Stable and rising property values on single-family homes, a large availability of condos for sale, and diverse neighborhoods paired with great weather and proximity to white sand beaches make Miami a hot spot for both new and established home buyers. Each Miami neighborhood and suburb offers a little something different, but these five top the list for the best places to buy a home in Miami:
- Coconut Grove
- Coral Gables
- Miami Beach
- Home Price: $310,300 median purchase price
- Owner-Occupied Households: 65.1%
- Crime Rate: Safer than 26% of the cities in the U.S.
A waterfront view, lively clubs, and a major mall make Aventura one of the best neighborhoods to live in Miami. While most properties on the water hit your wallet hard, Aventura has a wide range of options for your budget and lifestyle. Due to Aventura’s over-development, it’s easy to find single-family homes and condominiums for sale among the mix of grand estates.
What to Do
If you love shopping, this is one of the best Miami suburbs for you to call home! Aventura Mall is one of the largest malls in the U.S. and features three floors of luxury shopping and unique cuisine. Seasonal movie nights, yoga, and fitness bootcamps can be found at Founders Park, as can miles of trails, a community garden, and a splash ground! Want to practice your swing? Though Turnberry Isle Miami is a luxurious resort getaway for tourists, golf-loving locals can also play a round at this top-ranking golf resort.
- Home Price: $592,500 median purchase price
- Owner-Occupied Households: 54.4%
- Crime Rate: Safer than 61% of the cities in the U.S.
Known as Miami’s original neighborhood, Coconut Grove is one of the best places in Florida to buy a single-family home. Along with a stable real estate market, the area boasts great schools and is one of the safest neighborhoods in Miami. Low unemployment and great amenities nearby make buying property here even more desirable. Despite its prime location near the center of Miami, the Grove boasts a peaceful energy and more walkability than similar areas.
What to Do
When you’re not enjoying the bright vegetation or watching peacocks roam the streets, you can head to Biscayne Bay for sailing adventures. Try weekly free yoga at Peacock Park, or catch live music on Fuller Street during the summer concert series. Stroll among the trees or watch a movie screening at The Barnacle Historic State Park. The great weather year-round means you can grab dinner and drinks on the patio at Lulu in the Grove before stopping by Bianco Gelato for a tasty treat!
- Home Price: $696,000 median purchase price
- Owner-Occupied Households: 62.7%
- Crime Rate: Safer than 43% of the cities in the U.S.
If you’re a family searching for the best places to live in South Florida, look no further than Coral Gables! Only 20 minutes from Downtown Miami, it’s almost totally removed from the hustle and bustle of city life. The prominence of Mediterranean Revival architecture makes living here feel closer to a walkable European city than a Florida metropolis. Banyan trees and biker-friendly streets are another big draw for residents. And with strict zoning laws, it’s easy to see why this is such a hot spot for home buyers.
“The overall atmosphere is magical,” said Edgar Escorcia, a real estate agent for Lifestyle International Realty. “A walk in the park or just on the sidewalk of any of its streets will transport you back to the Spanish Renaissance. Homes in this neighborhood are something out of a fairytale.”
What to Do
While the area is known to attract families, being home to the University of Miami helps keep the Coral Gables young and vibrant. Discover arthouse films at Cosford Cinema or unique exhibitions at the Lowe Art Museum. More galleries, culture, and endless places to wine and dine can be found on the Miracle Mile. This street downtown merges the business and arts districts and is host to farmers markets, live music, and opportunities to meet famous authors at Books & Books. Residents can make the most of the great weather with a visit to the one-of-a-kind Venetian Pool or beautiful Fairchild Tropical Botanic Garden.
- Home Price: $141,300 median purchase price
- Owner-Occupied Households: 38.1%
- Crime Rate: Safer than 3% of the cities in the U.S.
About 50 minutes south of the heart of downtown, Homestead offers a more affordable solution to buying a home in Miami. Because its home property values so closely match residents’ household incomes, the Miami-Dade Real Estate Study actually named Homestead the most undervalued neighborhood in Miami. While the local economy is built strongly on agriculture, Homestead Hospital helps keep unemployment low.
As Miami runs out of space for new housing, builders are moving south. While many Miami natives are hesitant of longer commutes, Escorcia said this makes for a booming buyer’s market in Homestead. “Developers are also offering aggressive incentives to potential buyers to encourage them. In short, low prices coupled with attractive incentives and brand new housing make for a very irresistible proposition.”
What to Do
Nature lovers will be in heaven! Head 20 minutes east to Biscayne National Park, where locals and tourists can camp, boat, snorkel, and experience other adventures on the water. Or drive 20 minutes southwest of Homestead to check out Everglades National Park, home to the largest subtropical wilderness in the U.S. NASCAR fans will love the proximity to the Homestead-Miami Speedway. Spend the afternoon or evening exploring the historic downtown or catching a show at the restored Seminole Theatre!
- Home Price: $398,600 median purchase price
- Owner-Occupied Households: 37.2%
- Crime Rate: Safer than 1% of the cities in the U.S.
Vacation never has to end for residents of Miami Beach! This popular travel destination is also one of the best areas to invest in property in Miami. The stable real estate market around luxury condos is why so many individuals purchase second and third homes here. Being surrounded by water offers an amazing view for homeowners and keeps property values high, and a booming arts scene makes Miami Beach a prominent place for young professionals, retirees, and empty nesters to buy property.
“When people think of Miami, they’re thinking of Miami Beach,” said Josh Stein, a Miami Beach realtor. “People love the art deco feel because the buildings are boutique. They’re not just a high rise in the sky; they’re quirky and unique.”
What to Do
Between vintage cars and people on rollerblades, there’s no shortage of people-watching to be had in this diverse Miami community. Enjoy the saltwater, pack a picnic, or fly a kite at Haulover Beach Park. Catch free music every week at Friday Night Live at Normandy Fountain. Learn about Florida’s natural flora at the Miami Beach Botanical Garden. While there might be some debate with Tampa over where the Cuban sandwich originated, you can always grab a delicious one at Puerto Sagua.
Are you moving to Miami soon? With several storage facilities throughout the Miami metro, Extra Space Storage will help your move go as smoothly as possible. Find a storage unit near you!