Florida has a concentration of wealth, primarily in Miami, Fort Lauderdale, and Pompano Beach, which are home to half of the state's wealthiest suburbs. Palm Beach ranks highest with an average household income of $356,467 and a typical home value of $10,211,635. A wealth analysis by Henley & Partners shows Palm Beach County had a 112% increase in millionaires from 2014 to 2024. Palm Beach and West Palm Beach together host 11,500 millionaires, 78 centimillionaires, and 10 billionaires. Pinecrest follows with an average income of $312,591.
According to the findings, wealth is really concentrated in the state, with Miami, Fort Lauderdale, and Pompano Beach being home to 50 percent of Florida's wealthiest suburbs.
According to a 2024 wealth tracking analysis by Henley & Partners, Palm Beach County, which includes both Palm Beach and West Palm Beach, experienced a 112 percent increase in millionaires between 2014 and 2024.
The suburb has an average household income of $356,467, while the typical home value is a whopping $10,211,635.
Rob Frisbie noted, '(West Palm Beach) was this really unique place that was essentially a blank canvas... so ready to absorb this growth.'
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