Changing face of America's property market: Priciest neighborhoods are no longer in New York and SF - with nine of top 12 in Florida and rest in Beverly Hills
Daily Mail
February 14, 2023
The most expensive neighborhoods are no longer in New York and San Francisco as many billionaires and celebrities relocate to Florida to save on taxes.
Star Island in Miami is known to attract many A-list figures, such as Jennifer Lopez and Rosie O'Donnell, with a private gated bridge and luxury homes surrounded by Biscayne Bay turquoise waters. Homes on the man-made island can sell for as high as $70 million but the medium home value is $40 million, according to Bloomberg .
Star Island saw an increase in its selling price by 23.5 million since 2019. The shift in home prices occurred throughout COVID as several people fled to Florida where there were fewer pandemic restrictions and no state income tax.
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