The 11 Best Neighborhoods in Miami

Details and Analysis of the Best Neighborhoods in Miami and why.

By David Siddons

These are the best neighborhoods in Miami

Below we have provided links to property listings located in the best neighborhoods in Miami. For the detailed description of these neighborhoods – scroll down read the appropriate section. To make it even easier we have added the 5 minute videos to the most key neighborhoods. If you are reading this article because you want to buy property, please call me on my cell: 305 508 0899 or email me: [email protected]. I will be delighted to guide you through the best deals in the neighborhood and share my 15 years of experience selling real estate in Miami. 

The 11 Best Neighborhoods in Miami

How we analyzed the Best Neighborhoods in Miami

Our analytics pages and Home Geeks software provides both micro and macro understanding of ALL specified markets below. You can get to the appropriate analytics page directly from within the neighborhood profiles detailed below. Once you jump to the analytics page for the neighborhood you want, it will give you a play-by-play of individual properties sold; 3, 6, 9, and even 24 months back, ranking them by the highest price per sqft to least. It will provide you with the average price per sqft, sales price, and images of every sold property, so you can recognize the unique individual features. The Smart Geeks tool (both home Geeks and Condo Geeks) will provide a more historical perspective of the neighborhood with data going back 10 years or more. This software is the most powerful on the planet for analyzing the complete market, neighborhood, community, and even specific Condo trends. All of this is designed to help you make a better decision!

#1 Coral Gables – The best Miami neighborhood to buy a home for wealthier families

Coral Gables is one of the most sought–after family neighborhoods in South Florida. The community is well–known for its superb real estate, high–end shopping, fine dining, and beautiful parks. This is a very well-funded city with a fast Police and Emergency response time! 

Coral Gables offers many styles of single-family homes, including historic homes, modern mansions, and luxury estates in waterfront and gated communities. Housing prices start from around $1m and can go as high as $60m once you enter gated Communities like Gables Estates. This is the preferred neighborhood by wealthy families looking for real estate options close to the best private schools in Miami.

Coral Gables is one of the most expensive cities to live in South Florida. Sales prices for non-waterfront homes can compete with Miami Beach, Coconut Grove, and Key Biscayne. Coral Gables is, without a doubt, one of the best neighborhoods in Miami

Economics of Coral Gables

Because this is a primary market with residents living here all year round, the local real estate economy is very stable. Coral Gables continues to illustrate low inventory even in a cooling market. Many families settle in Coral Gables because of the many high–quality schools. To get granular, you can email ([email protected]) or call me at 305 508 0899. My Home Geeks software will soon be released for you to use.

VISIT OUR CORAL GABLES NEIGHBORHOOD STATSTICS PAGE

#2 Coconut Grove – The best family neighborhood in Miami that feels like a village

Coconut Grove offers a unique charm and is the most organic area in Miami, offering lots of trees and lush vegetation. There are also several parks and green spaces, including Peacock Park, Regatta Park, and Merrie Christmas Park. The Grove ideally sits south of Brickell and north of Coral Gables.

Coconut Grove is safe and close to the best private schools. Therefore this area is one of the best places to raise a family. Additionally, Coconut Grove is one of the most pedestrian-friendly neighborhoods in Miami, allowing you to get around without a car.

Coconut Grove is an affluent area known for its high-end real estate and offers a variety of homes, townhomes, and condos. Moreover, there is a good amount of smaller gated communities. Buyers of waterfront homes will find these homes on the open bay or one of the inlets. The area offers a small number of luxury condo projects like Park Grove and Grove at Grand Bay. Vita Grove Isle is one of the newest developments. The before-mentioned luxury condos offer large residences which could function as single-family homes. 

Economics of Coconut Grove

Coconut Grove is possibly the least investor-driven market in Miami and still the most economically stable. The stability of the Coconut Grove market comes from the fact that it is a small, landlocked neighborhood. It is organic and feels like a real old-world town. Additionally, it is very walkable, which makes it very unique. Some of the best private schools in Florida are in Coconut Grove: Ransom Everglades and Carrolton.

