Home prices by range, neighborhoods, gated communities, the waterfront, schools, the cost of owning and the Florida tax advantage in Coral Gables, read from MLS closed sales and Miami-Dade County records.
Coral Gables is a city of its own in Miami-Dade County, southwest of downtown Miami, planned by George Merrick from 1921 and incorporated on April 29, 1925, a city of houses on planned streets, with fourteen gated communities and homes on Biscayne Bay and its canals.
In the twelve months to September 30, 2026, single-family homes in Coral Gables closed at a median of $2,200,000, from 389 closed sales the MIAMI REALTORS® MLS reported.
A Board of Architects reviews every new house, addition and exterior alteration before a permit is issued.
This guide reads its prices, neighborhoods, waterfront, schools and costs from those sales and the County's record.
When George Merrick broke ground on Coral Gables in 1921, he made a promise that most developers never make: that every detail of the city he was building — the streets, the entrances, the architecture, the parks, the fountains — would be designed not just for the moment, but for permanence.
One hundred years later, that promise is still being kept.
In Coral Gables, a Board of Architects reviews every new house, addition and exterior alteration before a permit is issued. Coral Gables holds a Fortune 500 headquarters, a National Historic Landmark hotel celebrating its centennial and a waterfront estate that sold for $55 million, and one of North America's top 10 private schools stands nearby.
And yet, many buyers who could afford Coral Gables do not fully understand what they are buying into until they have spent time here.
This guide exists to fix that.
Every quarter since Q3 2019 · MIAMI REALTORS® MLS
Coral Gables, every quarter from Q3 2019 to Q3 2026 · MIAMI REALTORS® MLS, data as of October 18, 2026
Median sale price
Single-family
Condominiums
| Prices by quarter | Median sale price · Single-family | Median sale price · Condominiums | Median price per square foot · Single-family | Median price per square foot · Condominiums | Median days on market · Single-family |
|---|---|---|---|---|---|
| Q3 2019 | $937,500 | $270,000 | $461 | $327 | 88 |
| Q4 2019 | $885,000 | $415,000 | $427 | $332 | 80 |
| Q1 2020 | $975,000 | $375,000 | $440 | $328 | 74 |
| Q2 2020 | $947,500 | $310,000 | $434 | $329 | 71 |
| Q3 2020 | $1,042,000 | $350,000 | $456 | $313 | 85 |
| Q4 2020 | $1,175,000 | $355,000 | $482 | $340 | 46 |
| Q1 2021 | $1,200,000 | $370,000 | $497 | $333 | 57.5 |
| Q2 2021 | $1,495,000 | $350,000 | $551 | $351 | 29.5 |
| Q3 2021 | $1,325,000 | $392,500 | $583 | $377 | 23 |
| Q4 2021 | $1,537,500 | $459,000 | $594 | $410 | 26 |
| Q1 2022 | $1,787,500 | $516,000 | $697 | $439 | 19 |
| Q2 2022 | $1,600,000 | $574,995 | $738 | $512 | 9 |
| Q3 2022 | $1,720,000 | $505,000 | $736 | $489 | 24 |
| Q4 2022 | $1,550,000 | $548,000 | $776 | $498 | 35.5 |
| Q1 2023 | $1,702,500 | $573,750 | $771 | $522 | 54 |
| Q2 2023 | $1,742,500 | $565,000 | $809 | $525 | 30.5 |
| Q3 2023 | $1,492,500 | $550,000 | $801 | $549 | 29.5 |
| Q4 2023 | $2,075,000 | $590,000 | $822 | $538 | 30 |
| Q1 2024 | $1,750,000 | $620,000 | $817 | $564 | 40 |
| Q2 2024 | $2,017,500 | $588,000 | $915 | $539 | 38 |
| Q3 2024 | $1,875,000 | $605,000 | $892 | $570 | 31 |
| Q4 2024 | $1,912,237 | $575,000 | $850 | $561 | 39.5 |
| Q1 2025 | $2,500,000 | $585,000 | $929 | $549 | 48 |
| Q2 2025 | $2,350,000 | $550,000 | $928 | $527 | 53 |
| Q3 2025 | $1,963,500 | $500,000 | $895 | $544 | 41.5 |
| Q4 2025 | $2,012,500 | $526,000 | $894 | $488 | 62 |
| Q1 2026 | $2,000,000 | $530,000 | $925 | $503 | 49 |
| Q2 2026 | $2,635,000 | $566,500 | $946 | $544 | 44 |
| Q3 2026 | $2,150,000 | $560,000 | $949 | $543 | 40 |
Most Miami neighborhoods evolved organically — shaped by developers, market cycles, and shifting demographics. Coral Gables was designed. Every street, every entrance gate, every building setback was part of a master plan executed with the precision of a European city.
The result is a neighborhood that cannot be replicated. A Board of Architects reviews every new house, addition and exterior alteration before a permit is issued.
