Miami is a perfect city for many millennials out there. Because of its amazing opportunities, and lifestyle. Miami is a city of entertainment and many job opportunities. It’s just a place where there is something for everyone! And now millennials in Miami are purchasing more homes than any other generation. Why is that? Well, keep on reading!
Why are millennials moving to Miami?
Millennials put off buying their first home as they struggled with the aftereffects of the Great Recession. Now that they’re snapping up houses in greater numbers, and many older millennials are making up for lost time. They’re bypassing the traditional gateway to homeownership and buying larger, more expensive houses where they’re likely to raise families and maybe even grow old.
Miami is a great place for millennials because there are a lot of universities. The wide variety of educational institutions that students can choose from here gives millennials lots of options for their future. These schools are just a few minutes away from the beach that makes them even more appealing. For those millennials who love history and architecture, Miami is the perfect place to move to. The different architectural styles of the buildings here show you just how much the city has changed over the years.
Best neighborhoods for millennials in Miami
Millennials have been gaining a lot of attention in recent years due, in part, to their sheer numbers. Generally defined as the group of people born between 1981-1996 (22-37 years old). Demographic research also observes the jobs millennials work in and the areas where they’re living. Here are the Miami neighborhoods that millennial homebuyers are choosing to call home.
Miami’s downtown Brickell neighborhood offers more than just the typical Cuban sandwiches. Brickell is situated in the heart of the Downtown Miami area. And it provides easy access to jobs, restaurants, and retail shops—all within walking distance. It’s one of the few neighborhoods in the city where not owning a car is a realistic possibility thanks to public transportation options.
As the oldest neighborhood in Miami, Coconut Grove’s serene bayside community has a number of attractions for young professionals. It has several charming open-air parks, high-rated cafes, and independent boutiques. Coconut Grove used to be viewed more like a neighborhood for retirees, but in recent times that perception has changed. Now, with a bustling downtown area with plenty of restaurants and bars, it’s attracting a younger crowd. Located along the water but still a short distance from Downtown, it provides scenic views and some distance from the chaos and noise of urban life. One of the most popular events held on President’s Day weekend is the Coconut Grove Art Festival. It brings hundreds of artists and thousands of visitors to the neighborhood each year. All this comes with a high price tag, however. The median home price is $700,000, and homes located along the ocean are priced over $5 million.
Millennials with families have been flocking to Downtown Miami in much greater numbers than in previous times. The result has been an influx of residential communities with kid-friendly amenities and a push by the city to build more schools to accommodate the added number of children. You’ll never run out of things to see and do at Downtown Miami, thanks to its ever-increasing number of parks, shops, bayside boutiques and bars, cafes, and museums. It’s also in a prime location and is a perfect venue for concerts and other huge events that many young professionals are sure to support.
Every city has its hipster enclaves, and in Miami, Wynwood is one of them. A former warehouse and manufacturing district, this neighborhood is perfect for artists, entrepreneurs, and now millennials. One of its most popular features is the Wynwood Walls. Also, the neighborhood is a home to many art galleries, studios, and museums. Young professionals who enjoy beer and arts can find a lot to enjoy at the Wynwood Art District.
This is a great place for those who want to be close enough to the hip and happening nightspots of South Beach. And to be far enough to enjoy peace and tranquility when they need it. SoFi is one of the up-and-coming addresses in Miami. While considered a luxury neighborhood, there are actually rental units here that fit the thrifty millennial’s budget. Home sharing among friends is actually a great way to live in style here while still staying within budget.
Miami Beach is a strong choice for people of all ages, including millennials. The vibrant area combines a beach lifestyle along with the convenience of urban amenities. You also have many neighborhoods within Miami Beach to choose from, depending on your preferences and budget. South Beach is a known tourist destination, with plenty of nightlife and entertainment options. When it comes to buying a beach home in this area prices are higher than in other parts of the city, and parking is very limited. North Beach is a more affordable option when compared to South Beach and Mid-Beach, with a median sale price for homes at $255,000.
Millennials in Miami knows how to party!
It has been known to be one of the best places to go to when college students are in the mood for some serious partying. Partying here does not happen just during spring break. With millennials in Miami who celebrating whatever special event they can with friends at the many nightclubs and bars.
Conclusion about millennials in Miami
Millennials in Miami love meeting and mingling with people from all walks of life. And that’s why there is no better place to do that than Miami. Where the variety of cultures gets you to meet individuals from all walks of life. Here you will find people from South America, Europe, South Africa, Asia, and just about anywhere. Also, here is a strong Latino presence as well as a lot of people from the islands near this part of the US. In Miami, you can find different cultures where people from all walks of life find themselves living in harmony on the beach and under the tropical sun.