To get granular, you can email ([email protected]) or call me at 305 508 0899. My new Home Geeks software offers data screens that help you analyze different price points and specific communities. If you are looking to buy a $6M home in a gated community, this system can help you analyze.

VISIT OUR COCONUT GROVE NEIGHBORHOOD STATSTICS PAGE

#3 Ponce Davis – The best Miami non-waterfront neighborhood for the wealthiest families.

Ponce Davis is a very affluent, small neighborhood in Miami. The area is between Coral Gables and South Miami. Ponce Davis offers quiet tree-lined streets and big lots. The neighborhood offers a perfect location near the Financial District, Coral Gables, and the Miami International Airport. A great place to raise a family because of its safety and proximity to many A-rated schools.

Ponce Davis offers a mix of old Florida architecture and newer construction homes. Properties in Ponce Davis are in demand due to the large lot sizes. There are no waterfront homes in Ponce Davis, but homes are one of the most sought-after in all of Miami. One of the best neighborhoods in Miami, especially if you are looking for a prestigious and exclusive neighborhood. 

Economics of Ponce Davis

Ponce Davis has performed very well in the last few years. A combination of several highly desired attributes like a unique position, a small number of homes, and large lots has led to staggering market prices. The market has reached new peaks previously unseen in markets like Coral Gables. The dollar per SF eclipses 50% more than what you might see in some parts of Coral Gables (The areas outside of the gated communities).

While a $6M or $7M property represented the top of the market several years ago. In the last two years, a few properties traded for $10M and one sale of nearly $15M. Several properties sold for $1,000 per SF and more, prices previously unseen.

THE PONCE DAVIS NEIGHBORHOOD STATISTICS PAGE

#4 Pinecrest – The best neighborhood in Miami to live for families with middle and high school kids and who want large lots.

Pinecrest is one of the best neighborhoods in Miami. The city is a beautiful, affluent suburb of Miami, and its real estate market is one of the most desirable in South Florida. Pinecrest is known for its excellent public schools, and well-regarded middle and high schools, one of the main reasons families choose to move here. The village is also home to several parks and other recreational facilities. Pinecrest is safe and family-friendly, and its residents enjoy a high quality of life. One of the most-mentioned advantages of Pinecrest is its strong sense of community. 

Pinecrest real estate characterizes by its large, estate-style homes on spacious lots. Buyers will find a variety of architectural styles to choose from, including Mediterranean, ranch, and contemporary. Prices for Pinecrest homes for sale start in the high six–figures and can exceed $10 million for the most luxurious properties. As a result of its beautiful homes, excellent schools, and amenities, Pinecrest real estate is some of the most desirable in South Florida, and the neighborhood belongs to the best in Miami.

The Economics of Pinecrest

Pinecrest is a primary market, that has performed very well. This market, however, is susceptible to inventory growth. Older homes are most at risk to sit on the market for a long time since buyers prefer newer homes. There is a lot of new home construction in this area, more than in all of the other areas. 

This is a stable market all around with a good amount of turnover of homes. The $10M mark is the ceiling of this market, although you might see an occasional sale of $12M. Houses of $10M or more are scarce, and people with a budget of $10M+ start navigating toward the gated communities in Coral Gables or Ponce Davis.

THE PINECREST NEIGHBORHOOD STATISTICS PAGE

#5  Key Biscayne – The best Miami neighborhood for those who wanted a ‘country club’ and waterfront experience.

Key Biscayne is a barrier island connected to the mainland by the Rickenbacker Causeway, the island’s main thoroughfare. This town is very quiet and relaxed because of its size and the small number of residents. Key Biscayne offers a laid-back lifestyle, although the town is very affluent and home to many wealthy families.

