The richest counties in Florida, and where the Treasure Coast ranks on that list, were recently discovered by the financial and tech company Smart Asset. Florida is home to some of the wealthiest counties and cities in the nation. Over the last several years, a large influx of new people coupled with a good economy has made Florida a very wealthy state. The Sunshine State has repeatedly made national headlines for attracting many high-profile celebrities and business executives who have decided to make Florida their home. The quality of life in Florida’s richest counties is second to none.
The top five wealthiest counties in Florida include:
- Monroe County
- Collier County
- Saint Johns County
- Miami Dade
- Palm Beach County.
These counties in Florida, among others, have become wealthier due to many factors, mainly including real estate, tourism, the local economy, and transplants like new families and retirees, boosting the economy and creating more wealth. There is a high concentration of millionaires in the Sunshine State, and the number of affluent buyers making Florida their home continues to grow. Below is more information on the richest counties in Florida and where the Treasure Coast sits among them.
Where Does the Treasure Coast Rank in Wealthiest Counties?
The Treasure Coast isn’t far behind on the list of wealthiest counties in Florida. Three Treasure Coast Counties rank in Florida’s top twenty most affluent counties. Martin, Indian River, and St. Lucie County rank high and have increased in affluence over the years.
Martin and Indian River County rank high due to average home value and income. Martin County’s average home value is $421K, and the average income is $89K. Indian River County has slightly lower numbers. The average home value is $310K. The average income is $84K, and the average investment income is $62K. St. Lucie County ranked lower due to an investment income of only $12K and an average income of $43K.
St. Lucie County has lower investment and average income, but it still ranks high as a place where regional wealth has grown substantially in the past decade. When Smart Asset looked at counties that were quickly growing wealthy, Martin County clinched the number three spot. Indian River County was number 10, and St. Lucie County ranked 16th. In St. Lucie County, home values and median income have increased impressively over the last decade.
Where Do the Rich Live in Martin and Indian River County?
There are many high-end communities in Indian River County, which include Windsor, Indian River Shores, Orchid Island, and Wabasso Beach. Many of these areas offer exclusive gated communities and feature luxury homes with private beaches and golf courses. The average home prices and values in Indian River County’s most affluent areas start in the millions. For example, the median home price in Windsor is more than $3 million, and in Orchid, Florida, opulent million-dollar homes are available for high-end buyers.
Martin County also has its share of areas with luxurious and high-end homes. Affluent areas include Jupiter Island, Sewalls Point, Tequesta, and Palm City. Martin County’s wealthy buyers often purchase estates in neighborhoods like Sailfish Point, Jupiter River Estates, Cove Point, and Loblolly Pines.
Homes in these neighborhoods typically start in the millions and offer magnificent estates with an array of amenities for ultimate luxury living. High-profile buyers in Florida’s richest counties want easy access to upscale shopping, fine dining, and prestigious golf courses, and the Treasure Coast ranks high for its amenities.
Martin County and Indian River County rank high as wealthy spots in Florida, yet the counties are also very accessible to the middle class. Both communities are filled with families, singles, and retirees who enjoy the excellent schools, incredible park systems, stunning beaches, and family-friendly atmosphere. Buyers who want budget-friendly options can find amazing communities with affordable homes and a high quality of life.
The Treasure Coast’s Economy and Lifestyle
Some cities have become very good at attracting new people and businesses. For example, on the Treasure Coast, Port St. Lucie and Vero Beach, Florida, have made efforts to create new business and tourism opportunities, boosting the local economy. Cities like Jupiter, Florida, have become hot spots for the wealthy. Jupiter is a celebrity enclave with many high-profile residents, such as Tiger Woods, Rory McIlroy, Michael Jordan, and Nick Saban. High-profile home buyers have attracted other affluent buyers and are building wealth in the area.
Martin County and Indian River County have also become more affluent by using their natural resources to their advantage. The area has beautiful beaches, golf courses, and a fantastic park system. The Treasure Coast’s natural beauty has attracted many visitors, and the region appeals to people who want to change their lifestyles. The Treasure Coast also has a strong economy with diverse industries, offering a range of employment opportunities. The Treasure Coast has a thriving manufacturing sector, and the healthcare sector is also a strong industry in the region.
Florida’s Richest Counties Offer a Lavish Lifestyle
Monroe County consistently ranks high on the wealth index because people are attracted to the Florida Keys for its beauty and unparalleled lifestyle. Rich people enjoy Monroe County’s tropical atmosphere and unique culture. Areas in Monroe County, such as Marathon Islands, Key West, and Islamorada, are havens for the wealthy who desire an incredible destination. The booming tourist industry also contributes to the affluence of Monroe County. More than five million people visit the area yearly to spend time in paradise. Collier County also ranks high due to Naples, a world-class city famous for its luxurious homes and resorts.
Palm Beach County has a reputation as a millionaire’s playground. The county is one of the most affluent areas of Florida, with over ten thousand millionaire households and over forty billionaires. Palm Beach is known for its generational wealth, and today is a mix of old and new money. In recent years, there has been an influx of new wealthy transplants from places like New York, Connecticut, and California. Real estate prices in the area have increased substantially, and a report in March 2024 found that home prices in Palm Beach County rose over 11% in one year. The average home price in Palm Beach County is around $500K.
What Makes a County Rich?
A few factors contribute to a county’s wealth. The Smart Asset study examined per capita income, investment income, and the average home value. The researchers also looked at IRS statistics and assets like savings and cash deposits. The local economy also has an impact. A strong economy with good jobs can quickly increase a city and county’s affluence.
Indian River County ranks high because it has an excellent economy and manufacturing companies like Piper Aircraft and McKesson Medical-Surgical. The healthcare sector is also strong, offering many employment opportunities. Martin County is also a highly desirable place to live and work. Many great local companies offer competitive salaries and job opportunities. The manufacturing, construction, retail trade, educational services, and professional technical services sectors create a robust regional economy for Martin County. Nearly fifteen percent of people in Martin County work in healthcare, a competitive field with many well-paying jobs.
The Treasure Coast ranks high for places where the wealth index has grown significantly in Florida over the last decade. Martin County came in at number three, Palm Beach County at number seven, and Indian River County at number ten. The average value of homes has increased substantially in these counties over the last several years, making all three Treasure Coast counties a wonderful place to live and invest.
