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I've lived in Miami for over 20 years - these are the best neighborhoods to live in right now

Mar 23, 2018, 23:57 IST

littlenySTOCK/Shutterstock

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  • Miami is home to many diverse neighborhoods and over 2.5 million people.
  • Miami's downtown area is best for young professionals who rent, while those looking to buy could get the best value in Aventura.
  • With low crime rates and a number of parks and schools, the historic seaside village of Coconut Grove is ideal for families.

Miami is the nation's juggernaut for year-round sunshine, raging nightclubs, and Cuban sandwiches. It's a city continually ranked among the globe's leading travel destinations and is known as a tropical playground for the rich.

But beyond Miami's association with South Beach, nearly 2.5 million people call the city home. There's a place for everyone, with pockets of culture like Coconut Grove, Little Havana, and Wynwood. It also boasts a booming restaurant industry and seemingly non-stop luxury development.

But living here doesn't come cheap. Miami renters are some of the most cost-burdened in the country, spending more than 30% of their income on housing. The median rent here is about $1,800 per month.

As someone who's lived in Miami for more than two decades, I've watched this unique part of the country grow leaps and bounds. A decade ago, roaming Wynwood, Midtown, or Brickell was out of the question. Today, they're among the hottest neighborhoods.

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While I'm certain other areas will spike in popularity soon, here are the city's best right now.

Miami's urban core is great for young professionals

For recent grads and young professionals, Miami's urban core is where it's at. Made up of edgy neighborhoods like Wynwood, Midtown, Brickell, and Downtown, construction here has grown 66% since 2010, surpassing other major cities like San Francisco, D.C., and even Los Angeles.

There's a host of newly developed offices and apartment buildings, as well as a multitude of restaurants, bars and other spots to hang. You'll get a bustling city feel with the beach a short car ride away.

One-bedroom apartments here start at around $1,200 a month, but it's worth it if you work in the area (with a moderately high-paying job) — especially if you can walk to your office and avoid Miami's gridlock.

Coconut Grove is the best neighborhood to raise a family

There's a lot of charm packed into this seaside village. Though Coconut Grove is Miami's oldest neighborhood, living here will make you forget you're even in the Magic City. Roaming peacocks, massive aged oak trees, and parks aplenty, this part of Dade County is one of the most peaceful. It's got great schools, gorgeous single family homes, a budding restaurant and arts scene — and low crime rates. Compared to other areas, it's also pretty walkable and bike friendly.

But all this charm doesn't come cheap: The current median home value is over $627,000, and rental costs for one-bedroom apartments start at $1,350.

The best place to buy property is Aventura

Miami is not the most cost-friendly in the country. But if you're set on owning property, try Aventura. At the time of publication, the median price of homes on the market was about $425,000, while the average sold price is just above $317,100. Right now, Zillow lists the suburban city as "Cold," which means it favors buyers versus sellers.

As someone who lived in Aventura for more than a decade, I can attest to its appeal. It's only about a 10-mile drive from Miami's urban core, is conveniently located to Miami's interstate highway, I-95, and falls in the center of major hubs like Miami Beach, Downtown, and Fort Lauderdale to the north.

The city is also home to the Aventura Mall, which recently underwent a multimillion-dollar expansion, adding a slate of luxury shops including Louis Vuitton, Givenchy, and Tesla, along with a handful of restaurants and a gourmet food hall.

Miami Beach: Where vacation never ends

This list would be incomplete without a mention of Miami Beach. And interestingly enough, despite rising seas and an increase in major flooding events, the housing market continues to improve. A blend of modest homes and mega waterfront mansions, Miami Beach is South Florida's epitome of paradise — and the cost of renting a one-bedroom starts at $950 a month.

Replete with hotels, restaurants, beaches, Art Deco, and nightlife, Miami Beach has got no shortage of things to do. Even for those who call this place home (including myself), this area of Miami has a unique way of feeling like a getaway.

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