The latest census data revealed that Little Haiti is the most affordable neighborhood of Miami to live in. If your search is to locate the cheapest neighborhoods in Miami, then you are right where you should be, because, Miami is indeed a huge place, and the largest city in the state of Florida.
While there are also some isolated communities in the city, which are even costly, it also has some cheap neighborhoods where you can live without spending a fortune apart from Little Haiti.
What are these cheapest neighborhoods in Miami? Let’s discuss that right away.
Neighborhoods.com revealed in its data that the average home sale price in Brownsville is around $100s, well below the average sale price of South Florida at $350,000. Most homes around that place are single-family and come in different styles. Many homes in the area that are presently listed for sale have their price below $300,000, which is rare for many other neighborhoods in Miami.
The location of this neighborhood is one of its best attributes. Brownsville is located west of Interchange 95 and is a few drives away from Miami International Airport and Downtown Miami. This area has cultural diversity as there are Honduran, Peruvian, and Mexican restaurants, together with traditional American fare.
#2 Model City
This neighborhood is nestled between Brownsville to its wet and Little Haiti to the east and is also known as Liberty City, with its rich history to corroborate its budget-friendly home prices. The average home sale price in Model City is also on the high side of the $100s, even though the neighborhood is filled with both single and multi-family homes.
Model City is famous for its historic connections to Martin Luther King, Jr. who often visited the place during his call for civil rights. Today, the neighborhood is home to some popular musicians and old professional football players. Although it is not much of a tourist destination, it is sometimes a hotcake location for people seeking to escape the city’s typical beach and downtown vibes. Model City is where some of the best soul food in the city is found, together with great Haitian cuisine, as well as an incredible nightclub scene.
#3 Sunny Isles Beach
This neighborhood is mostly filled with condominiums since most residents want to catch a view of the sea. Lots of condos in Sunny Isles Beach are only affeww walks from the beach and other attractions, making it an incredible place for people who would prefer to walk. The private beaches and closed communities help add to the low crime rate of the area.
Newport Fishing Pier is one of the major attractions in the neighborhood and is open to fishermen all through the year. Other attractions in the area include the Aventura Mall which offers classic dining and shopping as well as Oleta River State Park. Whether the nightlife interests you or you just want to have family time on the beach, Sunny Isles Beach has something for everyone in all stages of life.
This area is located north of Brownville ant its average sales price is at $178,500 – about half of the average of South Florida. Homes in Gladeview are often single-family in varieties of styles. The smaller homes however tend to cost cheaper. The neighborhood generally draws in first-time homebuyers looking for cheaper homes that provide easy access to Downtown and other places inside the city. Gladeview also has many parks, such as Gwen Cherry Park and Gladeview Park.
#5 Coral Way
This neighborhood is well-known for its amazing beauty with much of its main road covered in the natural Banyan tree canopy. Coral Way is relatively closer to Downtown Miami and it always sees different old architectural structures and modern touches. The neighborhood is famous with younger families and entrepreneurs, including retirees searching for a bustling place to live.
Coral Way is also known for its international flair – roughly 65 percent of residents of Coral Way were born outside the country. Amazing street art and historic architecture came together to provide a unique Cuban feel to this neighborhood. People that enjoy shopping will also discover a lot to do because Miracle Marketplace is also located around here.
#6 West Little River
This neighborhood is surrounded by Miami Shores and Pinewood to its east side, Gladeview and Model City to its southern side, and Hialeah to its west side, and it is mostly filled with single-family homes at a little higher price than homes in neighborhoods located in the fat south.
The average sale price of a home in West Little River is low in the $200s. Similar to the surrounding areas, this neighborhood’s history goes way back to the Great Depression, but it is now where different strip malls including some restaurants and shopping are found.
#7 Little Havana
Named for the whole lot of people who moved there from Cuba, the average sale price in the neighborhood is also around the lows of $200s. Little Havana has different housing styles, which include single-family, condos, and townhomes. Prices can change significantly based on the part of the neighborhood your home is located.
The neighborhood is proof of Cuban and Spanish cultural influence, with cortadito espressos, salsa music, Cuban cuisine, and politics – particularly on SW 8th Street (known as Calle Ocho), Little Havana’s thoroughfare. This neighborhood is also where the Calle Ocho Music Festival, a Carnaval Miami event is held in March each year.
This is the largest Hispanic festival in the United States and draws large crowds to listen to music, enjoy folkloric dancing, and international food.
This is considered a large area west and south of Miami. While real estate across the neighborhood tends to be cheaper than other neighborhoods of the city, there are many neighborhoods inside Kendall that may be especially attractive to people looking for cheaper homes. The average home sales price in the Hammocks, for instance, is around the high of $200s.
Homebuyers can find varieties of home styles, which include single-family, condominiums, and townhomes. In addition, those looking for homes within the $300,000 – $400,000 range may be able to get ones in this neighborhood with larger square footage than in other neighborhoods. While your commute to Downtown may be longer if you reside in Kendall and work Downtown, you will be able to access above-the-average schools and a lot of outdoor activities.
This is a large area located North-west of Downtown with an average home value around the mid $200s, for each HomeValue.com. This is a great place to locate a relatively priced home, even though you will possibly have to search well because pricing can vary a lot based on the part of the neighborhood you prefer.
For instance, the average home value in Hialeah Gardens is around $200s, according to Neighborhood Scout. In other areas, the price of a home is over $500,000.
#10 El Portal
With a lower population of almost 2,000 (about half of its residents are married) and an average of 45.2, this neighborhood seems like a perfect Miami neighborhood for retirees together with people who wish to save future retirement funds in the years to come. El Portal is ideal for people who are searching for more value for their retirement money since a one-bedroom unit in the area can be rented for just $960.
FAQ about Most Affordable Neighborhoods in Miami
Is it cost-friendly to live in Miami?
If the most affordable place to live in Miami is where you wish to live, Miami is not an option to consider. That said, living in Miami only costs 15% more than the country’s average, so based on where you are relocating from, you may find the city within your range.
How much will be enough to move to Miami?
So, to reside in Miami easily, you would need to earn around $3,500 per month. Any of the expenses mentioned above and other additional costs will be well covered with this particular amount. Costs like entertainment, health insurance, and auto repairs could be expected, while others may not be.
What is the cost of living in Downtown Miami?
About $2,360 is needed to live in Downtown Miami. And to rent in West Flagler, you will spend an average of $2,610 per month. One of the advantages is that these are considered to be the safest areas in the city of Miami. Apart from mortgage payments or rental prices, the cost of living for a family of four in Downtown Miami is $3,722.
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