What does it really take to be considered upper class in Florida? Financial experts point to net worth as the clearest measure. With a large retiree population and a steady influx of wealthy newcomers, Florida has its own bar for what it means to belong to the upper class.

“While income may matter at times, particularly for working professionals, income often does not describe lifestyle or financial resilience,” said Jared Kessler, founder of ForexBroker.Tips. “A person may earn six figures, but may not have the assets or investments to provide upper-class stability.”

Kessler advises clients on wealth building and financial strategy. He said net worth built through property, investments and savings is the clearest measure of financial standing, and in Florida’s mix of retirees and wealthy newcomers, that standard is especially true.

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According to Kessler, most Florida households considered upper class fall into the $2 million to $4 million net worth range. That amount typically reflects the ability to own desirable property, cover lifestyle costs and ride out market swings without financial strain.

In some of the state’s most exclusive areas (including Miami, Palm Beach and Naples) the bar is significantly higher. “The entry point in those markets is often closer to $5 million to $10 million, reflecting the demand for premium homes and services,” Kessler said.

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Housing is the cornerstone of wealth for many families. Federal Reserve survey data shows that a home is often one of the largest assets families own, which means appreciating real estate can have an outsized effect on household net worth.

In coastal areas such as Miami, Palm Beach and Naples, home prices are far higher than the state average. According to the Miami Association of Realtors, the median single-family home price in Miami-Dade County recently reached $675,000. Luxury properties in these markets regularly sell for several million dollars. Owning and maintaining that kind of real estate requires a level of wealth that goes far beyond income, raising the bar for what it means to be considered upper class in Florida.

Migration has also pushed the bar higher. Affluent households moving from states like New York and California bring higher expectations for housing, schools and services. As Kessler explained, “New residents bring higher expectations for housing and lifestyle, which raises the overall threshold of what it means to be upper class.”