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We Rated the Best Miami Beach Waterfront Communities to buy or build in 2023.
Miami Beach offers many waterfront neighborhoods, but where do you start your search? To help you narrow down your options our Miami Beach expert David Vazquez gives you more insight into the different areas and summarizes what he likes or dislikes about each of these. Of course, everyone can have their own opinion, so if you have any questions or would like a more personalized chat about the different waterfront communities in Miami Beach, please give us a call.
My Favorite Three
- Indian Creek
- Sunset Islands
- La Gorce Islands
My Least Favorite Three
- Star Island
- Palm Island
- Pinetree Drive
This study is for Waterfront properties ONLY and is based on closed sales over the past 24 months (August 2021-August 2023) and also takes into account active listing inventory.
North Bay Road
North Bay Road homes in Miami Beach are some of the most exclusive properties in all of South Florida. With a reputation for luxury, privacy, and stunning waterfront views converge, the North Bay Road neighborhood is home to some of Miami’s wealthiest and most famous residents. This exclusive enclave offers an unparalleled lifestyle that combines the tranquility of a residential community with the excitement of being just moments away from the vibrant cultural and entertainment scene of Miami. Nestled along the pristine waters of Biscayne Bay, North Bay Road is renowned for its magnificent waterfront properties which range in size from 15,000 square foot lots to 50,000 square feet. Residents enjoy breathtaking panoramic views of the bay, the Miami skyline, and the sunsets that paint the sky each evening.
What I like:
- Large lots, the average size is 24,000 square feet
- Wide open bay views from 43rd Street to 63rd Street
- On the protected bay from 20th Street to 34th Street
- Great accessibility via boat to open bay and ocean
What I don’t like:
- Not gated
- Could flood at times
Star Island
Star Island Miami Beach is a legendary and ultra-exclusive neighborhood that only a few fortunate residents get to call home. Star Island is located on a man-made barrier island in Biscayne Bay, just off the coast of South Beach. Star Island Miami offers extreme exclusivity, unobstructed bay views, private boat docks, and waterfront lots of at least 40,000 square feet each. Access to Star Island is controlled with a guardhouse and 24/7 security. Star Island has been a haven for A-list celebrities with notable residents from the worlds of entertainment, sports, and business. While offering a private oasis, Star Island is conveniently close to South Beach and its world-class dining, shopping, and all South Beach has to offer.
Star Island within the back Palm and Hibiscus Island
What I like:
- Huge lots, the average lot is 40,000 square feet
- Very close proximity to the South of 5th neighborhood
- Easily accessible to open bay and ocean via boat
What I don’t like:
- Although gated, it is quite exposed to the public
- Lots of boat traffic and boat tourism
- Off the Macarthur Causeway, no walkability to any shops, restaurants, etc
Hibiscus Island
The exclusive Hibiscus Island is found in Biscayne Bay, north of the MacArthur Causeway, and is accessible only via Palm Island. Hibiscus offers both waterfront living and interior dry lots. With its close proximity to both Miami Beach and mainland Miami, Hibiscus Island is an ideal location for enjoying the best of both worlds. Hibiscus Island offers a community center with tennis courts, basketball courts, and a kids’ park. Boating is a big reason buyers flock to this island as there are no fixed bridges allowing access to boats small and large.
What I like:
- Gated
- Privacy: only access is through Macarthur Causeway and going through Palm Island
- Palm Island Park which offers tennis, basketball, pickleball, kids’ playground
- Access to the mainland and South Beach is very easy
What I don’t like:
- No walkability to shops, restaurants, etc
- Boat traffic especially on the north side of the island
Palm Island
Palm Island is a man-made island just south of Hibiscus Island in the waters of Biscayne Bay. Just like Hibiscus, this island is only accessible by land via the MacArthur Causeway. The east side of the island offers larger waterfront lots only while the west side offers a mix of waterfront lots both large and smaller along with dry lots. It is a boater’s paradise in a convenient location, close to Miami Beach, close to Miami and protected by Hibiscus Island to the north and MacArthur Causeway to the south. The island is gated and provides security 24 hours a day, ensuring a safe family-friendly community. Palm Island shares a community park with Hibiscus Island which offers tennis courts, basketball courts, and a kid’s park.
What I like:
- Gated
- Large lots especially on the east side of the island
- Palm Island Park which offers tennis, basketball, pickleball, kids’ playground
- Access to the mainland and South Beach is very easy
What I don’t like:
- No walkability to shops, restaurants, etc
- Macarthur Causeway views, traffic, and noise especially if facing south
DiLido Island (Venetian Islands)
Di Lido Island is a man-made island in Biscayne Bay, just west of Rivo Alto Island and east of San Marino Island. It is made up of luxury single-family homes both waterfront and dry lots. Di Lido is the center island of what is called the “Venetian Islands”, which sit on the Venetian Causeway and is one of the most desirable locations in Miami Beach. Its location is ideal as it is easily accessible to South Beach and mainland Miami via the Venetian Causeway. Di Lido Island is the largest island among the Venetian Islands with 230 residents.
