Best Neighborhoods in Miami to Buy a House or Invest In

Updated: November 29, 2024

dWant to know the best neighborhoods in Miami to either live or invest in? You’ve come to the right place! There are many good reasons that more and more people are looking to buy, rent, sell or invest in property in Miami's real estate market. The diversity of the coastal area offers a wide range of different residential and commercial buildings, but also a wealth of amenities.

Investors and home buyers from all over the world rush into Miami neighborhoods for their luxurious, historical, urban, chic, and serene atmosphere.

These are some of the best neighborhoods in Miami- whether you’re looking to live or to invest:

Introduction to Miami’s Neighborhoods

Miami, a vibrant and diverse city in South Florida, is known for its rich cultural heritage, stunning beaches, and thriving real estate market. With a wide range of neighborhoods to choose from, each with its unique character and charm, Miami offers something for everyone. From the bustling streets of Downtown Miami to the sun-kissed beaches of Miami Beach, the city’s neighborhoods are a reflection of its eclectic and cosmopolitan vibe. Whether you’re drawn to the luxurious condos of South Beach or the serene, family-friendly atmosphere of Coral Gables, Miami’s real estate market is as dynamic as the city itself. In this article, we will explore the best neighborhoods to invest in Miami, highlighting their unique features, advantages, and potential for growth.

Miami Beach 

Miami Beach is a popular Miami-Dade County neighborhood and one of the top tourist destinations in the U.S. The place is rich in history and culture. The Art Deco Historic District of Miami Beach is famous for its remarkable architecture and listed in the National Register of Historic Places.

The neighborhood has an abundance of restaurants, shopping centers, night clubs, and many other entertainment centers.

Miami Beach students attend Miami-Dade County Public Schools, but the city also has prestigious private schools.

Miami Beach is also known for its lucrative rental properties, attracting both short-term and long-term tenants due to its vibrant lifestyle and tourist appeal.

The average price per SF ranges from $1,791 for single family houses, and $990 for a condo.

South of Fifth 

South of Fifth is among the most exclusive Miami neighborhoods, and it houses some of the most beautiful condos in all South Florida. Some of the most remarkable lux condo towers are in SoFi, as well as some of Florida’s most chic hotspots. Residents enjoy theaters, orchestras, historic restaurants, live music, galleries, and various festivals nearby.

South of Fifth is a prime location for property investment, offering some of the most luxurious condos and high-end amenities in Miami.

There aren’t any K-12 schools in SoFi, public or private. Children who live in the neighborhood attend South Pointe Elementary, Nautilus Middle School, and Miami Beach Senior High School.

The average sales price per SF for condos is $ 1,500.

Browse South of Fifth homes for sale

Fisher Island 

Fisher Island is famous for its exclusivity, tranquility, and elegance. This tropical oasis was once a piece of land in the Biscayne Bay covered in coconut palms and mangroves. It is now known as a secretive, expensive tropical paradise for investors and vacationers, especially those looking for uncompromised privacy.

Being one of the most expensive neighborhoods in Miami, Fisher Island offers an exquisite island retreat for those looking for a complete luxury club experience. Property owners on Fisher Island enjoy unparalleled privacy and luxury, making it a highly sought-after location for high-net-worth individuals.

Students from Fisher Island may attend Fisher Island Day School, an exclusive private school for children from kindergarten to 5th grade.

Fisher Island condos cater to the wealthiest part of society with average price per SF of $2,500.

Browse Fisher Island homes for sale

Key Biscayne 

Key Biscayne is one of the best neighborhoods in Miami to buy a house if you’re looking for a quiet, breezy place with golden sand beaches. Its low-key vibe and rich natural beauty are appreciated by investors and residents, making Key Biscayne a perfect Miami neighborhood for many of them. Key Biscayne offers a variety of residential properties, from upscale condos to charming single-family homes, making it a versatile choice for homebuyers.

