Most Affordable Neighborhoods in Miami
The affordability of a place depends on multiple factors such as the median income levels, rent-to-income ratios, and the home price-to-income ratios. These factors impact your cost of living and can give you a fair idea about the quality of life in Miami. For instance, the median home prices can help you gauge how much you need to be making in order to afford housing inMiami.
Based on this data, here is the list of the 10 most affordable places to live in Miami. These neighborhoods in Miami have a high median income level, low rent-to-income ratio, or a relatively affordable home price-to-income ratio:
Check Out The Top 10 Most Affordable Neighborhoods To Live In Miami:
1. Brickell
With a median home price of $709,988 and a median rent of $1,924, Brickell is the most affordable neighborhood on our list. Based on the growth in home prices in Brickell over the last 3 years, it ranks No.4 among all the neighborhoods in Miami.
  Learn more about the housing market in Brickell
Must Know:
Brickell scores really well in terms of transportation. Most errands can be accomplished on foot.
Is Brickell a good place to live?
Several factors can influence the choice of place such as demographics, nearby schools, amenities, local community, and more. We've put this all together for Brickell.
Cheapest Home in Brickell
2. Venetian Islands
The next neighborhood on the list is Venetian Islands with a median home price of $1,100,202 and a median rent of $2,182.
  Learn more about the housing market in Venetian Islands
Must Know:
Venetian Islands scores below average in terms of transportation. Almost all errands require a car.
Is Venetian Islands a good place to live?
Several factors can influence the choice of place such as demographics, nearby schools, amenities, local community, and more. We've put this all together for Venetian Islands.
Cheapest Home in Venetian Islands
3. Downtown
Following the first two most affordable neighborhoods to live in Miami is Downtown with a median home price of $545,252 and a median rent of $1,493.
  Learn more about the housing market in Downtown
Must Know:
Downtown scores really well in terms of transportation. Most errands can be accomplished on foot.
Is Downtown a good place to live?
Several factors can influence the choice of place such as demographics, nearby schools, amenities, local community, and more. We've put this all together for Downtown.
Cheapest Home in Downtown
4. West Flagler
With a median home price of $420,418 and a median rent of $1,265, West Flagler is 4th on our list.
  Learn more about the housing market in West Flagler
Must Know:
West Flagler scores really well in terms of transportation. Most errands can be accomplished on foot.
Is West Flagler a good place to live?
Several factors can influence the choice of place such as demographics, nearby schools, amenities, local community, and more. We've put this all together for West Flagler.
Cheapest Home in West Flagler
5. Edgewater
Next up is Edgewater with a median home price of $675,362 and a median rent of $1,712.
  Learn more about the housing market in Edgewater
Must Know:
Edgewater scores really well in terms of transportation. Most errands can be accomplished on foot.
Is Edgewater a good place to live?
Several factors can influence the choice of place such as demographics, nearby schools, amenities, local community, and more. We've put this all together for Edgewater.
Cheapest Home in Edgewater
6. Upper East Side
The next neighborhood on the list of most affordable neighborhoods to live in Miami is Upper East Side with a median home price of $575,505 and a median rent of $1,213.
  Learn more about the housing market in Upper East Side
Must Know:
Upper East Side scores really well in terms of transportation. Most errands can be accomplished on foot.
Is Upper East Side a good place to live?
Several factors can influence the choice of place such as demographics, nearby schools, amenities, local community, and more. We've put this all together for Upper East Side.
Cheapest Home in Upper East Side
7. Wynwood
Next on the list is Wynwood with a median home price of $614,770 and a median rent of $1,702.
  Learn more about the housing market in Wynwood
Must Know:
Wynwood scores really well in terms of transportation. Daily errands do not require a car.
Is Wynwood a good place to live?
Several factors can influence the choice of place such as demographics, nearby schools, amenities, local community, and more. We've put this all together for Wynwood.
Cheapest Home in Wynwood
8. Shenandoah
With a median home price of $595,409 and a median rent of $1,318, Shenandoah is 8th on our list.
  Learn more about the housing market in Shenandoah
Must Know:
Shenandoah scores really well in terms of transportation. Most errands can be accomplished on foot.
Is Shenandoah a good place to live?
Several factors can influence the choice of place such as demographics, nearby schools, amenities, local community, and more. We've put this all together for Shenandoah.
Cheapest Home in Shenandoah
9. Douglas Park
Second to the last is Douglas Park with a median home price of $719,998 and a median rent of $1,599.
  Learn more about the housing market in Douglas Park
Must Know:
Douglas Park scores really well in terms of transportation. Most errands can be accomplished on foot.
Is Douglas Park a good place to live?
Several factors can influence the choice of place such as demographics, nearby schools, amenities, local community, and more. We've put this all together for Douglas Park.
Cheapest Home in Douglas Park
10. Little Havana
Rounding up our list of top 10 cheapest neighborhoods to live in Miami is Little Havana with a median home price of $369,906 and a median rent of $1,018.
  Learn more about the housing market in Little Havana
Must Know:
Little Havana scores really well in terms of transportation. Daily errands do not require a car.
Is Little Havana a good place to live?
Several factors can influence the choice of place such as demographics, nearby schools, amenities, local community, and more. We've put this all together for Little Havana.