This matters for buyers because it means the supply of Coral Gables real estate is structurally constrained. You cannot build more of it. The land is finite and the zoning is restrictive. That is the foundation of long-term value.
Coral Gables is its own city, with its own police, fire department and building department.
A Board of Architects reviews every new house, addition and exterior alteration before a permit is issued.
Its own police, fire department and building department.
The land is built out. Restrictive zoning prevents densification. New construction is infill only — not expansion.
Gables Estates, a Coral Gables gated community, has the highest typical home value of any U.S. neighborhood in Zillow's Home Value Index (September 2026), ahead of Port Royal in Naples and Old Cutler Bay, also in Coral Gables.
Ryder System's global headquarters and Bradesco Bank's U.S. headquarters are in Coral Gables; Bacardi USA is registered in the city, and FIFA and Apple have offices there.
The Biltmore Hotel — a National Historic Landmark — opened in 1926 and is celebrating its centennial. The Venetian Pool, carved from a coral rock quarry in 1923, is on the National Register of Historic Places. These are not amenities. They are the DNA of the city.
This chapter shows what makes Coral Gables a planned city, and how its closed-sale prices have moved: the median sale price, the median price per square foot and the median days on market of single-family homes and condominiums, quarter by quarter since the third quarter of 2019, from MIAMI REALTORS® MLS closed sales, with data as of October 18, 2026. It reads the market's long run, not the price of one home.
Coral Gables is not one market: this guide reads its gated communities and the city outside them, each with its own buyer profile, price range, and value proposition. Knowing which one fits your needs is the difference between a good purchase and a great one.
These profiles set 7 Coral Gables gated communities and the city outside them side by side: who buys there, at what price and why, from MLS closed sales and Miami-Dade County records. They help you choose where to look, not what to offer.
One panel a place: the gated communities this guide profiles and Coral Gables outside the gated communities, each with its price range.
ULTRA-LUXURYGables Estates offers no-bridge ocean access, the largest lots, and the most exclusive entry.
TROPHY WATERFRONTOld Cutler Bay holds the highest $/SF in Coral Gables, with mangrove seclusion and maximum privacy.
INVITATION ONLYTahiti Beach is double-gated with a private beach and only 26 homes.
PREMIUM AMENITYCocoplum has a private marina, canal access, and is the largest community.
VALUE WATERFRONTSnapper Creek Lakes pairs canal access with entry-level gated pricing and strong appreciation.
NON-WATERFRONT GATEDHammock Lakes is the best-value gated option, with lush landscaping and top schools nearby.
PARTIAL WATERFRONT · LOWEST ENTRYGables by the Sea has the lowest documented entry; only its canal-front homes south of Lugo Avenue reach the bay with no fixed bridge.
OUTSIDE THE GATESHistoric Mediterranean Revival homes on tree-lined streets. Proximity to Miracle Mile, Biltmore, Venetian Pool. Character and walkability.
Understanding who buys in Coral Gables matters for two reasons: it tells buyers who their competition is, and it tells sellers who their future buyer will be. This chapter reads it from Miami-Dade County's record of where the tax bill of each home sold goes.
Of the 347 Coral Gables houses sold for $200,000 or more from October 2025 to August 2026, 209 have their tax bill mailed to the house itself and 121 elsewhere in Miami-Dade; 8 go to other states and 0 abroad, by Miami-Dade County’s property record, read October 19, 2026.
Tax bills mailed to the home itself
In Coral Gables, the share of residents who had lived in another state a year earlier rose from 3.5% in 2015–2019 to 5.5% in 2020–2024, led by the Northeast (U.S. Census Bureau, American Community Survey). Among buyers from other states across South Florida, New York has ranked first for six years running, with 24% of them in 2025 (MIAMI REALTORS®).
Coral Gables residents from another state
Ryder System has its global headquarters in Coral Gables, and Bradesco Bank its U.S. headquarters. Bacardi USA is registered in the city, and FIFA, with its Americas office, and Apple, with its Latin America sales team, work from offices there (the companies’ own filings and pages, read October 19, 2026).
Headquartered in Coral Gables
Of the 897 Coral Gables houses bought from 2022 through 2024 for $200,000 or more, 576 carry Florida’s homestead exemption on the County’s 2026 roll, which an owner claims only on a permanent residence; for condominium units the share is 40%. A home bought in 2026 cannot show it until the 2027 roll (Miami-Dade County Property Appraiser, read October 19, 2026).
Houses with the homestead exemption
The share of Coral Gables houses bought in the name of a company (an LLC, corporation or partnership) rose from 14% of 2022 purchases to 26% of 2025’s, and another 10% of the houses bought since 2022 are held in trusts. At $5,000,000 and above, 28% are titled to a company and 20% to a trust. A name in the record does not say who is behind it (Miami-Dade County Property Appraiser, read October 19, 2026).
