If you are considering moving to Florida, or just want to stay in the city and invest in real estate, but you prefer to maintain an affordable cost of living, it is important to evaluate the options. Although the state is known for its warm climate and quality of life, some areas offer more affordable housing prices compared to others, whether for purchase or rent. So looking for options is advisable, here we have five places to live in Florida, with easy access to Miami, and where the cost of living is not so high:
The first of these is Hialeah, where according to Chad Phillis, founder and CEO of Checkmate Rentals, “the average home price in this city is around $325,000 and Hialeah’s best feature is its access to Miami via I-95 and its expanding Metrorail system.”
“Personalities among both investors and residents have become admirers of Hialeah’s vibrant community and its affordability by market standards,” he added.
The city known for its Cuban-American community is also known for having a growing economy, with a focus on commerce, manufacturing, and technology. Despite being known for its affordability in terms of housing, Hialeah has been investing in improving its infrastructure, making it an attractive location for both residents and investors.
Second place goes to Hollywood, described by Compass Vice President Nancy Batchelor as “an off-the-radar gem, close to everything – great shopping, restaurants, beaches, schools – but you can live there for a fraction of the cost. The area is much more affordable than Miami.”
Batchelor also noted that "perfectly positioned between the energy of Miami and the quiet elegance of Fort Lauderdale, Hollywood is a global destination with visitors coming to stay along the historic Atlantic oceanfront boardwalk, which features shops, restaurants and accommodations to suit all tastes and budgets."
Palmetto Bay has managed to place itself in third place on the list, located just 20 miles south of Miami, offering single-family homes that, although at the upper end of the national median home price ($420,000), still provide real options within that range.
Likewise, this area is recognized for its highly-rated schools, a family-friendly environment, as well as its coastal access, which have made Palmetto Bay a very attractive option for buyers.
Miami Gardens ranks fourth, being one of the most affordable options for those who want to be close to the city without paying Miami prices, said Mark Sanchez, founder and real estate manager of Tropic Residential.
Located 16 miles north of Miami, the average rent for a one-bedroom apartment is around $1,705 a month, significantly affordable for the city of exile.
Miami Gardens is also home to Hard Rock Stadium, which ensures there are always events and activities going on, said Dan Richards, president of Flyhomes Mortgage.
"Many professionals who work in Miami choose to live here, as they can enjoy more space and a quiet neighborhood, without being too far from the center, just a few minutes by car," said Sánchez.
And finally, North Miami, which “combines urban bustle with suburban convenience,” has homes with an average cost of $400.000, said Phillis, who also praised the great advantage of its proximity to I-95, which allows easy access to other areas of Miami, making travel to the city center quick and convenient.
The city also has a wide variety of parks and recreational areas, making it an ideal place for families. And while it doesn't have the same hustle and bustle as downtown Miami, North Miami has a vibrant life with many events, festivals and community activities that make it interesting and welcoming.
