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The best South Florida neighborhoods for the value

by Chelsea Niaz

miami-top-10-luxury-real-estate-housing-market-boca-raton

Trulia released a list of America’s best value neighborhoods Friday that detailed the 100 biggest metros’ values. Trulia’s list considered first-time buyers and where in the country they could get the best value for their money.

Neighborhoods were not just ranked on price, but a combination of listing prices, entry-level affordability, school information, crime statistics, commute times and other amenities like restaurants. What resulted was a list of neighborhoods with the best livabilities among America’s most expensive metros.

Suburb Not City Living

The rankings come during a shift among millennials who choose to live in the suburbs versus cities. According to Zillow, 50 percent of millennials live in the suburbs while 20 percent live in rural areas. The percentage of millennials living in the suburbs speaks to a pattern of migration away from cities and into the suburbs because of more affordable options.

For the Miami area, the best neighborhood was Flamingo Park which scored an affordability score of seven, restaurant rank of five, commute rank of seven, school rank of ten and crime rank of nine. Trulia’s list also included the median home values within neighborhoods, Flamingo Park’s was $220,942.

Instead of there being a dead last neighborhood, the list features two neighborhoods vying for the ninth spot: Driftwood and Melrose Park. Both neighborhoods’ individual rankings (affordability, restaurants, commute, etc.) equaled the same amount placing them all at the same value level.

Safety measure in Miami neighborhoods, labeled crime rank in Trulia’s data, were consistently high while the commute rank was 60 out of 100. The commute rank for all the neighborhoods never went above seven, a low score considering Miami’s metro popularity.

 

Rank City Neighborhood Median Home Value
1 Melrose Vista Flamingo Park $220,942
2 Melrose Vista Riverland Village $267,140
2 Fort Lauderdale Bal Harbour $267,609
2 Coral Springs The Dells $280,731
5 Melrose Vista River Run $251,361
5 Miramar The Village of Renaissance $279,440
5 Fort Lauderdale Flagler Heights $284,848
5 Fort Lauderdale Poinsettia Heights $368,278
9 Hollywood Driftwood $234,576
9 Melrose Vista Melrose Park $214,849

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