The island is also very safe, with low crime rates. Key Biscayne is a great place to raise a family or retire. There are excellent public and private schools, and plenty of activities for kids and adults alike. Key Biscayne is known for its outdoor lifestyle, yacht and boating activities, and sense of community. The island is also home to several parks and nature reserves. Additionally, the island offers several restaurants, bars, and stores so residents do not have to cross the bridge for entertainment or shopping. Key Biscayne is one of the best neighborhoods in Miami for raising a family, boating, and an active, outdoor lifestyle.

 The real estate market in Key Biscayne is one of the most sought-after in the United States. The prices of homes in Key Biscayne have been steadily increasing over the past few years, and there is no indication that they will stop anytime soon. Key Biscayne waterfront homes are located on or close to the open ocean and therefore are in high demand by boaters. The island is also home to many beachfront condos of which the most luxurious is Oceana Key Biscayne. 

Economics of Key Biscayne

The Key Biscayne market caters to both primary and secondary buyers. The Key Biscayne housing market is more primary while the condo market is more secondary. This market is also often affected by South American economic movements and influenced by Latin American developments. For this reason, the market has experienced more volatile swings than other markets over the last decade. The market has experienced a boom of high-end sales over $10M+ in the last years, previously unseen. Waterfront homes for sale are limited and hard to come by. These waterfront properties sell between $10M and $20M as of 2022. $20M is the ceiling for this market, and you will not find many homes over $20M.

THE KEY BISCAYNE NEIGHBORHOOD ANALYTICS PAGE

#6  South of Fifth (Miami Beach) – The most walkable luxury Condo neighborhood in Miami.

South of Fifth, or SoFi, is a small area in Miami Beach, Florida. It is the southernmost neighborhood in Miami Beach and covers the area south of 5th street. South of Fifth is known for its luxury high–rise condos, as well as its trendy restaurants and nightlife. South of Fifth is home to some of the most popular attractions on Miami Beach, including the Miami Beach Boardwalk, South Pointe Park, and the New World Symphony. The neighborhood is also close to the Port of Miami and downtown Miami. If you want to live in a high-end condo, close to top restaurants and the beach, this is one of the best neighborhoods in Miami.

The Economics of South of Fifth

South of Fifth did very well in the last few years. This market, however, is not considered the number one choice for ultra-luxury anymore. South of Fifth is no longer the only area in Miami that offers ultra-luxury condos. There has been a significant shift of luxury buyers towards the areas of Bal Harbour, Surfside, and North Miami Beach. The strongest performing condos in South of Fifth are Continuum, Apogee, and Murano at Portofino. Please refer to our Condo Geeks tool, to learn more about the South of Fifth Condo market.

The SOUTH OF FIFTH NEIGHBORHOOD STATISTICS PAGE

#7 Miami Beach – The most diverse beach front neighborhood for Beach Condo and Home buyers.

Miami Beach is a global tourist destination but has much more to offer. Miami Beach is one of Miami’s best neighborhoods for various reasons. Besides the world-famous beaches, residents enjoy many golf courses and parks. Although Miami Beach is home to world-class restaurants, many locals gather around Purdy Ave for casual dining.

Miami Beach provides a wide variety of real estate options. From high–rise condos with ocean views to quaint Art Deco cottages and waterfront mansions, there is something for everyone in Miami Beach. While the party happens in the South Beach area, Miami Beach offers many tranquil, family-oriented areas. For single-family homes, you would have to consider the areas around La Gorce, La Gorce Island, Nautilus, and North Bay Road. For high-end condos outside of the tourist areas, you should look at condos like Eighty Seven Park or 57 Ocean.

The Islands of Miami Beach

The Miami Beach Island communities include the Sunset Islands, Venetian Islands, Star Island, Palm Island, and Hibiscus Island. These affluent waterfront communities are home to many exclusive homes. A true paradise for boaters and those seeking ultra-modern waterfront mansions. The majority of these islands are gated, except for the Venetian islands. The islands are home to many wealthy families and offer relatively fast access to many of the best private schools in Miami and major highways.

