12 Best Places to Live in Miami For New Residents 

Are you curious about the best places to live in Miami, Florida? When it comes to settling down in Miami, the variety of towns and cities will leave a lot on your plate. Geographically, almost every place is close to the beach but still very distinct.

Of course, finding the cheapest place to live in Miami is the hardest job because affordability and Miami do not go hand in hand. But, still, there are plenty of free things to do in Miami, which is no less than bringing happiness back into your life.

best places to live in Miami

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But, can we deny that Miami is a city of dreams and it is a dream to own a house here? Finding the nicest neighborhoods in Miami is like finding a best friend in an unknown land. Did you check out the hidden gems in Miami yet? You should at least visit one of these places.

So, to the famous question – of where to live in Miami, I am placing a list of the 12 best places in convenience for education, health care, jobs, and a relaxed lifestyle. If you’re coming here you should purchase some Miami souvenirs to decorate your new home.

You can also check out the list of my best places to live in Central Florida. There are some great suggestions too!

Also, Miami is one of the great party destinations in Florida and the top beaches in Florida among the LBTQ community. If you love quiet places, then do check out some secret beaches in Miami, you’ll love it.

Let’s start!

Best Places to Live in Miami

1. Coconut Grove

  • Population: 2,421
  • Cost of living index: 148.7 (US average of 100)
  • Crime rate: 2, 878 (100K People)

If you want to reside in Miami’s bohemian beautiful spot, then look no further than Coconut Grove, the best place to live in the Miami area for retirees. The shady streets, lushly landscaped parks, and hippie culture are a great draw to reside here.

It occupies 5 sq. miles of land along the coastline south of Brickell and Downtown. The area is flourishing since 1873 attracting a commercial market as well as a residential population. Did you see the music video of The Lovin’ Spoonful, Nothing Matters?

It shows the appealing landscape of Coconut Grove. Additionally, it is the oldest community and the best place to live in Miami for young professionals. You’ll love to attend Coconut Grove Arts and Coconut Grove Seafood Festivals.

If you’re coming here for a short tour, I recommend going to historic tours and hanging out at Cocowalk. Here, you’ll enjoy a tropical vibe that only compliments flip-flops and sundress. Visit Vizcaya Museum and Renaissance-style Italian villas. 

The median listing home price is a minimum of $2.2 million. I cannot argue that this tranquil escape from Miami’s hustle and bustle can cost a fortune for an average-earning person. Furthermore, the affordable housing market can start costing from $ 750,000.

Coconut Grove, best place to live in Miami
Coconut Grove

2. Little Havana

  • Population: 78,790
  • Cost of living index: 96 (US average of 100)
  • Crime rate: 2,981 (100K People)

West of Downtown Miami sits Little Havana, a Latino community where the natural air smells like Cuban Coffee. You’ll find people always celebrating, singers playing songs by the streets, or an event going on. You should come to Calle Ocho Street to witness such fun events.

I was here for 3 months at Harry’s place. Did you know I learned Salsa here? If you ever dreamt of living a life wearing a colorful Hawaiian skirt, holding Cuban cigars, and immersing yourself in Miami’s Cuban culture, you know where to go.

If you’re coming here, you should get those cute Cuban woven fabric skirts. It looks so good. I recommend going to Versailles restaurant for tasting Cuban food. Also, do not miss fresh brewed Cuban espresso from Streetside cafes.  

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Little Havana holds the rich story of Cuban immigrants from Central and South America. This is one of the best places to live in Florida to enjoy and celebrate varied cultures and monthly festivals and live a non-competitive life.

The neighborhood is very friendly, artistic, and peaceful. Little Havana is the best place to live in Miami for singles as the nightlife is very lively. Also, according to Areavibes, the cost of living is 3% lower than Miami on average. 

Little Havana, Best Places to Live in Miami
Little Havana

3. Coral Terrace

  • Population: 22,773
  • Cost of living index: 129.6 (US average of 100)
  • Crime rate: 40.49 ( Per 1000 People)

Coral Terrace is nestled south of Pembroke Pines and the City of Miami. It is the best place to live in Miami, Dade County for young professionals. The place is all about small, medium, and big business. Also, it is close to the University of Miami and the Air Force base.

On average a single adult expense in Coral Terrace is $37,287 annually which is less than the national figure of $38,433. This affordable Miami suburb is not only one reason drawing Floridians but the place is packed with outdoor activities. 

The residential enclaves are very friendly. However, Coral Terrace and Flagami are close to Main Street, hence the traffic is pretty bad in the afternoon. So, please try to avoid traveling during this hour. 

The real estate market is varied from moderate-price apartments to duplexes. The median home value here is $313,400. Life here is mostly about “Work and Play”. I recommend going to the smoking-hot Poker Room for some fun!

