Once a haven for beatniks and hippies alike, Coconut Grove has steadily maintained a reputation as a community focused on relaxing. Although a bit more evolved from the bohemian culture it once attracted, the Grove is now peppered with condominiums and boutique storefronts, making sure the artistic vibe still shines through in this cultural pocket of yesteryear’s Florida.
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Located just south of downtown Miami’s bustling nightlife, Coconut Grove used to be known for it’s tea houses, head shops and laidback atmosphere. Though many of those businesses still remain, the Grove has seen big changes in its skyline. However, even developers have realized that the draw of the neighborhood is also its lifeblood: cozy streets lined with storefronts are made accessible with walkways and nearby parks.
It wouldn’t help to change much, so Coconut Grove has remained insulated from over-development by a strong community of artists and likeminded residents.
Miami is becoming an icon for reducing automobiles thanks to investments in public transportation, a railway system and linear parks. Coconut Grove, although smaller and less reliant on a thriving 24/7 industry, allows patrons to walk about the streets with ease. The streets that weave the neighborhood together are, by accounts on WalkScore, perfect for leaving the car in the driveway. Art galleries, coffee houses, restaurants and shops are all centrally located, making Coconut Grove a great shopping and people-watching destination.
In the same vein as public transportation and tourist-friendly sidewalks, there is also plenty of road space for bicycles.
Coconut Grove housing
Rounding out at an even $300,000, Coconut Grove slightly topples Miami’s overall median home value of $293,700. With traditional architecture combined with new developments in the past few decades, the average price per square foot comes to $261.
Obtaining a rental in the Grove might not as easy as neighboring Miami (where new skyscraper condos are sprouting like weeds across the skyline), but average rent is $3,950.
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As rent has slowly increased in the area, median home values have slowly leveled off from a spike in 2014. Rent prices peaked in April at around $5,700 — common with the tourism and the start of summer — but tempered in the past month, back down to around $4,000.
Life in Coconut Grove
With proximity to downtown, the Grove is serviced by both the Metrobus and the Miami Metrorail at multiple stations.
The CocoWalk is a common tourist destination point for dining and shopping. In the heart of Coconut Grove is the Village Center, which is where the brunt of the economic impact comes from the hyper-local economy.
Festivals and parades flood the streets each year celebrating the diverse cultures that make up the community.
Large municipal marinas allow for ample and affordable boat access, as the eastern portion of the Grove is Biscayne Bay.