The Economics of Miami Beach

Miami Beach is a complex market, and home to both primary homeowners and investors. Most beachfront condos are investment properties, while the single-family homes in the more residential areas of La Gorce, Nautilus, and even the Islands are more primary. In recent years Miami Beach has announced several new condos destined for end-users with large and functional floor plans. Condominiums like 87 Park and 57 Ocean and the brand new Perigon are examples of these. The overall Miami Beach market, just like the rest of Miami, has boomed in recent years with the arrival of tax migrants. The luxury markets flourished most, and luxury condos and waterfront homes became more desired than ever.

The economics of Miami Beach can be diverse. It all depends on the area and the type of product. The Miami Beach market is more volatile than many residential areas on the mainland. For more information about the different Miami Beach properties and their investment value, you can contact me at 305.508.0899.

THE MIAMI BEACH NEIGHBORHOOD STATISTICS 

#8 Brickell – The most developed Condo neighborhood for those want a ‘Manhattan’ like experience.

Brickell is a neighborhood of Greater Downtown Miami and the Financial District of Miami. The area is home to many international banks and hedge funds and is therefore named the Manhattan of the South. Brickell has a large concentration of high–rise residential towers, many of which date from the last decade. The neighborhood is one of the fastest–growing and densest in Miami. 

The neighborhood has grown in popularity as a wealthy Miami neighborhood. As a result of the migration of many financial institutions from the north, Brickell saw an influx of new, wealthy residents looking for luxury condos. 

Today, Brickell is a thriving neighborhood with a mix of office towers, high–rise residential buildings, restaurants, shops, and parks. Brickell is home to a young and diverse population and a popular destination for nightlife and entertainment. If you are looking for an urban lifestyle, having offices, bars, restaurants, and shopping, this will belong to your personal best neighborhoods in Miami.

The Economics of Brickell

Brickell is more of a volatile market with upward and downward swings. This market has enjoyed growth due to flight capital and mass migration. Specifically, the arrival of hedge funds and other financial institutions has given Brickell an enormous stimulus. Brickell has enjoyed a host of new condos, considered luxury condos such as Baccarat, Cipriani, and even Waldorf Astoria and the Aston Martin residences Downtown. St. Regis Brickell was recently introduced and is the only ultra-luxury condo since the Four Seasons in 2004.

The Brickell area consists of three sections: Brickell Key, South Brickell, and North Brickell. All three have very different characteristics and types of condos and therefore behave differently.

Not all condos are a good investment choice. We like to warn buyers of the older, more generic condos because these condos have been very cyclical. If you want to analyze the Brickell condo market, you can best use our Condo Geeks tool. In case you want to know more about which condos are more prone to risk, you can call me at 305.508.0899.

THE BRICKELL NEIGHBORHOOD STATISTICS 

#9 Edgewater – One of the Best Neighborhoods in Miami for those who want the best direct water views of the Bay.

Edgewater is an urban neighborhood in Miami just north of Downtown and Brickell. The area began to gentrify in the early 21st century. During the last condo boom, the Edgewater real estate market developed into a more luxury condo market. As a result, the neighborhood has become increasingly popular with young professionals and families.

Today the area is home to several luxury condos and restaurants, but it is still not as developed or walkable as Brickell. This does not stop the area’s desirability. Residents love the area for its spectacular and unobstructed bay views and proximity to Brickell, the Design District, and Miami Beach.

The Economics of Edgewater

Edgewater is home to several new luxury condos that we expect will do well. Elysee, Missoni Baia, and The Edition Residences are the condos likely to bring some true luxury to Edgewater. Several Edgewater condos are very generic, and will likely see some corrections. Please call us at 305.508.0899 to learn which condos we are talking about. To analyze the Miami condo market our Condo Geeks tool is very revealing and will help you understand the market.

