The 10 Cheapest Miami, FL Neighborhoods To Live In For 2019


We used science and data to determine which neighborhoods in Miami are the cheapest of the cheap.

Editor’s Note: This is our first time ranking the cheapest neighborhoods to live in Miami.
Cheapest Neighborhoods In Miami

Everything else equal, I think we can all agree that living in a cheaper place is better than living in a more expensive place.

I’d much rather pay $500/mo in rent than $1,000. And I’d rather pay $2 for coffee than $5.

And while every neighbhorhood in Miami might be more expensive than living in rural Florida, there are certain neighborhoods that are definitely cheaper.

So what exactly are those Miami neighborhoods where your dollar goes a little further — you can get that one bedroom instead of the studio?

Instead of relying on public opinion and speculation, we wanted to get the facts straight and find out which neighborhoods in Miami are the cheapest.

Here are the cheapest neighborhoods in Miami for 2019:

  1. Little Haiti (Homes)
  2. Wynwood (Homes)
  3. Downtown (Homes)
  4. Model City (Homes)
  5. Allapattah (Homes)

What’s the cheapest neighborhood to live in Miami for 2019? According to the most recent census data, Little Haiti looks to be the cheaptest Miami neighborhood to live in.

At this point we should make it clear that you do get what you pay for — some of these neighborhoods might not be the best places to live in Miami. You could be sacrificing location or crime rates in return for more space and cheaper groceries.

Read on to see how we determined the places around Miami that deserve a little bragging rights or maybe you’re interested in the worst neighborhoods in Miami.

Once you’re done, you can look at the bottom of the story for a complete chart of every neighborhood we looked at from cheapest to most expensive.

For more Florida reading, check out:

How We Determined The Cheapest Miami Hoods In 2019

In order to rank the cheapest places to live in Miami, we had to determine what criteria defines ‘cheap’.

Using census and extrapolated BLS data, we arrived at the following set of criteria:

  • Overall Cost Of Living
  • Rent To Income Ratio
  • Median Home Value To Income Ratio

We then ranked each neighborhood with scores from 1 to 13 in each category, where 1 was the cheapest.

Next, we averaged the rankings for each neighborhood to create a cheap neighborhood index.

And finally, we crowned the neighborhood with the lowest cheapest neighborhood index the ‘Cheapest City Neighborhood In Miami.’ We’re lookin’ at you, Little Haiti.

Read on below to learn more about what it’s like to live in the cheapest places Miami. Or skip to the end to see the list of all the neighborhoods in the city from cheapest to most expensive.

The 5 Cheapest Neighborhoods To Live In Miami For 2019

Little Haiti Miami, FL

Overall SnackAbility

5
/10

Population: 33,229
Cost Of Living Index: 90 (1st cheapest)
Home Value To Income Ratio: 3.3 (2nd cheapest)
Rent To Income Ratio: 0.031 (8th cheapest)
More on Little Haiti: Homes For Sale | Data

Little Haiti is a neighborhood of Miami, Florida, United States. It is known historically as Lemon City, Little River and Edison. It is home to many Haitian immigrant residents, as well as many residents from the rest of the Caribbean. The fastest growing group in the area is Hispanic.

The median income in Little Haiti comes in at $26,753 and the median home value is $88,621 for 2019.

Wynwood Miami, FL

Source: Public domain
Overall SnackAbility

7
/10

Population: 17,923
Cost Of Living Index: 102 (7th cheapest)
Home Value To Income Ratio: 2.9 (1st cheapest)
Rent To Income Ratio: 0.024 (5th cheapest)
More on Wynwood: Homes For Sale | Data

Wynwood is a neighborhood in Miami, Florida. Wynwood is best known for being a prominent entertainment district, dotted with artwork, restaurants, breweries, clothing stores, dance venues, among other retail options. Formerly an industrial district, the area is highlighted by colorful murals that cover the walls of many of the buildings. It is north of Downtown Miami and Overtown, and adjacent to Edgewater. The Wynwood Art District is one of the most popular sites to visit in the heart of Miami, Florida. Wynwood has two major sub-districts, the Wynwood Art District in northern Wynwood, and the Wynwood Fashion District along West 5th Avenue. Wynwood is roughly divided by North 20th Street to the south, I-195 to the north, I-95 to the west and the Florida East Coast Railway to the east.

The median income in Wynwood comes in at $53,417 and the median home value is $156,805 for 2019.

Downtown Miami, FL

Overall SnackAbility

8.5
/10

Population: 30,065
Cost Of Living Index: 115 (9th cheapest)
Home Value To Income Ratio: 3.8 (3rd cheapest)
Rent To Income Ratio: 0.018 (3rd cheapest)
More on Downtown: Homes For Sale | Data

Downtown Miami is an urban city center, based around the Central Business District of Miami, Florida, United States. In addition to the central business district, the area also consists of the Brickell Financial District, Historic District, Government Center, Omni and Park West. The neighborhood is divided by the Miami River and is bordered by Midtown to the north, Biscayne Bay to the east, Civic Center and Overtown to the west, and Coconut Grove to the south.

The median income in Downtown comes in at $71,374 and the median home value is $273,208 for 2019.

Overall SnackAbility

4
/10

Population: 25,023
Cost Of Living Index: 91 (2nd cheapest)
Home Value To Income Ratio: 3.9 (4th cheapest)
Rent To Income Ratio: 0.033 (10th cheapest)
More on Model City: Homes For Sale | Data

The median income in Model City comes in at $24,443 and the median home value is $94,396 for 2019.

Overall SnackAbility

6
/10

Population: 48,321
Cost Of Living Index: 92 (4th cheapest)
Home Value To Income Ratio: 4.6 (5th cheapest)
Rent To Income Ratio: 0.034 (11th cheapest)
More on Allapattah: Homes For Sale | Data

The median income in Allapattah comes in at $23,663 and the median home value is $107,909 for 2019.

Summing Up The Cheapest Places In Miami

If you’re measuring the neighborhoods in Miami where prices are low and it’s cheap to live, this is an accurate list.

As we mentioned earlier, the neighborhoods in Miami aren’t all cheap. West Flagler takes the title of the most expensive neighborhood to live in Miami.

We ranked the neighborhoods from cheapest to most expensive in the chart below.

For more Florida reading, check out:

Detailed List Of The Cheapest Neighborhoods To Live In Miami For 2019

Rank Neighborhood Cost Of Living Index
1 Little Haiti 90
2 Wynwood 102
3 Downtown 115
4 Model City 91
5 Allapattah 92
6 Flagami 98
7 Overtown 91
8 South Coconut Grove 142
9 North Coconut Grove 153
10 Little Havana 94
11 Upper Eastside 120
12 Coral Way 120
13 West Flagler 108

About Chris Kolmar

Chris Kolmar has been in the real estate business for almost ten years now. He originally worked for Movoto Real Estate as the director of marketing before founding HomeSnacks.

He believes the key to finding the right place to live comes down to looking at the data, reading about things to do, and, most importantly, checking it out yourself before you move.

If you've been looking for a place to live in the past several years, you've probably stumbled upon his writing already.

You can find out more about him on LinkedIn or his website.

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