Houses bought in a company’s name, 2025
Miami-Dade County's property record answers part of that question. Of the Coral Gables houses sold for $200,000 or more from October 2025 to August 2026, 60% have their tax bill mailed to the house itself and 121 to another address in Miami-Dade; 8 go to other states and 0 abroad. Of the 226 condominium units sold in the same months, 18 have their bill mailed to another state and 1 abroad (Miami-Dade County Property Appraiser, read October 19, 2026). The record shows where an owner receives the bill today, not where a buyer came from: an owner who moved from another state or country and lives in the house is counted at the house, and one who buys through a company or a Miami attorney can receive the bill at a Miami-Dade address. For a buyer moving from another state, Florida's absence of a personal income tax is measured in the tax chapter of this guide.
This chapter shows where Coral Gables buyers receive their tax bill, a sign of who lives in what they bought. Of the houses sold for $200,000 or more from October 2025 to August 2026, 60% have it mailed to the house itself, 8 to other states and 0 abroad, by the Miami-Dade County Property Appraiser. It tells a buyer who the competition is, and a seller who the next buyer may be.
Coral Gables operates across four distinct price ranges. Understanding which range you are in — and why — is the first step to making a sound purchase decision.
6550 SW 75th Terrace, a Coral Gables area home outside the gated communitiesNon-waterfront single-family homes, older construction, smaller lots. Coral Gables proper, outside the gated communities.
2822 Coconut Avenue, a new-construction Coral Gables home outside the gated communities, framed by royal palmsRenovated or new construction outside the gated communities. Gated community entry (Snapper Creek, Hammock Lakes). Larger lots.
3860 Little Avenue, new construction Coral Gables residence on a mature oak-shaded lotGated waterfront (Cocoplum, Gables by the Sea). New construction premium outside the gated communities. Snapper Creek's upper range.
1045 N Venetian Drive, waterfront residence with private dock on open waterGables Estates, Old Cutler Bay, Tahiti Beach. Bay access, no fixed bridge. Trophy properties.
These price ranges tell you what a square foot costs at each level of the Coral Gables market. A single-family home that sold for $2 million to $4 million went for $915 a square foot at the middle of those sales, by MLS closed sales since January 2022, and the price per square foot climbs with each range above it. They frame a budget, not the value of one home.
Most of Coral Gables is not behind a gate: 317 of the 389 single-family homes sold in the twelve months to September 29, 2026 were outside the 14 gated communities, at a median of $1,915,000 — against $7,065,750 inside them.
Coral Gables homes for sale and prices →
This chapter shows that most of Coral Gables is outside a gate: 317 of the 389 single-family homes sold in the twelve months to September 29, 2026, at $1,915,000 for the sale in the middle, against $7,065,750 inside the 14 gated communities, by MLS closed sales. It tells you where most of the market trades.
Coral Gables has 14 documented gated communities. They are not interchangeable. Each has its own water access, lot size profile, buyer demographic, and price-per-square-foot range.
Coral Gables gated communities →
This chapter orders Coral Gables' 14 gated communities by how they reach the water, from Miami-Dade County records and MLS closed sales. It shows which community fits a boat, a lot or a budget, not what one home is worth.
Not all waterfront is equal. In Coral Gables, a home with no fixed bridge between its dock and the bay can sell for considerably more per square foot than one that reaches the bay under a bridge. Understanding the hierarchy is essential before making any waterfront purchase.
This chapter shows what open water is worth in Coral Gables: a home with no fixed bridge between its dock and the bay sells for $700 to $1,500 more per square foot than a home off the water, as Julian Acosta stated from his own transactions on September 30, 2026. It helps you weigh a waterfront home's access before its price.
Condominiums are the lowest-priced way to own in Coral Gables: 224 closed in the twelve months to September 29, 2026, at a median of $540,000 — about 25% of the single-family median — while townhomes are a thin market of 19 sales at a median of $1,400,000.
| Building, by its MLS name | Built | Sales | $/SF · middle half |
|---|---|---|---|
| Merrick Manor | 2019 | 147 | $743 – $819 |
| Puerta de Palmas | 2007 | 62 | $434 – $513 |
| David William | 1963 | 58 | $368 – $476 |
| Gables Waterway Towers | 1969 | 57 | $412 – $540 |
| Biltmore II | 1973 | 48 | $431 – $491 |
| One Village Place | 2008 | 43 | $531 – $592 |
| Ten Aragon | 2004 | 41 | $527 – $619 |
| Villa Capri | 1970 | 36 | $294 – $335 |
sales since 2022
Median $/SF
| Building, by its MLS name | Median $/SF | Sales | $/SF · middle half |
|---|---|---|---|
| Villa Valencia | $989 | 14 | $884 – $1,096 |
| Giralda Place | $876 | 10 | $820 – $1,016 |
| The Gables Club | $853 | 26 | $757 – $937 |
| Biltmore Parc | $811 | 16 | $799 – $956 |
| Merrick Manor | $784 | 147 | $743 – $819 |
| Gables on the Green | $769 | 13 | $679 – $833 |
| Milano at Deering Bay | $711 | 11 | $645 – $816 |
In four ZIP codes. Of the 224 condominium sales of the last twelve months, 134 were in 33134 — downtown and the Miracle Mile area — 53 in 33146, the Merrick Park and university side, 29 in 33133 and 8 in 33158, Deering Bay. None closed in 33143 or 33156.