THE EDGEWATER NEIGHBORHOOD STATISTICS

#10 Surfside/Bal Harbour – Best Neighborhoods to live in Miami for expensive luxury Condos.

Surfside and Bal Harbour are two of the best Neighborhoods in Miami for condo living. Both are small beachfront towns just north of Miami Beach. Surfside offers several small businesses, while Bal Harbour is known for its high-end shopping at The Bal Harbour Shops. These towns are not as walkable as some parts of the beach, or South of Fifth. This does not mean the areas are not safe, but they do not offer the same level of urbanization. The tranquility is one of the reasons why buyers are attracted to this part of town. It is quiet and private, and the action is just 10 to 20 minutes in Miami Beach or the Design District.

Although both neighborhoods offer single-family homes, the areas are mostly known for their oceanfront condos. Bal Harbour is home to St Regis and Oceana, two luxury condo towers desired by buyers. Regardless if you are looking for a two-bedroom or a large five-bedroom residence, you will find a unit here. Surfside offers the Surf Club Four Seasons, Arte Surfside, and Fendi chateau residences. 

Buyers are looking at luxury condos here because it is a quieter part of town, without the tourists but close enough to be Surfside is known for its wide beaches, clear waters, and family-friendly atmosphere. The town also has several parks, playgrounds, hotels, small businesses, and a public library.

The Economics of Bal Harbour/Surfside

These markets have seen a strong performance in the last few years. Specifically, some of the luxury condos like St Regis, Oceana, The Four Seasons, and Fendi. Both areas offer a combination of older, mid and brand new condos. There is also a good amount of older condos from the 80s and 90s. On account of the rigid rules after the Surfside condo collapse, these condos require more assessments than ever. As a result, you need to be careful with these condos and ask for advice, before you buy into them. Call us for details because this is a complex market, and products can differ significantly. Because the overall market did very well does not mean every individual condo performed well.

Bal Harbour is more insulated than Surfside and is also much smaller. Both areas, however, are starting to receive competition from new luxury condos in North Miami Beach. Examples of these condos are 87 Park, 57 Ocean, and the Perigon. These condos are receiving lots of attention, and the areas of North Miami Beach, Surfside, and Bal Harbour are interchangeable in the eyes of many luxury buyers.

SURFSIDE NEIGHBORHOOD STATISTICS

BAL HARBOUR NEIGHBORHOOD STATISTICS

#11 Sunny Isles – The most affordable luxury ‘Beachfront’ Condo neighborhood in Miami

Sunny Isles Beach is a town located on a barrier island between the Atlantic Ocean and Biscayne Bay. The community borders the cities of Bal Harbour and Aventura. It is known for its high amount of ultra-luxurious condos and offers both older and brand-new condos. The beaches here are clean and well–maintained. This tranquil town offers a variety of shops and restaurants.

The Economics of Sunny Isles

Sunny Isles is the poster child of excess. The neighborhood offers many ultra-luxury condos on the sand. Many of these condos are investment properties, second or third homes. Sunny Isles, however, still offers the best bank for your buck. Real estate cycles know winners and losers, and Sunny Isles is no exception to the rule. The Ritz Carlton and the Turnberry Ocean Club are examples of these winners. Estates at Aqcualina also look promising given its high percentage of primary owners, finishes, floor plans, and services. Sunny Isles is also home to two brand new condos; the St Regis Sunny Isles and the Bentley Residences. To learn more about the different condos and their performance, please call me at 305.508.0899. Additionally, you can analyze the market with our Condo Geeks system.

THE SUNNY ISLES NEIGHBORHOOD STATISTICS

Conclusions of the Best Neighborhoods in Miami

After all is said and done the best neighborhood is a subjective term, and the neighborhoods above are divided accordingly to best fit. The real value of David Siddons Group is not in identifying the right neighborhood to fit you, but in identifying the right individual property that fits your needs better than anything else, at the right price.