The island is home to most of the establishments and centers residents need, such as parks, recreation and entertainment centers, small charming boutiques, and restaurants with fresh seafood.

Key Biscayne students may attend Miami-Dade County Public Schools with a K-8 center in the neighborhood, and a high school just a couple of minutes away.

You can buy upscale condo units at an average of $1400 per SF in Key Biscayne.

Browse Key Biscayne homes for sale

Coral Gables 

Coral Gables is one of the safest neighborhoods in Miami, with 64 percent fewer crimes than the rest of the state. It's a fully planned community with strict residential zoning, known for being protective over its historical landmarks. The neighborhood is also rapidly evolving into an important center for international business. 

Coral Gables has a remarkable line up of schools and a wealth of activities for families, making it one of the best places to live in Miami. 

The average price of a single family home is $704 per SF. 

Browse Coral Gables homes for sale

Coconut Grove 

Coconut Grove is one of the best neighborhoods in Miami for families famous for its serenity, rich history, and many family-oriented activities. It is one of the safest neighborhoods as well, with crime rates 60 percent lower than the rest of Miami. 

Children from Coconut Grove Miami can attend Coconut Grove Elementary School. The high-caliber school district of the neighborhood features some of Miami's most prestigious private schools.  Like Carrollton School of the Sacred Heart and Ransom Everglades.

If you're interested in homes for sale in Coconut Grove Florida, the average price per SF for a single family home is $988 and for a condo is $1,298.  

Browse Coconut Grove homes for sale

Aventura 

Aventura means "adventure" in Spanish, and this neighborhood is true to its name. As one of the most fun Miami neighborhoods, Aventura features the famous Aventura mall, various commercial centers, and numerous parks. 

Aventura is famous for its luxurious high rises, beautiful beaches nearby, and exciting entertainment as well as commercial establishments. 

Students from Aventura may attend the Waterways K-8 Center or the Aventura City of Excellence School.

The average price per SF for a condo in this fun, charming neighborhood is $420

Browse Aventura homes for sale

Sunny Isles 

Sunny Isles is one of the best places to live in Miami for families. This gorgeous tropical island stands between the Atlantic Ocean and the Intercoastal Waterways. The exquisite white sand and warm ocean in Sunny Isles make this coastal community one of the most desirable places to live for many families.

Sunny Isles is conveniently located near North Miami Beach, offering residents easy access to additional amenities and attractions.

Proclaimed as Florida’s Riviera, Sunny Isles’ offers a casual, relaxed life to its multi-cultural residents.

Students from the neighborhood are under the jurisdiction of Miami-Dade County Public Schools.

The average price per SF for condos in Sunny Isles Beach is $898.

Browse Sunny Isles Beach homes for sale

Bal Harbour 

If you're looking for a luxurious, exclusive Miami neighborhood, famous for millionaire residents and chic shops, you should look into Bal Harbour. Celebrities and wealthy investors are attracted by the intimate atmosphere in the neighborhood, making it one of the most desirable places to live in for high-end society. 

Bal Harbour is one of the safest neighborhoods in Miami and a wonderful place for families. It offers everything a family needs, including prestige schools, abundant shopping centers, and breathtaking beaches. 

Students from the area fall under the Miami-Dade County Public Schools jurisdiction. 

The average estimated price per SF for a condo is $1,273. 

Browse Bal Harbour homes for sale

Downtown Miami

Downtown Miami is the commercial, financial, and cultural center of South Florida. The urban neighborhood is always alive, with numerous activities and businesses continuously attracting wealthy investors looking to enhance their real estate portfolio. 

The modern neighborhood is close to all the conveniences a family or a single resident may need, including education centers, banks, private and government establishments, major museums, shops, and theaters. 

Downtown Miami students are zoned depending on their neighborhood – those from Brickell go to Southside Elementary School, and students from the Central Business District may attend Riverside Elementary School.

