Finding an ideal real estate in Miami isn’t the easiest thing to do lately, and to add salt to the wound, there are many different factors that make moving to Miami that much harder: being able to afford the actual price of housing; choosing the right part of the town, with good school districts; fun things to do during the weekend; being safe; having a pleasant view… Now I don’t know about you, but this sure does make me dizzy, and I’ve only stated a few things. As all of you experienced movers know, there are some factors we always manage to overlook, but on the other hand, there are always some adjustments and compromises that need to be made, in efforts to end up with the closes thing we believe we want. Seeing how we know what kind of a struggle you’re going through, let us help you with finding the best place to live in Miami along with your Miami dreamhouse.
When it comes to living in Miami it certainly isn’t one of the best options, if you’re super concerned with the budget. But, the thing that the recent statistics is telling us is that with the average living cost which is about 20% higher than the average living cost for the whole US, and with the unemployment rate which is as low as about 5.20%, a simple conclusion can be made that while it might be a fairly expensive place to live in, with the right dedication and hard work, it is not impossible to make Miami your home. Let’s take a look at the housing prices in Miami, from low to high, divided according to boroughs. The first section we’ll be going through is if you would like to rent a home.
For a single bedroom apartment, the monthly rent in Miami varies from as low as $700/month, all the way up to $2.500/month.
- Brownsville, Liberty City, Gladeview and Pinewood Park are amongst the cheapest neighborhoods you can possible find, with the prices varying from $600-$750/month. Having said that, you might want to consider saving up a bit more, because although the low rent prices per month, these places are all land-locked, and do not offer a variety of activities as some of the other places do, for a few hundred bucks more. But still, that doesn’t mean that you should cross them off the list, simply try to see what your alternatives are.
- If you’re the type of person that feels comfortable with a monthly rent ranging from $900-$1.500, these next few places will be ideal for you. Some of them are: Little Haiti, Riviera, Allapattah, Gables Estates and Hammock Oaks. Most of these, again, are land-locked, except for the Gables Estates and Hammock Oaks which do not go over one and a half grand per month, and you get to live on a sea-side as well!
- In case you feel like paying anywhere between $1.500 and $2.500 per month – well, you’re all settled. With the majority of neighborhoods in this range being at the sea-side, you’ll find as much joy in going to work every morning, as you will in enjoying the day-off, next to your house. Some of the places include: Miami Shore, Upper East Side, Ocean Front, Bay Shore, and a lot of others. Of course, some of these tend to be the really high-end neighborhoods, with golf courts, and high-fashion world, right around the corner.
- For those of you who feel like spending over $2.500/month is nothing, you sure will enjoy the trendiest, and the most lavish neighborhoods in Miami, with some which are land-locked, but do offer a lot of compensation in return. Those places are: Country Club Section, Village of Key Biscayne, Wynwood, City Center, and of course, Fisher Island. Fisher Island is the most expensive place, because it’s – as the name itself says – an island. Even though it’s the most expensive to be renting property there, it’s also the place with the highest per capita income in the United States.
This concludes the renting section of this post. Now, I’m sure everyone was able to find what they like, but I would still recommend being cautious. Why? Well, simply because there are a lot of little, important things, which you won’t always find in the statistics. For example, if you have children, make sure that before choosing your neighborhood in Miami, you first look up the nice school districts where your kids would like to go. And don’t worry if it’s a bit remote – Miami has a great transportation system within the city, and even connects to Keys! After finding the suitable school district, move on to looking up all of the traits and characteristics your home should own – being close to the gym, having a pool, if you’re more into arts or maybe fashion or even sports… All of these might seem like small things, but once you actually move, and after the first month passes in order for things to kick in, you do not want to find yourself awake late at night, wondering if you’ve made the right decision. That’s why making a good plan is half a job well done!
Good luck planning, and stick with us for more info on buying real estate in Miami. Cheers!