Across the 224 sales, the middle half ran from $418,750 to $776,250, or $439 to $607 a square foot, with a median association fee of $1,136 a month. The age of the building splits the market in two: almost half of the condominiums sold — 103 of 224 — are in buildings that reach 30 years of age in 2026 or have already passed it, the age at which Florida's milestone inspection falls due for a building of 3 habitable stories or more.
A building is counted as its condominium on the County's record, under every name the MLS files its sales. The highest prices per square foot are in a handful of smaller and newer buildings.
Townhomes are few. In the twenty-four months to September 29, 2026, 34 closed, at a median of $1,450,000 and $603 to $912 a square foot, with a median association fee of $695 a month. Since 2022, 67 have closed across 36 plat names. At that volume a building-by-building table says little; what each complex has closed is on the condos and townhomes page →.
A condominium building of 3 habitable stories or more needs a milestone inspection by the end of the year it turns 30, and every 10 years after; a second, deeper phase follows only if the first finds substantial structural deterioration. Miami-Dade's own recertification applies at 30 years — 25 for coastal condominiums of 3 stories or more built in 1998 or later — and the City of Coral Gables runs it inside the city. The same buildings need a structural integrity reserve study every 10 years, covering the roof, structure, fireproofing, plumbing, electrical, waterproofing, windows and exterior doors; the first was due by December 31, 2025, or by December 31, 2026 when done together with the milestone inspection. For budgets adopted since December 31, 2024, owners can no longer vote to skip or cut the reserves for those items. Since July 1, 2025, an association may instead fund them by special assessment, loan or line of credit with a majority of all voting interests, and may pause contributions for up to 2 budgets to pay for milestone repairs, for budgets adopted through 2028.
On a resale, the seller must hand over the declaration, bylaws, rules, budget and financial statement, the milestone inspection summary and the most recent reserve study — or a statement that none was done — and the buyer may cancel within 7 days, excluding weekends and legal holidays, of receiving them. On a purchase from a developer, the window is 15 days.
Fannie Mae will not buy a loan on a unit in a project that needs critical repairs — including one that has failed a mandatory inspection — until they are done; a special assessment tied to an unrepaired critical item makes the project ineligible as well. On a full review, the association's budget must put at least 10% into reserves, unless a qualifying reserve study supports its funding — a study at the baseline minimum does not.
The City of Coral Gables does not allow stays shorter than 6 months in areas zoned for single-family or multifamily residential use. A building's own declaration can add limits of its own; it is part of the documents above.
The association insures the building; the owner insures the unit. In Miami-Dade, a condominium unit-owner policy with wind averaged $2,801 a year on data as of March 31, 2026, and Citizens' flood-insurance requirement does not apply to unit-owner policies.
The pipeline — each project's stage, pricing and delivery — updates as the projects move; it is read on the Coral Gables hub →. Sales in buildings delivered since 2016 are in the first table.
The condos and townhomes page reads the most-traded buildings one by one, and the townhomes by the year they were built.
This chapter shows the lowest-priced ways to own in Coral Gables: 224 condominiums sold in the twelve months to September 29, 2026, at $540,000 for the sale in the middle, about 25% of a house, and 19 townhomes at $1,400,000, by MLS closed sales. It tells you what entry into the market costs.
Coral Gables has one of the most constrained new construction pipelines in South Florida. Each project's status and price are on the Condos page.
Coral Gables new construction →
Set a Coral Gables new-construction price, published by its developer and read in the second quarter of 2026, beside what a delivered building resells for: Villa Valencia's 14 closed sales since 2022 are MLS records, which a developer's list price is not.
Coral Gables is served by Miami-Dade County Public Schools. Inside the city limits stand 7 district schools and 1 public charter school, and the elementary, middle and high school a home is zoned to is set by its address — for parts of the city, schools located outside it.
Which public schools serve an address: the district's School Finder ↗
| School | Level | State grade 2026 (2025) |
|---|---|---|
| Sunset Elementary ↗ | Elementary | A (A) |
| Pinecrest Elementary ↗ | Elementary | A (A) |
| Howard Drive Elementary ↗ | Elementary | A (A) |
| David Fairchild Elementary ↗ | Elementary | A (A) |
| Coconut Grove Elementary ↗ | Elementary | A (A) |
| Frances S. Tucker K-8 Center ↗ | K–8 | C (C) |
| Auburndale Elementary ↗ | Elementary | B (C) |
| Palmetto Middle ↗ | Middle | A (A) |
| Kinloch Park Middle ↗ | Middle | B (C) |
| Miami Palmetto Senior High ↗ | Senior high | A (A) |
The School Board draws the attendance zones every year, and they can change. As drawn for 2026-27, the zones that cover Coral Gables fall into four groups. The list is a map of zones, not of addresses. The only answer that counts for a given home is the one the district returns for its address and grade: School Finder ↗.