The average price per SF in Downtown Miami for a single family home is $438 and for a condo is $448. palm

Browse Downtown Miami homes for sale

Brickell 

Brickell is a rapidly evolving urban Miami neighborhood. Proclaimed as Miami's Wall Street by Forbes magazine, Brickell is one of the top neighborhoods in the area attracting young and established professionals. A large number of Brickell residents are wealthy individuals working in trade and finance. 

Brickell homes some of the most popular Miami shops, entertainment centers, and lux restaurants. With a rich assortment of museums, sporting establishments, and theaters, Brickell residents have many places to visit. 

Students from Brickell attend prestigious schools like Mater Brickell Preparatory Academy and Southside Elementary School. 

The average price per SF in Brickell is $724.

Edgewater 

Located south of Upper Eastside and north of Downtown Miami, Edgewater is quickly becoming one of the best neighborhoods in Miami to buy a house. Edgewater's rapid developments and the neighborhood's proximity to Miami's financial district put it in the top list for investors and home buyers. 

Edgewater has a wealth of historic 20th-century homes, but also many redevelopments. Mid-size construction and high-rise buildings bring a dash of the urban spirit to the area. Homes in Edgewater vary in size and exclusivity. From bungalows to gorgeous multi-store complexes, the variety of available homes for sale is abundant. 

Most students from Edgewater attend Indian River Elementary School and Edgewater Public School.

The average price per SF of a condo is $720.

Browse Edgewater homes for sale

Wynwood 

Wynwood, one of the most hip neighborhoods in Miami, is perfect for the tech and art crowds. What makes it one of the best areas in Miami is that it has incredible growth opportunities with a focus on shared living, open lofts, open space office environments, exclusive fashion groups, and their fashion-related crown, chic restaurants and cool galleries. 

The Wynwood Fashion District and the Art District provide unique atmospheres, and residents enjoy the diversity offered by the neighborhood. Its urban charm and abundance of events draw many people in, often keeping them in Wynwood for a long time. 

The Wynwood area is home to many reputable private and public schools available for students from the neighborhood. 

The price per SF of a Wynwood condo is $697.

Design District 

Design District is the hippest neighborhood in Miami, famous for its chic urban style that attracts creative people of various lifestyles. From décor showrooms to art galleries and fine fashion boutiques, the urban spirit is evident in every corner of the Design District.   

The Institute of Contemporary Art (ICA) is a part of the Design District, and it attracts many contemporary artists to the area. 

Design District students attend Miami-Dade County Public Schools. 

The average sales price for a Design District condo is $920

Buena Vista 

South of Little Haiti and north of Wynwood, you will wind the charming community of Buena Vista. The neighborhood is popular for its majestic Victorian homes, many of which have been converted to convenient condo residencies. 

The preservation of old homes makes Buena Vista a very interesting neighborhood with a strong sense of history felt in the streets of this charming area. Many old-fashioned homes in Buena Vista were built in the 1920s, and they still look as incredible as they used to back then. 

Being a family-friendly community, Buena Vista homes many schools for educating children from kindergarten to senior high school. 

The average price per SF is $431.

Browse Buena Vista homes for sale

Miami Gardens 

If you're looking for beautiful yet affordable places to live in Miami, the Gardens may be the right choice. Miami Gardens is a middle-class suburban community with a predominantly African American population.  

Miami Gardens has a large collection of gorgeous houses and many interesting activities for residents. The neighborhood has a Hard Rock Stadium that welcomes the football team of the University of Miami, the Dolphins. It also serves as a home to the University of Miami Hurricanes football team, and it organizes the annual Orange Bowl College Football manifestation. 

Miami gardens students may attend the Miami-Dade County Public School District, with many high schools close to the neighborhood. 

The average price per SF is $347.