From left to right: San Marino, DiLido, and Rivo Alto Island
What I like:
- Great location, easy access to mainland Miami and South Beach into Sunset Harbour, a friendly hub for restaurants, shops, and gyms
- Views, downtown skyline if facing west which are phenomenal
- Great access to open waters via boat
What I don’t like:
- Venetian Causeway traffic (cars, runners, cyclists)
- Not gated
Rivo Alto Island (Venetian Islands)
Rivo Alto Island is a man-made island in Biscayne Bay, just west of Rivo Alto Island and east of San Marino Island. It is made up of luxury single-family homes both waterfront and dry lots. Di Lido is the furthest east island of what is called the “Venetian Islands”, which sit on the Venetian Causeway and are one of the most desirable locations in Miami Beach. Its location is ideal as it is easily accessible to South Beach and mainland Miami via the Venetian Causeway.
What I like:
- Great location, easy access to mainland Miami and South Beach into Sunset Harbour, a local friendly hub for restaurants, shops, and gyms
- Views, downtown skyline if facing west which are phenomenal
- Great access to open waters via boat
What I don’t like:
- Venetian Causeway traffic (cars, runners, cyclists)
- Not gated
San Marino Island (Venetian Islands)
San Marino Island is a man-made island in Biscayne Bay, just west of Dilido Island and east of San Marco Island. It is made up of luxury single-family homes both waterfront and dry lots. San Marino Island is the west island of what is called the “Venetian Islands”, which sit on the Venetian Causeway and is one of the most desirable locations in Miami Beach. It is close to shopping and dining in Miami Beach and mainland Miami.
What I like:
- Great location, easy access to mainland Miami and South Beach into Sunset Harbour, a local friendly hub for restaurants, shops, and gyms
- Views, downtown skyline if facing west which are phenomenal
- Great access to open waters via boat
What I don’t like:
- Venetian Causeway traffic (cars, runners, cyclists)
- Not gated
Pine Tree Drive
Running on Pinetree Drive from 23rd Street to 63rd Street, Pinetree Drive homes are one of the most desirable when looking for waterfront living in Miami Beach. Pinetree Drive offers some of the largest lots for waterfront living at a fraction of the cost of similar-sized lots. Centrally located in Miami Beach and easily accessible to South Beach (10-minute drive), Bal Harbour shops (10-minute drive), and Julia Tuttle causeway to access the mainland. Pinetree Drive homes run along the west side of Indian Creek Canal, a few short minutes to the sands of Miami Beach.
What I like:
- Large lots, averaging almost an acre per lot
- Protected waters for boats and yachts
- Close proximity to the beach
What I don’t like:
- Not easily accessible to open bay and ocean via boat
- Non-privacy from condo residents across Indian Creek Canal
- Not gated
La Gorce Island
La Gorce Island is a guard-gated community located in the city of Miami Beach but also known as “North Beach”. La Gorce Island is considered to be one of the premier communities to reside with only 89 homes on the island, a mix of waterfront lots and dry lots. Located south of Normandy Isles and west of Allison Island, minutes away from the sand, Bal Harbour shops, and Miami Beach. The island is a tropical oasis from the busy city living with its beautiful landscape and greenery, luxury homes, and 24-hour security. La Gorce Island is also minutes away from La Gorce Country Club, a private membership club that features tennis courts, a fitness center, restaurants, and one of the best golf courses in South Florida.
What I like:
- Very private, gated
- Large lots, average size of about 30,000 square feet
- Far enough to feel secluded and quiet but close enough for a 10-minute drive to South Beach or Bal Harbour
- Close to La Gorce Country Club
- Easily accessible to open bay and ocean via boat
What I don’t like:
- Not much I don’t like about La Gorce Island
Allison Island
Allison Island is found inside the Indian Creek waterway and just east of La Gorce Island. Allison Island is a gated community that contains only waterfront homes, north of 63rd Street. It is located less than a mile away from Indian Creek Park and La Gorce Country Club. Minutes away is also the Bal Harbour shops which are easily accessible via the bridge connecting Allison Island to the barrier island of North Miami Beach.