Coral Gables Preparatory Academy or George Washington Carver Elementary, then Ponce de Leon Middle and Coral Gables Senior High.
North of SW 96th Street: Sunset Elementary — located just outside the city limits — then Ponce de Leon Middle and Coral Gables Senior High.
From about SW 96th Street: Pinecrest Elementary, or Howard Drive Elementary in the southernmost part, then Palmetto Middle and Miami Palmetto Senior High.
David Fairchild Elementary on the west, Coconut Grove Elementary and Frances S. Tucker K-8 Center on the east, and Auburndale Elementary with Kinloch Park Middle for a small area north of SW 8th Street.
By application, not by address. Magnet applications are open from October 1 to January 15; when there are more applicants than seats, a random selection decides, and results are released on March 15.
It accepts applications from any address; an accepted student must have a Miami-Dade County address to register. A home in Coral Gables does not reserve a seat. The school is on the University of Miami campus.
It is also by magnet application. Students whose zoned high school is Coral Gables Senior High receive priority in its lottery; entering ninth grade requires, among other conditions, a 2.5 average in each core subject and Algebra I Honors and Physical Science Honors completed.
Florida grades every public school from A to F on the share of possible points it earns on the state's measures. For 2026 the scale is stricter at the top for high schools and combination schools: an A takes 65% of the points. The state published the 2026 grades on July 1, 2026, and its file is dated September 1, 2026; a grade can change on appeal, so the file's date travels with every grade on this page.
The schools a home is zoned to are set by its address, and the zones are drawn again each year. Bring the address you are considering to a consultation.
Spear's Schools Index 2024–2026 — one of 10 named for North America, unranked
Private · North America
Tuition
#12 Elementary School — Florida · U.S. News
Elementary · Florida
Tuition
#6 Private High School — Florida · Niche 2026
Private high · Florida
Tuition
#1 of 39 Catholic High Schools — Florida · Niche 2027
Catholic · Florida
Tuition
Lifestyle infrastructure. The Biltmore Hotel is a National Historic Landmark celebrating its centennial in 2026 — golf, spa, pool, and dining make it the social center of Coral Gables. The Venetian Pool, on the National Register of Historic Places, was carved from coral rock in 1923 and remains the most beautiful public pool in America. Miracle Mile is the main commercial street — restaurants, boutiques, and the Actors' Playhouse — walkable from most of CG proper. Shops at Merrick Park is open-air luxury shopping with Nordstrom, Equinox, Neiman Marcus, and 90+ retailers. Fairchild Tropical Botanic Garden spans 83 acres of tropical plants, rare palms, and flowering trees. Biscayne Bay is reached with no fixed bridge from Gables Estates, Old Cutler Bay, and Tahiti Beach, with a direct connection to the Atlantic via Government Cut.
Private schools and landmarks stand in Coral Gables or close to it: the Biltmore Hotel, the Venetian Pool and the Shops at Merrick Park among the landmarks, and the private schools below, each with its published tuition and the rankings that name it.
This chapter tells you which public schools a Coral Gables address is zoned to: 7 district schools and 1 public charter school stand inside the city, by Miami-Dade County Public Schools. A home's zoned school is set by its address, so check the address, not the city.
Owning a home in Coral Gables costs its property tax — 18.1852 mills in 2025, or $18,185 for every $1 million of taxable value without a homestead exemption — plus two City charges on the same bill, insurance for wind and, across much of the south, for flood, and, inside a guarded district or a condominium, an assessment or an association fee.
An estimate at the adopted millage, before the City's charges on the same bill (solid waste and fire protection) and before the Save Our Homes cap. A home's own tax comes from its assessed value and its exemptions.
Tax a year · 2025 adopted millage
$18,185
$1,515 a month
| Owner | Taxable value · school levies | Taxable value · other levies | Tax a year |
|---|---|---|---|
| Without homestead | $1,000,000 | $1,000,000 | $18,185 |
| With homestead | $975,000 | $949,278 | $17,433 |
The total levy on a Coral Gables parcel was 18.1852 mills for tax year 2025, as adopted: 5.5590 for the City, 6.6330 for the School Board, 4.5740 for Miami-Dade County's operating budget, and the rest for county debt, the library district, The Children's Trust and the regional water and navigation districts. A mill is one dollar per $1,000 of taxable value. Coral Gables runs its own fire department, so its parcels pay no Miami-Dade Fire Rescue District levy.