4. Bal Harbour

  • Population: 3,267
  • Cost of living index: 200.2 (US average of 100)
  • Crime rate: 61.89 (per 1,000 residents)

Bal Harbour is a small affluent town near Miami sitting at the northernmost top of Miami Beach bounded by the Atlantic Ocean and Biscayne Bay. This tight-knit community is all about pristine beaches, cute restaurants, and shopping centers.

Here you’ll find some ultra-luxury rise development amenities villas, and affordable homes exclusive to stunning views and buzzing towns. Undoubtedly, it is a very glamorous place filled with outdoor recreation activities to perform.

Bal Harbour is a good neighborhood in Miami where young professionals love to reside as they have access to the glamour life they desire for. The median home value on Collins Avenue is $1,017,400, greater than the national median value of $204,900.

In terms of fun with friends, I’ve got a list of good options. Bring your friend to the beautiful Japanese restaurant called Makoto or, visit Carpaccio to taste outstanding Italian food. You’ll find high-end shopping centers at the heart of the city.

Furthermore, it is the best place to live in Miami for the family as the kid can go to the best schools which are just a few miles away. However, the real estate market in Bal Harbor is expensive. I stayed with Soniya at her grandpa’s place on the western side of the village which is comparatively cheap.

Bal Harbour
Bal Harbour

5. Surfside

  • Population: 5,671
  • Cost of living index:
  • Crime rate: 38.22 (per 1,000 residents)

Far from the chaos of South Beach sits Surfside, a cute town among Greater Miami’s oceanfront neighborhood. It sits between Bal Harbour and North Beach. The town is all about a charming vibe, cute restaurants, expensive shops, and luxury hotels.

If I’ve to rate, then this is the best suburb of Miami for outdoor activities lovers. You’ll fall in love with the European, South American, Canadian, and French cultural vibe. This is an unforgettable destination spot in Florida.

The median home value is $581,800, greater than the national value of $204,900. However, I want to know that if you’re buying an old home in Surfside, remember to renovate it as these are years old and can be dangerous if not renovated. 

For great walking trails in Florida, I recommend going to Harding Avenue, Surfside’s tiny downtown district. I went to Le Beau Maroc to buy some fine-scented body oils and beachy caftans from Morocco. I think you should purchase it too!

Furthermore, the best part of Surfside is the community has a strong sense of “togetherness”. On the Third Thursday of every month, they come together to eat, drink and have merry. The peaceful vibe welcomes people of all ages. 

6. Aventura

  • Population: 41,586
  • Cost of living index: 115.9 (US average of 100)
  • Crime rate: 31.25 (per 1,000 residents)
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Aventura is one of the best areas to live in Miami to enjoy suburban city life. It sits in the northeastern part of Miami-Dade County; hence beach sits next to you. The charming vibe and ample green space always make you feel always like home.

This up-scaled planned community is one of those fast-growing cities in Florida that in coming years will be high in demand. If you’re a sports lover then there is plenty of chances to join one. 

I recommend going to water sports! On weekends, locals launch boats to spend time on the Atlantic Ocean. As per 247wallast, a single adult expense is $37,287 annually, which is less than the national figure of $38,433.

You can buy a median home that is valued at around $204,900. However, renting is always a cheaper alternative. It is around $1500-$1700 every month. However, the place is so touristy that sometimes it becomes too noisy for the residents.

Aventura is truly the best neighborhood in Miami for kids and retirees as they’ve got a great opportunity for education and health care respectively. Here, you’ll always enjoy a hot, warm, and humid climate.

Aventura
Aventura

7. Kendall

  • Population: 81,702
  • Cost of living index: 126.4 (US average of 100)
  • Crime rate: 29.80 (per 1,000 residents)

Kendall is a beautiful place to live in South Miami with ample outdoor recreation sites, fascinating places to explore, green family-friendly public parks, and excellent golf courses. The climate here is very diverse with high humidity.

The housing market is higher than the national median home value. A median home costs around $356,500 with a single adult expenses around $37,287 annually. However, this area is prone to hurricane destruction, so keep that in mind.

8. Fisher Island

  • Population: 690
  • Cost of living index: 359.3 (US average of 100)
  • Crime rate: 26.9 (US average is 35.4)

Fisher Island is comparatively a safer place to live in Florida and is also an exclusive paradise for beachgoers. It sits just three miles from Miami. It is a “richy-rich” island where you’ll find top-notch amenities and expensive real estate.

People here ride fancy cars, own large yachts and “Spanish mansions” instead of one-bedroom apartments, and travel in trains and buses. The median home value is around $2,000,000, greater than the national median home value.

Fisher Island does not have any roads or bridges. You can access it through private boats and ferries. It is indeed home to many celebrities like Sharon Gless and Boris Becker.

Fisher Island
Fisher Island

Most Expensive Places to Live in Miami

9. Pinecrest

  • Population: 18,436
  • Cost of living index: 209.2 (US average of 100)
  • Crime rate: 24.13 (per 1,000 residents)

Pinecrest has expensive real estate, but its location makes it one of the best places to live in Miami for families. It sits between South Coconut Grove to the east and Kendall to the west. The landscape appearance is exclusively a suburban feel.