What I like:
- Private, gated
- Close to La Gorce Country Club
- Easily accessible to open bay and ocean via boat
What I don’t like:
- Owners on the east side of the island face condos across Indian Creek Canal
Indian Creek Island
Indian Creek Island is a barrier island located in Biscayne Bay. The island is synonymous with extreme wealth, privacy, and exclusivity and is matched by very few places in the world. Also known as “Billionaire’s Bunker”, the average home price is over $50M and the average lot size is nearly 2 acres. There are only 41 estates on the island surrounded by water on the exterior and circling the golf course along the interior. Indian Creek is a neighborhood for the truly elite and uber-wealthy. Security on the island includes its own police force with a patrol boat, jet ski patrol, and jeep patrol operating 24 hours a day. It is a community unlike any other.
- Ultimate privacy: gated, private police force operating 24 hours a day on land and sea
- HUGE lots averaging 2 acres in size
- Only 41 estates on the island
- Indian Creek Country Club interior part of the island
- Very little boat traffic
- Access to open bay and ocean via boat
What I don’t like:
- Not much to dislike at Indian Creek Island
Sunset Islands
What I like:
- Gated
- Private both by car and by water, low boat traffic
- A mix of open bay properties and large canals/ “lake”
- Great location, walkable to the desirable Sunset Harbour neighborhood
What I don’t like:
- Not Much to dislike!
Normandy Shores
Normandy Shores lies just west of Miami Beach island. It is a single-family home community that surrounds the Normandy Shores Golf Course. There is a canal running through the island of Normandy Isle offering waterfront living to those living on the open bay or on the canal. Normandy Shores has a lot to offer including a 24-hour guard house, waterfront tennis courts, basketball courts, and many parks and playgrounds along with a community center. Its close proximity to Miami Beach and the mainland via the 79th Street causeway makes it desirable to someone who wants to live in a quiet neighborhood but close to it all.
What I like:
- Gated
- Budget-friendly, can be on the open bay for 1/3rd the price of other islands
- Easy access to open bay and ocean via boat
- Shares the island with Normandy Shores golf course
What I don’t like:
- Close to large and small apartment complexes
- Smaller lots but lower prices
Schedule a Meeting/Time with David
FAQ
These are the most commonly Miami Real Estate Related questions
What should relocation buyers know before buying real estate in Miami?
HOME BUYERS
Relocation buyers looking at homes in Miami should understand that choosing the right house is less about the property itself and more about location, schools, and long-term value. Many buyers make the mistake of focusing on price or finishes, while the real driver of value is the neighborhood and micro-location. Older homes often represent better value, but may also be part of a future redevelopment cycle. Newer homes command premiums, but don’t always sell faster if pricing is ahead of the market. Commute time, school access, and community dynamics are critical and often underestimated. The key is to evaluate homes not just as lifestyle purchases, but as long-term assets within a very localized market.
Sources:
https://luxlifemiamiblog.com/relocating-to-miami/
https://luxlifemiamiblog.com/relocating-to-miami-with-a-family/
CONDO BUYERS:
Relocation buyers should understand that Miami is a highly segmented, building-driven market, not a uniform one. Pricing can vary significantly between similar properties depending on building quality, layout, and financial health. Many buyers assume newer construction equals better investment, but that is often not the case. Factors like HOA fees, reserves, and rental policies can materially impact long-term value and liquidity. Negotiation opportunities often exist, especially in slower segments, but require precise market knowledge. The key is to evaluate micro-markets and individual buildings, not just neighborhoods or price per square foot.
Sources:
https://luxlifemiamiblog.com/miami-real-estate-market-report/
https://luxlifemiamiblog.com/new-construction-miami-guide/
What are the best areas for relocating families with children
For families relocating to Miami with young children, the most recommended neighborhoods are Coral Gables, Coconut Grove, and Pinecrest. Coral Gables offers the best balance of top schools, safety, and long-term value. Coconut Grove is ideal for younger families seeking walkability, greenery, and a lifestyle-driven environment. Pinecrest provides larger homes, excellent schools, and better value for space, making it ideal for growing families. The key driver across all three is access to strong schools and primary residential stability. Relocation decisions are less about new construction and more about long-term livability and resale strength.
Sources:
https://luxlifemiamiblog.com/best-neighborhoods-miami/
https://luxlifemiamiblog.com/what-are-the-best-family-neighborhoods-in-miami-in-2023/
Are new construction condos in Miami a good investment?
New construction condos in Miami can be a good investment—but only if you understand that not all buildings perform the same. According to the David Siddons Group, many buyers assume “new = better,” but in reality, performance depends on pricing, layout, building quality, and long-term demand. Some new developments set future price benchmarks and can drive long-term appreciation, especially in top-tier projects. However, many are priced aggressively at launch, and buyers relying on marketing instead of data often overpay.
The market is highly segmented, meaning two new buildings next to each other can perform very differently.