The purchase resets the assessment. A home is assessed at its just value as of January 1 of the year after the sale — the value the Property Appraiser sets, not necessarily the price paid. The tax a listing shows is the seller's, often held down by years of capped increases; it is not the buyer's next bill.
A primary residence qualifies by filing with the Property Appraiser by March 1: $25,000 off the assessed value for every levy, and a second exemption on the value between $50,000 and $75,000 for levies other than the School Board's — $26,411 in 2026, indexed to inflation each year. In the first year the difference is small. What the exemption buys is the cap that follows it.
Once a home is homesteaded, the yearly rise in its assessed value is limited to 3% or the change in the consumer price index, whichever is lower: 2.7% for 2026, 2.9% for 2025. A property without homestead has its own cap, 10% a year, which does not apply to school levies. An owner who moves from one Florida homestead to another within 3 years can carry up to $500,000 of the accumulated difference to the new home.
Amendment 3, placed on the ballot by the Legislature, would raise the homestead exemption from non-school taxes to $150,000 in 2027 and $250,000 in 2028, indexed after that; keep the school exemption at $25,000; and lower the yearly cap on non-homestead properties from 10% to 5%. It needs 60% of the votes cast to pass. This note is rewritten with the result after the election.
Two City charges are billed per dwelling unit with the property tax for fiscal 2026-27: $601 for solid waste collection ($572 if paid directly to the City by August 15), and a $70 fire protection assessment.
11 security districts, one of them with a street-lighting district on the same parcels, are administered by the City of Coral Gables, which took them over from the County on October 1, 2018. Each is a line on its parcels' tax bill; the rates above were adopted on September 14, 2026, and a vacant lot pays half. Six of the fourteen gated communities are not special taxing districts: Gables Estates, Cocoplum's second section, Tahiti Beach, Deering Bay, Journey's End and Cutler Oaks Estates appear neither in the City's assessment resolutions nor in the County's district map, so their bills carry no district line. Two of the districts overlap on Banyan Drive: the homes of Banyan Lakes pay the Banyan Drive district, and all of them but those on Palm Vista and Banyan Trail also pay the Hammock Lake Banyan district's roving patrol, which every home in Hammock Lakes pays on top of its own district. In Gables Estates, the Gables Estates Club's membership requirement is $100K, according to Julian Acosta.
Outside the gates, almost never: of the 317 single-family homes outside the gated communities sold in the twelve months to September 29, 2026, 4 reported an association; inside the gates, 52 of 72 did. Condominiums are the opposite. Their median association fee was $1,136 a month across 224 sales in the same twelve months, with the middle half between $779 and $1,453.
Miami-Dade and Broward form the Florida Building Code's High-Velocity Hurricane Zone. The state insurance regulator's county averages, on data as of March 31, 2026, are $5,975 a year for a homeowners policy that includes wind and $2,801 for a condominium unit-owner policy that includes wind, in Miami-Dade; the premium actually charged varies with the insurer, the insured value and the deductible. Insurers must offer hurricane deductibles of $500 and 2%, 5%, 10% of the dwelling limit; for dwellings insured between $1M and $3M they may offer 3% instead of 2%, and above $3M they need not offer 2%. A wind-mitigation inspection on the state's form is valid for up to 5 years and is the basis of the mitigation discounts insurers are required to file.
The FEMA flood map in effect is the one of September 11, 2009; the preliminary maps published in 2021 are not in effect. It places zones AE, VE and AH — the Special Flood Hazard Area — inside the city, concentrated along the bay and the canals of the south, while most of the land in the northern part of the city maps as Zone X. Since October 1, 2025, a seller must state before the contract whether the property has flooded during their ownership and whether they have filed a flood claim or received federal flood assistance. The City issues flood-zone determinations and publishes the elevation certificates it holds.
A mortgage backed by the federal government on a building in the Special Flood Hazard Area requires flood insurance. Citizens Property Insurance requires flood coverage as a condition of its policies: in the flood zone since 2023, outside it for dwellings with a replacement cost of $400,000 or more since January 1, 2026, and for every policy from January 1, 2027; condominium unit-owner policies are exempt. Coral Gables takes part in FEMA's Community Rating System at Class 5, which discounts every National Flood Insurance Program policy in the city by 25%, inside the flood zone and outside it.
In Coral Gables, improvements whose combined cost over 5 years reaches 50% of the building's market value count as a substantial improvement, and the building must then meet the flood rules for new construction — among them, a lowest floor at least 1 foot above the base flood elevation. For an older house in the flood zone, that threshold shapes the renovation budget before the purchase.
No public source measures what a Coral Gables house costs to maintain, and this guide prints no figure it cannot source. Three facts decide most of it. The age of the house: outside the gates and north of US-1, the homes sold in the last twelve months have a median year built of 1952; in the lettered sections it is 1938. The review: every exterior alteration goes before the Board of Architects, and a property on the Coral Gables Register of Historic Places needs a certificate of appropriateness. The flood threshold: in the flood zone, work that reaches 50% of the building's value over 5 years brings the rules for new construction with it. In a condominium, the building's upkeep is in the association fee and in its reserves. For a specific house, the number comes from its inspection, before the offer is firm.
