Millennials Are Flocking to These 6 Miami Neighborhoods

Millennials have been gaining a lot of attention in recent years due, in part, to their sheer numbers. Generally defined as the group of people born between 1981-1996 (22-37 years old), millennials are expected to outnumber baby boomers by 2019, according to an article from the Pew Research Center. Millennials are also the largest generation in the U.S. workforce, making up 35 percent of the total, per the Pew Research Center article.

Demographic research also observes the jobs millennials work in and the areas where they’re living. Here are the six Miami neighborhoods that millennial homebuyers are choosing to call home.

Brickell

What’s not to love about living in Brickell? It’s ideally situated in the heart of the Downtown Miami area, which provides easy access to jobs, restaurants, and retail shops—all within walking distance. That’s probably why it earned the top spot on Niche’s 2018 Best Neighborhoods for Millennials in the Miami Area. It’s one of the few neighborhoods in the city where not owning a car is a realistic possibility thanks to the public transportation options like the Metromover, a free rail service that has stops throughout Downtown and connects with Metrorail.

Edgewater

Edgewater is another popular Miami neighborhood that’s located near the Intracoastal Waterway, Art District, and Fashion District. It also provides easy access to Downtown Miami. Edgewater is perfect for homebuyers who want to be close to the downtown area without having to actually live there. Fortunately, housing options are plentiful—and have been increasing in recent years, with dozens of condominium buildings, apartments, and multi-unit residences to choose from. With a median sale price at $320,000, per Neighborhoods.com data, this neighborhood is a bit pricier than others, but more options can be found farther away from the ocean.

Wynwood

Every city has its hipster enclaves, and in Miami, Wynwood is one of them. A former warehouse and manufacturing district, this neighborhood has morphed into a mecca for artists, entrepreneurs, and now millennials. One of its most popular features is the Wynwood Walls, but the neighborhood is also home to many art galleries, studios, and museums. Located just west of Edgewater, it’s also close to Downtown and has been the site of much new residential development in the past few years.

Downtown Miami

Millennials with families have been flocking to Downtown in much greater numbers than in previous times. Population in the urban city core has grown to nearly 90,000 residents, up 32 percent since 2010 and 150 percent since 2000, according to an article in the Miami Herald. Millennials make up about half of that population, per the article. The result has been an influx of residential communities with kid-friendly amenities and a push by the city to build more schools to accommodate the added number of children, per Miami Today.

Coconut Grove

Coconut Grove used to be viewed more as a neighborhood for retirees, but in recent times that perception has changed. Now, with a bustling downtown area with plenty of restaurants and bars, it’s attracting a younger crowd. Located along the water but still a short distance from Downtown, it provides scenic views and some distance from the chaos and noise of urban life. One of the most popular events held on President’s Day weekend is the Coconut Grove Art Festival, which brings hundreds of artists and thousands of visitors to the neighborhood each year. All this comes with a high price tag, however. The median home price is $700,000, and homes located along the ocean are priced over $5 million.

Miami Beach

Miami Beach is a strong choice for people of all ages, including millennials. The vibrant area combines a beach lifestyle along with the convenience of urban amenities. You also have many neighborhoods within Miami Beach to choose from, depending on your preferences and budget. South Beach is a known tourist destination, with plenty of nightlife and entertainment options. Although it has a variety of housing styles, ranging from single-family homes to high-rise condos, prices are higher than in other parts of the city, and parking is very limited. Mid-Beach is a bit removed from the trendy vibe of South Beach, but it still has many of the amenities young people seek, such as restaurants and shopping. North Beach is preferred by those who love the sand and surf but seek a quieter atmosphere than trendier sections of Miami Beach. North Beach is also the more affordable option when compared to South Beach and Mid-Beach, with a median sale price for homes at $255,000.