Only through a complete understanding of historical patterns and combined with a current appreciation of the product can we ensure to provide the best service. We go out every day into the market and know each individual property.

Furthermore, some markets may enter a state of correction and might need to be generally avoided. Others may be perceived as ideal for a client’s needs but a complete understanding ensures that if there is something better we will alert them of it! Generalized conversations are not part of our repertoire. Specificity is. As always, call me for a one-on-one chat about your needs. We hope this article serves as a good starting point though!

‘Best neighborhoods in Miami’ Questions and Answers.

What is the safest neighborhood?

There are many safe neighborhoods (see best for families) but if you want to think about the neighborhoods with the highest level of security, these would often be communities and guard gates within wider neighborhoods that do not allow public entry.

Indian Creek Island, Fisher Island, Tahiti Beach are hyper-secure neighborhoods and communities impossible to enter without invite. Also, see the best-gated communities Blog: https://luxlifemiamiblog.com/gated-communities-in-miami/

What is the best neighborhood for families?

Coconut Grove and Coral Gables for Elementary, Middle, and High. Pinecest for High School. We wrote a specific article on the ‘Best Neighborhood for Families’ and it includes the areas of Coconut Grove, Coral Gables, Pinecrest and Ponce Davis.

What is the wealthiest, Richest neighborhoods in Miami?

We wrote a complete article for that too! https://luxlifemiamiblog.com/what-are-miamis-richest-most-exclusive-and-expensive-neighborhoods-for-2019/

Where are the best schools relative to the best neighborhoods?

Read our article which shows where the best private schools are relative to the family neighborhoods: https://luxlifemiamiblog.com/the-best-private-schools-in-miami-where-should-you-live/

What’s the most walkable neighborhood in Miami?

This is going to be Brickell and Coconut Grove. For beach neighborhoods, it is South of Fifth.

What is the oldest most organically developed neighborhood?

This is easily Coconut Grove. Originally the first trading post in South Florida

Is the housing market dropping in 2023?

Although there may be correction in some lower level price pockets we consider the market will in most cases remain stable in neighborhood submarkets where inventory is very very low. Also specific subsectors like new construction custom homes will likely correct. The demand is just too high and inventory remains rock bottom (bearing in mind it takes 3 years+ to currently build one high level new home.

We have written a useful market that reflects on the Q4 psychology of home buyers and sellers: Mind the Gap: https://luxlifemiamiblog.com/miami-housing-market-trends-the-q3-2022-miami-real-estate-report/

What neighborhood is best for young professionals?

Brickell has long been the most popular with young professionals. Now, however, it is becoming more expensive, and lesser affluent young professionals are looking into Edgewater, midtown, and downtown for more affordable living costs.

What neighborhood has shown the highest appreciation over the last decade?

If you look at our home Geeks software and Combine it with other market statistics software you will see that it is not as simple as defining growth across an entire neighborhood. We can say that primary markets and luxury has accelerated enormously over the last couple of years. According to our last report between 2020 and 2022 Miami appreciated more than any almost any city in the US. The housing market appreciated in general 54% and Condos 45%

What neighborhood is at the greatest risk of correction?

Any neighborhood submarket that has a high percentage of rentals is more exposed to correction because its nature is always identified and influenced by investor psychology. When its up its great. When it does down it goes down hard. For specifics please refer to the reports section or call me directly. Historically however mid-range product in Brickell, Edgewater and Sunny Isles has been most at risk during times of correction.

Which neighborhood can I find a country club environment?

Key Biscayne has a combination of a Golf Course, Tennis, Sailing, and security which makes it feel as close to a country club environment as possible. It does not hurt that everyone drives around in Golf Carts! (even the kids). Please read this article on Key Biscayne as it explains all! https://luxlifemiamiblog.com/life-on-key-biscayne-miami-exploring-the-island-and-its-perfect-lifestyle/