Miami's Fisher Island is the Country's Richest Zip Code
With global influences, an international annual arts fair, historic architecture, and miles of white sand and turquoise waters, Miami is known for its wealth. It also happens to be home to the country’s richest zip code.
According to a new report from Bloomberg using Internal Revenue Service data from 2015, Fisher Island (zip code 33109) had an average income of $2.54 million. That makes it far and away the richest zip code in the United States. Silicon Valley (zip code 94027) in California, which holds second place, had an average income of $1.49 million — its tech-y residents made more than a million dollars less than Fisher Island’s. What’s more, Fisher Island was the only zip code in the report where more than half of all the tax returns analyzed showed an income of greater than $200,000.
Fisher Island’s uber-rich status and ferry-only access (or, more likely, private boat or helicopter access) may differ from your average Miami home. But the island is actually more representative of Miami than you might think. Its diverse residents hail from more than 50 different countries, underscoring the city’s international cachet and its range of options for foreign buyers. Like Miami Lakes, it sat largely undeveloped until the 1960s and even shared that suburb’s early political connections: Prior to devleopment, the land was sold to a development group that included U.S. Senator George Smathers and President Richard Nixon.
Still, Fisher Island is in a different stratosphere, and that’s in a city where Star Island exists. Legendary former residents have included Mel Brooks and Anne Bancroft, Andre Agassi, and Oprah. The latter last sold her house for $13.5 million in 2014. The buyer — billionaire investor Lawrence Stoll — paid in cash. Plebeians yearning for a taste of luxury can stay at the Fisher Island Club, but it’ll cost ‘em: A recent search for the “best available” rate for a guest house suite started at $1,075 a night.
Overall, the state of Florida had three coveted zip codes on the list. Palm Beach (zip code 33480) ranked No. 3 among the top 20 richest with an average income of $1.25 million, and Naples (zip code 34102) placed 15th with an average income of $694,700. Because Florida does not tax personal income, its favorable showing on the list is probably no surprise. Compare that with well-known, well-to-do areas like Manhattan, which did not even make the Top 20, and you’ll see why some real estate professionals say the new tax bill may bring an influx of people from New York and New Jersey to Miami.