It’s not every day that someone decides to purchase a home, and while you're at it you might as well find something that fits your tastes and brings a smile to your face. Some love the fast-paced urban cities where there is always something going on, and it seems that the city never sleeps. Others prefer the more settled down lifestyle of a rural area with fewer crowds and noise, where the natural landscape prevails.
But, have you ever considered relocating to a coastal city. How about living in a home that offers you gorgeous ocean views, great weather year-round, and amazing coastal vibes? This image is probably reminding you of a perfect summer vacation, but wouldn’t it be great if you can have that experience year-round since you get to live in one of your favorite coastal cities? We are not talking about any city; we are talking about Miami FL, a getaway for Americans and foreigners alike.
It is probably one of the most popular coastal destinations, and for good reasons. Have you ever wondered what it would be like to live in such a place? We have good news for you! If you are reading this article, you are about to find out what it takes to live in one of Florida’s finest cities. Here is a bit of insight into what the housing market of Miami, Florida has to offer and what it takes to buy a home and become a resident in “The Magic City.”
Living in Miami FL
Enjoying the sunshine and hanging out on South Beach is probably what you are thinking of right now, but living in Miami FL is so much more than that. Finding the kind of lifestyle that fits you perfectly is what Miami is all about. Miami’s expenses might be higher than average, but many argue that it is worth every penny. Are you interested in finding out what kind of lavish lifestyle you can have in Miami FL?
The sprawling city provides you with a unique setting where you can enjoy more than 50 miles of beaches, and Ocean Drive offers you some of the most scenic ocean views even if you are just passing by the beach area or commuting. Miami’s cultural diversity is stunning. Upon arrival, you will notice the Latin-American influences over the city and the Cuban influence over the culinary world of Miami.
Enjoying a cup of Cuban coffee every day is a ritual. You can’t have enough of it if you love good coffee. And the sprawling culinary scene provides you with great eateries where you can enjoy affordable and hearty comfort foods or fancy dining settings with irresistible dishes.
Shopping can’t get better than what Miami has to offer at some of their enormous outlets. Bayside Marketplace is one such place where you can find some of the big name-chains along with plenty of entertainment opportunities such as live music, sunset cruises, and playgrounds for the kids.
Art is at its finest in Miami, FL. Wynwood Walls are a take on some of the finest street art anywhere in the world, and the city is an art in itself, especially in the Art Deco Historic District, where pastel buildings with classic neon signs bring the nostalgia of the 1940s and 30s. Artists from all over the world find their inspiration in beautiful Miami.
The coastal city never sleeps, and most noticeable is the nightlife scene. If you are looking for the perfect place to let loose, look no further than Miami. Some argue that here you can find the best clubs in the world. Wildlife is not just a word describing the crazy nightlife scene of Miami it is also representing the gorgeous natural environment in some of its areas where the fauna and flora are thriving.
More than 800 parks can be found in the sprawling coastal city, amongst which you can discover Oleta Park, the largest urban park in Florida. There is so much more that can be said about the city, but what about the housing market. How can you become a proud homeowner in Miami, Florida?
The housing market of Miami FL
We can see the glitter and glamour associated with this famous coastal destination, but all of it comes at quite a high cost when it comes to the housing market. The median home value is about $365,000, according to Zillow. Expect to come up with a hefty amount of money for the downpayment on your home.
Renters would have an even harder time maintaining a comfortable living since renters in some of Miami’s most popular areas are among the most cost-burdened residents in the country. The average rent price is about $1,700 but no worry, only the most popular areas in Miami have these expensive rent prices. For most of the part, if you are searching for rent in some of the least popular areas, you might be able to find something at around $1,000/month.
However, buying a home in Miami FL can be quite an achievement, and if your pockets are prepared for this investment, you are looking at a housing market that has all you might be looking for. With the help of top real estate agents in Miami FL you can really explore the depths of the housing market and find something that fits your lifestyle. Here are some of the residential areas, along with the type of homes you can expect to find for sale in Miami FL.
The type of homes you can find in Miami Florida range from single-family, townhomes, and condos. Each has its own price ranges and it might vary from one neighborhood to another. Condos are the cheapest options on the housing market with a median price of about $175,000, followed by townhomes at a median price of about $190,000. Single-family homes are known in Miami for being the most expensive housing option at a median home price of about $370,000.
Neighborhoods in Miami FL
As far as neighborhoods go, there is a variety to choose from, and each offer certain amenities and attractions based on what kind of living conditions you are looking for. For young couples, a good area would be Padilla, which is located west of South Beach around the Biscayne Park area.
Communities for people who love the architecture and art vibes circulating around Miami should look for a home in the Wynwood Arts District located in the city core. The lively art and culture that predominates the district is mainly the thing that drives people to relocate here. You can also find quite a few trendy restaurants, food trucks, and local boutiques, which are a great addition.
Suppose you want to get some of the modern vibes of Miami along with ample job opportunities, you might want to look into Brickell. The Financial District of Miami FL is located here, and the influx of new restaurants and condos suggests an upwards trend for this community. A great neighborhood if you want a promoting career in Miami and love the urban setting.
If you want to get a real feel of Miami’s landscape for an authentic experience, you should consider buying a home in one of the oldest neighborhoods, Coconut Grove. Here you can find gorgeous waterfront property and a lush green landscape in a setting that retains its bohemian roots. An abundant boating culture, along with a family-friendly environment, makes it one of the best communities in Miami.
Aventura is another excellent neighborhood of Miami that is known for being affordable compared to other areas around it. The community features high-rise condos and top-notch shopping malls if you are a shopping enthusiast. It is also one of Miami’s largest suburbs with great schools and is located in close proximity to the beach.
Whichever is the future neighborhood you are prospecting, make sure you get in touch with our real estate agents in Miami FL, who can help you find the best home options and prices suited for your needs and within your budget.
Without a doubt, the sprawling coastal destination of Miami FL attracted many people, not only for the purpose of having a great vacation but also for becoming future residents. You have a culturally rich city with beautiful architectural buildings and amazing coastal vibes. Art, food, and entertainment are at its best in Miami, and buying a home in America’s most glamorous cities is going to be a dream come true. There is a neighborhood that suits every lifestyle, and you can be part of these fantastic communities.
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