New data is revealing the most expensive neighborhood in the U.S. – and it’s not Beverly Hills.

Real estate company Zillow released its home value data over the last 12 months. Its index is "designed to capture the value of a typical property across the nation or the neighborhood," its website states, by using metrics such as sales transactions, tax assessments, public records, square footage and location.

Most expensive neighborhood is in Coral Gables, Florida

According to the data, Gables Estates, a small gated community located in Coral Gables, Florida, is the most expensive neighborhood.

The neighborhood topped Beverly Hills, California, long regarded as the pinnacle ZIP code of wealth.

Gables Estates is an exclusive waterfront community that features mansions and a canal syste

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