Browse Miami Gardens homes for sale

Upper East Side 

Often called Northeast Miami, Upper Eastside is located north of Edgewater on Biscayne Bay. The neighborhood is a collection of beautiful subdivisions known for being exclusively residential. Considered as one of the best places to retire in Miami by many, but also one of the best places for families and singles, Upper Eastside offers security, privacy, and lush surroundings. 

The households that are admitted to the waterways own the streets of Upper Eastside, and only residents and their guests can gain access to the roads. 

Students of Upper Eastside attend several Miami-Dade County Public Schools, including elementary, middle, and senior high schools. 

The average price per square foot is $694.

Browse Upper East Side homes for sale

Little Havana 

Little Havana is a neighborhood in Miami named by the biggest city and capital of Cuba, Havana. It is home to a big percentage of Cuban immigrants. This charming area is considered Miami's center for social, cultural, and political activities. 

Little Havana is declared a National Treasure and listed in the 11 Most Endangered Places for its tremendous historical bearing. 

The neighborhood is all about Cuba and Hispanic culture, with colorful murals and various monuments. 

Little Havana students can attend schools in the neighborhood, including elementary, middle, and senior high schools. 

The average price per SF is $411.

Browse Little Havana homes for sale

Pinecrest 

Considered as one of the best parts of Miami for raising a family, Pinecrest offers a high quality of life. The neighborhood made it to the South Florida Business Journal's list of the ten best places to live in Florida. 

Pinecrest is home to many reputable schools and one of the safest Miami neighborhoods. It is perfect for families, with ranch-style homes and gorgeous landscapes. 

The average price per square foot for a single family home is $940.

Browse Pinecrest homes for sale

South Beach Miami 

South Beach Miami is famous for its playful vibe and trendy atmosphere. It’s gorgeous beachfront residential as well as commercial properties keep attracting wealthy residents and investors from all over the country.

Its convenient location makes it perfect for families, with a majestic beach just a few minutes away and all the coastal attractions residents need. South Beach Miami has many wonderful amenities like lush parks, local youth activity centers, and a well-established school system, both private and public.

The average price per square foot is $1,078.

Browse South Beach homes for sale

Miami is one of the most attractive areas for wealthy investors and homebuyers for many good reasons. Whether you’re looking for a luxurious residential complex on the coast, or a chic condo in a high, urban building, you will find your perfect home, commercial space, or property investment in Miami neighborhoods.

Tips for Investing in Miami Real Estate

Investing in Miami’s real estate market can be a lucrative venture, but it requires careful consideration and planning. Here are some tips to keep in mind:

1. Research, research, research: Understanding local market trends, prices, and demand for different types of properties is crucial. Stay informed about the latest developments in Miami neighborhoods to make well-informed decisions.

2. Location, location, location: Proximity to amenities, public transportation, and major business hubs can significantly impact property value. Choose locations that offer convenience and potential for growth.

3. Diversify your portfolio: Spread your investments across a mix of residential and commercial properties to mitigate risk and maximize returns. Miami offers a variety of options, from beachfront condos to commercial properties in bustling districts.

4. Work with a reputable agent: Partnering with a trusted real estate agent or attorney can ensure a smooth transaction and provide valuable insights into Miami’s real estate market.

5. Keep an eye on the future: Consider the potential for long-term appreciation and rental income. Look for neighborhoods with planned developments or infrastructure projects that could boost property value.

Miami Real Estate News

"10 Miami Homes under $1M"

"Moving to Miami: The Ultimate Guide"

"Which Neighborhoods Have the Most Desirable Houses for Sale in Miami"

Conclusion

Miami’s neighborhoods offer a unique blend of culture, lifestyle, and investment opportunities. Whether you’re a seasoned investor or a first-time buyer, the city’s real estate market has something to offer. By understanding the local market trends, researching the best neighborhoods, and working with a reputable agent, you can make informed investment decisions and achieve your financial goals. With its stunning beaches, vibrant culture, and thriving economy, Miami is an attractive destination for investors and homebuyers alike.