The best opportunities typically come from selecting the right building early or negotiating correctly in later phases.
In short: new construction is not automatically a good investment—it becomes one only with building-level analysis and disciplined entry pricing.
Sources:
https://luxlifemiamiblog.com/how-to-buy-a-luxury-condo-in-miami/
https://luxlifemiamiblog.com/category/independent-new-construction-condo-reviews/
https://luxlifemiamiblog.com/beyond-clickbait-real-insights-into-miamis-luxury-condo-market/
Why is buying a Miami condo riskier than buyers think?
Buying a Miami condo is often riskier than buyers expect because the true risks are at the building level—not visible in the listing price. Many buyers focus on finishes and views, while overlooking HOA reserves, insurance exposure, and potential special assessments. In reality, two identical units in different buildings can perform completely differently over time. Rising HOA fees and stricter regulations are also increasing the true cost of ownership, especially in older buildings. Liquidity can be affected by factors like financial health, rental policies, and ongoing repairs. The key risk is not the condo itself—but buying into the wrong building without proper due diligence.
Sources:
https://luxlifemiamiblog.com/how-to-buy-a-luxury-condo-in-miami/
https://luxlifemiamiblog.com/miami-condo-market-risks/
What are Miami's Safest Areas?
Which Miami Areas Still offer Great Value (Budget Friendly alternatives to Coral Gables and Pinecrest)
If you’re looking for better value than Coral Gables or Pinecrest, the answer (in true Siddons style) is not “go cheaper”—it’s go one layer outside the obvious markets.
The strongest value plays are:
- Schenley Park → closest substitute to Coral Gables at ~20% discount while maintaining similar character and location
- Biltmore Heights → almost identical feel to the Gables but ~25–30% cheaper on a $/SF basis
- Glenvar Heights → central location with larger lots and ~25% pricing advantage vs South Miami/Gables
- Baptist / Galloway (Kendall) → Pinecrest-style living (space, schools, land) at up to ~30% lower pricing
The pattern is consistent:
👉 Buyers are shifting west and slightly off-market to gain land, scale, and pricing efficiency. You don’t find value by going to a “cheaper neighborhood”—you find it by identifying adjacent micro-markets that offer the same lifestyle fundamentals without the brand premium.
Sources:
https://luxlifemiamiblog.com/best-value-neighborhoods-miami/
https://luxlifemiamiblog.com/category/miami-neighborhoods/
Is NOW a good time to buy in Miami?
Are Miami real estate prices going down in 2026?
No—but that’s the wrong way to look at it. Miami is not one market anymore, so prices are not moving in one direction. In 2026, the market is split into two: ultra-luxury, scarcity-driven areas (like waterfront and top-tier neighborhoods) are still holding or even rising, while mid-tier condos and oversupplied segments are flat or correcting. What we’re seeing is price divergence, not a crash—some properties are gaining value while others are quietly adjusting downward. Rising inventory and more selective buyers are putting pressure on pricing in certain segments, especially older condos or buildings with weaker fundamentals.
At the same time, global wealth and cash buyers continue to support pricing at the top end of the market. So the real answer: prices aren’t broadly dropping—they’re being repriced based on quality, location, and supply.
Should I buy a house or a condo when relocating to Miami?
The decision comes down to lifestyle first, investment second—and most relocation buyers get that backwards. If you want space, privacy, schools, and long-term family living, a single-family home in areas like Coral Gables or Coconut Grove is typically the stronger choice. If you prioritize walkability, low maintenance, and proximity to business districts, a condo in Brickell or waterfront markets makes more sense.
From an investment perspective, homes tend to be more stable, while condos are more building-dependent and cyclical. Most relocation clients underestimate how much building quality, HOA structure, and future costs impact condo performance. The right answer isn’t “house vs condo”—it’s which asset fits your lifestyle AND holds value within its micro-market.
How do I choose the right Miami neighborhood for my lifestyle?
Why are Miami condo prices so different between buildings?
Miami condo pricing varies widely because value is determined at the building level, not just by location. Two buildings next to each other can have major differences in financial health, reserves, HOA fees, and management quality. Buyers also pay premiums for better layouts, views, amenities, and newer construction—but not all “new” buildings perform equally. Factors like rental policies, upcoming assessments, and building reputation can significantly impact resale value. This is why price per square foot alone is misleading in Miami’s condo market. The real driver of value is how that specific building competes within its micro-market over time.
Sources:
https://luxlifemiamiblog.com/how-to-buy-a-luxury-condo-in-miami/
https://luxlifemiamiblog.com/category/independent-new-construction-condo-reviews/
WHY WORK WITH DAVID? THINGS YOU SHOULD KNOW...
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