Lush sprawling greenery, quiet amid place, various walking trails, parks like Pinecrest Gardens, manicured lawns, winding roads, Fairchild Tropical Botanical Garden, good Government, and lively nightlife are what Pinecrest is all about!

The kids here can go to the good high-performing private schools which are sure to bring the best out of them. Public schools also recorded good productivity. Indeed, in terms of location, study, and safety Pinecrest is the best place to live in Miami. 

You know if you’re a resident of Pinecrest, in a few areas you’ll enjoy free WiFi throughout. However, upscale homes come with a high cost of living and high property taxes. On average a single adult’s expense annually is around $37,287. 

Only, rich people can afford this place as the median home value is $919,800. On average an adult spends a minimum of $4,064 per year buying health insurance and keeping fit. Also, geographically this area is at high risk for floods.

10. Indian Creek Island

  • Population: 82
  • Cost of living index: 406.2 (US average of 100)
  • Crime rate: 50.35 (per 1,000 residents)

I know no one talks about Indian Creek Island as the best place to live in Miami, South Florida because it is the place for ultra-rich wealthy people. The tiny island is home to 34 homes and earned a name for itself called – “Billionaire Bunker”.

I came here in 2020 for a weekend hangout at my friend’s boyfriend’s mansion. When I was in his place I felt no less than Netflix Hollywood set. The island is a barrier island sitting on the outskirts of Biscayne Bay offering billion dollar view. 

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My mind was blown out, I heard that on average each home value is $20 million. But do you know every mansion comes with a golf stretches playing field and a minimum of 1.25 acres of free land? Entering the island feels like you’re entering a high-security zone. 

In 2000, Indian Creek Island earned its name as the 8th highest-income area in America. It was because of my friend’s boyfriend, I got the chance to get a tour of the island. The best part of the island is its privacy. It is one of the safest places to live in Miami.

11. Coral Gables

  • Population: 49,989
  • Cost of living index: 114.2 (US average of 100)
  • Crime rate: 24(per 1,000 people)

Coral Gables is one of the best places to live in Miami for young adults, as this place is a mixture of business and residential areas with a touch of modern amenities and historical charm. Also, its proximity to the University of Miami is another draw.

Coral Gables got another name for itself called – “the City Beautiful”. If you’re coming here for a small tour, I recommend clicking the picture with Italian-inspired architecture, the scenic Biltmore Hotel, and coral bedrock. 

The Mediterranean-style architecture, miles of canals, waterways, old world charm, Venetian Pool, Matheson Hammock Park, and un-countable tennis playing, walking, and boating trails make it indeed the wonderful place to live in Miami.

The younger kids have good access to public and private schools. The teenagers love the lively nightlife with some great hangout spots. For families, the waterfront views, galleries, and shopping centers are peaceful and close respectively.

The downtown is the hub of financial industries and International Corporations. On average a single adult spends $37,287 per year including taxes, housing, food, and others. If you plan to buy a house, you need a minimum of $795,600 on average.

Coral Gables
Coral Gables

12. Star Island

  • Population: 35,398

Star Island is an exclusive manmade island in the Biscayne Bay between Miami Beach and Downtown Miami. This is the best neighborhood to live in Miami as the tax is low and the weather is balmy.

Mostly, Star Island is home to many athletes, and celebrities like Jennifer Lopez, Thomas Kramer, David and Linda Frankel, Stuart Miller, and more. However, the price of the properties is no less than $35 million.

Kids of Star Island also get a well-focused education facility by Miami-Dade County in South Pointe elementary schools, Miami Beach High School, and Nautilus Middle School. Also, in terms of crime rate, it is 81% safe than the state average.

Star Island
Star Island, Photo – DiscoverhomesMiami

Conclusion

Oh my God! Miami. In terms of cuisines, safety, enjoying – these places will surely surprise you with their charm and beauty. 

Affordability is difficult to find but dancing your life away with happiness- is what Miami is all about. 

I hope, through this blog, I answered your question if it is worth living in Miami. If any chance you’re planning to reside in the Florida Keys on a budget, you can surely check my next blog.

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FAQ: Best Places to Live in Miami

1. What is the safest part of Miami to live in?

A. Fisher Island in Miami is the safest place to live in. On the island, there are approximately 50 security guards guarding 24 hours to ensure the safety of the residents.

2. Is moving to Miami a good idea?

A. Yes, it is a good idea to move to Miami if you can afford it. You should have a sound job to support the expensive lifestyle Miami has to offer.

3. How much money do you need to live comfortably in Miami?

A. On average you’ve to make a minimum of $77,057 annually to live comfortably in Miami.

4. What are the pros and cons of living in Miami?

A. The biggest pros of living in Miami are its great working culture and growth opportunities. Whereas, the downside of living in Miami is its traffic, congestion, and expensive healthcare facilities.

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