People often ask me about the next “hot” area, you know the neighborhoods that you can invest in before they become unaffordable and make a great return in the future. Unfortunately none of us have a crystal ball and if I could detect the next hot area with 100% certainty, I would probably be sipping rum on a Caribbean island rather than sitting at my desk writing this article. There are however some neighborhoods that I believe have great potential and could therefore be classified as up and coming. As usual, this is not investment advice, i.e. DO YOUR OWN RESEARCH before betting the farm on any of those neighborhoods.
Allapattah
Okay, I’ll admit it. I didn’t quite get the hype about Allapattah, but it’s a natural progression of the Wynwood Arts District. As Wynwood became commercialized (read: unaffordable for most of us) the arts community needed a new place to move into and Allapattah was ripe for the taking. This place is buzzing with energy. It’s rough around the edges, sure, but in that cool, artsy way that Wynwood was before it got all fancy.
Pro tip: Check out the fruit stands on 17th Avenue.
Little River
The place has this awesome, laid-back vibe. Plus, have you tried the cold brew at Panther Coffee’s new spot there? It’s close proximity to Midtown and places like Morningside, Belle Meade and Miami shores don’t hurt either. It’s definitely a place worth checking out.
West Coconut Grove
My favorite thing about West Grove ? You guessed it, it’s in Coconut Grove and in close proximity to all the great entertainment and dining Coconut Grove has to of Now? It’s transforming, but in this really respectful way. You’ve got cute little boutiques next to decades-old bodegas and all of that in a great location that definitely has massive future potential.
North Beach
North Beach has long been one of my favorites. Even 20 years ago, when I still lived in what is arguably North Beach’s grown up sibling (South Beach), I always thought of North Beach as the natural progression of overdeveloped, loud and busy South Beach. North Beach is a perfect mix of quiet areas and activity. Plus of course, it has the beach. And unlike in South Beach, you can still find affordable parking close to the beach for that occasional beach day with the family. When I need a break from the Miami hustle, I head up here, grab a spot on the sand, and just… breathe. It’s like a mini-vacation without leaving the city. And between you and me? The real estate here is a steal compared to its flashier southern neighbor.
Edgewater
Where else can you get these insane bay views, be minutes from downtown, and still feel like you’re in a neighborhood? Plus it’s grown up enough to have everything you need for day to day live (Publix anyone?)
Overtown
Alright, I know what you’re thinking. Overtown? Really, Thomas? But hear me out! This neighborhood has such rich history, and it’s finally getting the love and investment it deserves. If you don’t shy away from being a modern day pioneer, Overtown is another area to take a closer look at.
Upper East Side
This is one of my favorites ( I used to live there and only moved away to be closer to my kid’s schools). While I wouldn’t call most of this area up and coming anymore (it’s arrived many years ago), there are still pockets of the Upper East Side that are not 100% up to par yet and therefore offer opportunities for investment, improvement and outsized returns. Plus, you’ll get to enjoy a great lifestyle while you’re waiting for your property to increase in value.
Homestead
Okay, I know Homestead isn’t technically Miami anymore, but it’s close enough to deserve a mention. It’s got this cool, small-town vibe but with easy access to the city. Plus, being close to the Everglades is priceless if you enjoy this kind of unspoiled wilderness. Property prices in Homestead are still way below Miami, so if you’re looking for a bargain, this is a place to check out.
Little Havana
Little Havana is Miami. Period. The culture, the food, the music, this is the essence of what Miami embodies. And now, with all these cool new spots popping up alongside the traditional joints? It’s the best of both worlds. Grab a mojito at Ball & Chain, and you’ll see what I mean.
Doral
Last but not least, Doral. Known for it’s great schools, tons of green space, and some of the best Venezuelan food outside of Caracas. It’s perfect for families or anyone who wants a little breathing room. Plus, have you seen the new downtown Doral? It’s like a little city within a city! If you’ve never been to Doral, or haven’t been there in a few years, go back and check it out. It’s a far cry from the few spread out gated communities that one could find there 20 yrs ago. It has really grown up into a city worthy of any top ten list.
So there you have it, folks – my totally subjective, probably controversial list of Miami neighborhoods to watch. Did I miss your favorite spot?
Think I’m way off base? Let me know in the comments!
And hey, if you want to check out any of these areas in person, you know who to call.
