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We love ❤️ Miami and Miami Beach.
Follow us on Instagram for Miami neighborhood photos and free property price insights across worldwide neighborhoods. This post features Downtown Miami covering key places, rent, and property price trends.
Downtown Miami (reference Map 1) is a critical urban center with venues for sports, music, and high-rise residential building towers. In addition, American Airlines Arena (FTX arena) serves as the host venue for Miami-Heat basketball games, and Brickell City Center is a one-stop destination for shopping. The insights in this blog use parcel data from Regrid and rental data from RealPage, Inc.
Brickell with its high rise offices, apartments serves as a key financial center for South Florida. There are some amazing views from Brickell and Downtown which are part of the appeal to stay and work in these neighborhoods.
Downtown Miami : NURALL Analysis
Property Types: Looking across ~1700 properties, we see the average property price ~604 K (for 2021); the property values have been increasing at a steady clip with 7% appreciation over the last three years.
Averages don’t show the entire story as an extensive range of property types cover this region. There are around 160 properties assessed for more than One Million Dollars and geographically concentrated in the Brickell Hammock neighborhood areas.
Apartment Rents: For Downtown Miami, the average rent is $1829 for a one-bedroom and $2876 for a three-bedroom apartment. (reference: Table 1)
Miami downtown is more expensive to rent than other places in the metro. Rents across the Miami Metro area range from $1462 for a one-bedroom to $2187 for a three-bedroom apartment. (reference: Table 2)
Walkability: Given a downtown urban center, we also look at walkability as an additional factor. Miami Downtown has a high walk index score, reference.
Summary: With multiple places to shop, eat, and venues for basketball games, music, and beautiful ocean views, Miami Downtown is a fun and happening place. We hope the property insights help you in further exploring the Miami Downtown neighborhood.
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With Respect, Ravi