Tax, insurance and assessments depend on the home: its assessed value, its flood zone, its district. Ask for the figures of the one you are considering.
This chapter adds up what a Coral Gables home costs each year beyond its price. The property tax was 18.1852 mills in 2025, $18,185 for every $1 million of taxable value before a homestead exemption, by Miami-Dade County's adopted rates. City charges, insurance and any association fee come on top. It frames a yearly budget, not one home's bill.
Florida has no state income tax. For high-income earners relocating from New York, California, or Illinois, this single fact changes the financial calculus of every real estate decision.
| Read | Figure | Source |
|---|---|---|
| Modelled New York State tax saving a year · $1M income · single filer · tax year 2025 · New York City tax not included | $68,500 | Illustration · N.Y. Tax Law § 601, tax year 2025 · Florida levies no personal income tax |
| Documented 10-year appreciation | 121.7% | CORAL GABLES · 2015 Q4 – 2025 Q4 · NEIGHBORHOODSCOUT |
| Annual Income | New York State tax · per year | Florida · per year | Kept over 5 years | Kept over 10 years |
|---|---|---|---|---|
| $500,000 | $34,250 | $0 | $171,250 | $342,500 |
| $1,000,000 | $68,500 | $0 | $342,500 | $685,000 |
| $2,000,000 | $193,000 | $0 | $965,000 | $1,930,000 |
| $5,000,000 | $482,500 | $0 | $2,412,500 | $4,825,000 |
Establishing Florida residency is a process — not a checkbox. Julian works with your tax and legal team to sequence it correctly. Schedule a Consultation ↗
Key insight: A $1M single filer saves $68,500 a year in New York State tax (tax year 2025; New York City tax not included) by establishing Florida residency. On the same model, every month outside Florida costs an earner between $500K and $2M from $2,854 to $16,083 in avoidable state income tax.
This chapter shows what moving from New York to Florida does to a high income. A single filer with $1 million of income owed New York State $68,500 in income tax for 2025, by the State's own rate schedule. Florida levies no personal income tax, by its Constitution. It is a model of one income, not advice on yours.
For relocators evaluating whether to rent first or buy immediately, the numbers below set one against the other, in a market with 121.7% ten-year appreciation and constrained supply.
Buying against renting a townhome in Coral Gables · a month, on one shared scale · new construction rent $22,000: median of 5 closed leases of townhouses built since 2016, 12 months to September 29, 2026, MLS
To own, a month
To rent, a month
| Scenario | Purchase price | To own, a month | To rent, a month | Monthly savings vs renting | 5-yr net wealth advantage |
|---|---|---|---|---|---|
| Entry Townhome | $990,000 | $2,693 | $3,900 | +$1,207 | +$345,939 |
| Mid Townhome | $1,400,000 | $3,315 | $4,900 | +$1,585 | +$481,894 |
| New Construction Townhome | $4,700,000 | $8,315 | $22,000 | +$13,685 | +$2,119,623 |
Each month's cost to own is three things: property tax at 18.1852 mills, the 2025 adopted rate, on the purchase price; insurance at the Miami-Dade average for homeowners and wind, $5,975 a year; and the median townhome association fee of the last 24 months, $695 a month.
Prices are the first quartile and the median of townhome sales closed in the twelve months to Sep 29, 2026, and the new-construction sale at 2615 Anderson Rd. Rents are the townhouse leases closed in the same months, 34 of them: the first quartile, the median, and for new construction the median of the 5 built since 2016.
Five years of appreciation at 5% a year — Coral Gables' actual ten-year figure is 121.7% — plus the rent not paid, less the cost to own. It is counted before financing: mortgage interest and what the purchase money would earn elsewhere are left out, so it is the most a buyer gains, not the typical gain.
The buy-vs-rent math works for most relocators — but your specific situation deserves specific analysis.
This chapter sets the monthly cost of buying a Coral Gables townhome against renting one, in a market where homes appreciated 121.7% over ten years in NeighborhoodScout's index. It shows what renting first costs a relocating buyer, not what your own loan will be.
Coral Gables real estate has compounded at 121.7% over 10 years. These scenarios are illustrations from documented sales and verified appreciation rates. Each represents a real buyer decision.
Key insight: The common thread across all three scenarios is that Coral Gables supply is structurally constrained. The land is built out, zoning prevents densification, and character is legally protected. These are not market conditions — they are permanent structural facts that support long-term value.
These three scenarios follow real Coral Gables purchases from MLS closed sales through the market's 121.7% ten-year appreciation in NeighborhoodScout's index. They show how a purchase has done in this market, not a forecast of what one will do.
