Gulf Stream wasfounded around 1916, and throughout the early 1920s, theplanned community centered around the Gulf Stream County Club.[1][2] The name of the town comes from its location on theGulf Stream, a warmAtlantic Ocean current.[8] Bessemer Properties, areal estatebusiness venture controlled by the family ofHenry Phipps, Jr., was responsible for creating the community that was briefly named after him,Phipps Beach, before it was ultimately renamed theTown of Gulf Stream when it was officially incorporated as a municipality in 1925.[1][2][3][4]
According to theUnited States Census Bureau, the town has a total area of 0.9 square miles (2.3 km2), of which 0.8 square miles (2.1 km2) is land and 0.1 square miles (0.26 km2) (9.64%) is water.
As of thecensus[6] of 2000, there were 716 people, 340 households, and 222 families residing in the town. The population density was 953.7 inhabitants per square mile (368.2/km2). There were 625 housing units at an average density of 832.5 per square mile (321.4/km2). The racial makeup of the town was 95.39%White (93.2% wereNon-Hispanic White),[16] 0.98%African American, 0.14%Native American, 1.40%Asian, 1.12% fromother races, and 0.98% from two or more races.Hispanic orLatino of any race were 2.93% of the population.
In 2000, there were 340 households, out of which 16.2% had children under the age of 18 living with them, 60.6% weremarried couples living together, 1.8% had a female householder with no husband present, and 34.7% were non-families. 28.8% of all households were made up of individuals, and 18.2% had someone living alone who was 65 years of age or older. The average household size was 2.11 and the average family size was 2.55.
In 2000, in the town, the population was spread out, with 14.9% under the age of 18, 1.7% from 18 to 24, 15.6% from 25 to 44, 29.7% from 45 to 64, and 38.0% who were 65 years of age or older. The median age was 56 years. For every 100 females, there were 93.5 males. For every 100 females age 18 and over, there were 89.1 males.
In 2000, the median income for a household in the town was $146,985, and the median income for a family was $186,777. Males had a median income of $78,045 versus $40,625 for females. Theper capita income for the town was $133,651. About 2.5% of families and 2.5% of the population were below thepoverty line, none under age 18 and just 1.7% of those age 65 or over.
Gulf Stream School, a private co-educational school located in Gulf Stream, was founded in 1938. The school serves students from pre-K through eighth grade.[18]