While Coral Gables may be the most expensive neighborhood in the country, for the moment, the local prices have not caught up with the real estate. Let’s hope it stays that way.

1. "Gables Estates in Coral Gables, a suburb of Miami, took first place on this rankings list, with the average home value hovering close to $17 million."

2. Please do not use Zillow to look for house prices. It will not give you the correct information. If you need to understand why, please research Zillow’s 2019 fiasco, when it was forced to shut down its homebuying business and lay off staff.

3. Of course, my Gables hairdresser wanted $250 for highlights. Given that my hairdresser in Istanbul charges me $60 for a haircut and full highlights, I declined.