The three most common alternatives buyers consider. Each has a distinct value proposition. They are not interchangeable — and the right choice depends entirely on your priorities.
| Metric | Coral Gables | Coconut Grove | Pinecrest |
|---|---|---|---|
| Median Price · Single-Family | $2.2M | $2.8M | $2.76M |
| New Construction $/SF | $1,043 – $1,363 · top $5,863 | $993 – $1,486 · top $2,547 ▲ | $996 – $1,189 · top $1,512 |
| Gated Communities | 14 ▲ | 1–2 small | Limited private enclaves |
| Waterfront Access | No-bridge bay + canal ▲ | Limited bay | None |
| Architecture Control | Legally enforced ▲ | Partial | None |
| Top Private School | Ransom Everglades (Top 10) ▲ | Ransom (nearby) | Gulliver Prep |
| Corporate headquarters and offices | Ryder, Bradesco Bank (HQ); Apple, FIFA, Bacardi USA ▲ | — | — |
| 10-Year Appreciation | 121.7% ▲ | — | 117.5% |
| Walkability | High (Miracle Mile) ▲ | High (CocoWalk) ▲ | Low |
| Lot Sizes | 6,248 – 13,600 SF | 6,250 – 10,500 SF | 16,967 – 38,768 SF ▲ |
This comparison sets Coral Gables beside Coconut Grove and Pinecrest on price, new construction and lot size. Coral Gables has the lowest single-family middle price of the three, $2,200,000 over twelve months, by MLS closed sales. It helps you choose a market, not a home.
Coral Gables real estate has appreciated 121.7% over the past decade — but the trajectory has not been linear. Three distinct phases define the modern market.
Appreciation driven by corporate relocations. The new-construction pipeline begins with Villa Valencia.
Post-COVID domestic migration from New York and California compresses inventory. Prices surge 61% in 24 months. Gables Estates records multiple $30M+ sales.
Homes priced in line with the market sell sooner; overpriced ones sit longer. The market is healthy, not overheated.
For where the market stands this quarter, see the Coral Gables hub →.
This chapter traces how Coral Gables reached its 121.7% ten-year appreciation in NeighborhoodScout's index, phase by phase, with MLS closed sales for each year. It explains how the market moved, and the hub's snapshot shows where it stands this quarter.
The same market data that informs buyers tells sellers everything they need to know about timing, pricing, and realistic expectations. Coral Gables favors the seller slightly: in the twelve months to September 30, 2026, single-family homes closed at a median of 94.3% of their last list price after 48 days, by MLS closed sales.
Read the Coral Gables sellers guide →
These numbers tell a Coral Gables seller where a house lands. In the twelve months to September 30, 2026, single-family homes closed at 94.3% of their last list price for the sale in the middle, after 48 days, by MLS closed sales. They describe the market's sales, not what one home will fetch.
One of my offices is on Sunset Drive, in Coral Gables. What this city offers is a place built to a plan and kept to it: the streets, the gates, the water, and the rules on what a house may become. That is also why one price says so little here. A house in a lettered section, one behind a gate and one on open water are three different markets. When you buy or sell here, I read which one yours is, from the closed sales and the County's record, and I show you every number I use.
Julian Acosta is a real estate agent with Compass in Coral Gables, with 13 years in the Miami market. His team has sales in the County's record in five of Coral Gables' gated communities: Gables Estates, Cocoplum, Snapper Creek Lakes, Hammock Lakes and Banyan Lakes. Each community's page gives the address and the date.
Not every home reaches the public market. Compass, the brokerage Julian Acosta works with, describes its program in its own words: "With Compass Private Exclusives, you can view homes for sale that are not on the market."
In two decades in real estate, I've watched what makes the difference between a buyer who gets the right property and a buyer who waits two years for the wrong one. It is rarely budget. It is access to the inventory you cannot find on a public site, and a clear read on what each community actually trades at.
Julian Acosta, Luxury Real Estate Advisor, Compass
Enter your address. The page finds your home in the public record and reads the closed sales nearest it.
An estimate by Julian Acosta from MLS closed sales and the Miami-Dade County record; not an appraisal. How it works →
Would you rather have Julian do it for you? He answers within one business day. Write to Julian →
About this page. Data on this page comes from Julian Acosta's first-party transactional knowledge, Miami-Dade County Public Records, the Zillow Home Value Index, MLS closed sales (Compass, first-party), and the third-party sources named where they are cited. Documented sales reflect Miami-Dade County recorded transactions; the appreciation index reflects 2015–2025.
This page presents market analysis based on Miami-Dade County Public Records, the Zillow Home Value Index, MLS closed sales (Compass, first-party), and the first-party transactional knowledge of Julian Acosta. It does not constitute a certified appraisal, legal advice, or investment recommendation. All value estimates and market characterizations are informational opinions; the reader retains full responsibility for any purchase or sale decision. Fair Housing and Equal Housing Opportunity disclosures appear in the site footer.