Last month, realtor.com named Downtown Miami a “boom town”: one of the fastest growing neighborhoods in the United States. They looked at job creation, household formation and new construction to identify which neighborhoods in the country are growing the most quickly. The up and coming Downtown Miami was named fourth.
“The markets we chose are the areas that are experiencing the most balanced growth. They are seeing the job creation that leads to the country’s greatest growth in households,” says Jonathan Smoke, realtor.com’s chief economist, who led the analysis. “But they are also seeing more new construction, which is needed to enable the forecasted growth.”
This is the full list:
- Power Ranch, Gilbert, Arizona
- Historic Cultural Center of Los Angeles, California
- Downtown Dallas, Texas
- Downtown Miami, Florida
- Mountain’s Edge, Las Vegas, Nevada
- Belltown, Seattle, Washington
- Village Rolesville, North Carolina
- Williamsburg, Brooklyn, New York
- The Loop, Chicago, Illinois
- Atlantic Station, Atlanta, Georgia
Miami is expected to see a five-year household growth of 14.9 percent.
“Sure, Miami is hot: Hot weather, hot nightlife, hot housing. But compared with South Beach and its legendary party scene, Miami’s downtown, midtown, and port areas used to be far less exciting at night—or just about at any time, really. But in recent years, urban development with projects such as Miami World Center have brought tens of thousands of new residents to the area. Millennial professionals are attracted to the nightlife, restaurants, and shopping, as well as the ability to walk to work,” wrote realtor.com
Clearly, downtown Miami is a great place to be, with new residential buildings to accompany a wonderful cultural area of fun, great eating, and shopping. The ability to walk to work is also a huge plus. RE/MAX Paradise is excited to offer beautiful homes for sale in the up and coming Downtown Miami! We have amazing condos with beautiful views and top of the line features.