Florida Trendy Neighborhood Is Among The Most Expensive
We are well aware that the cost of living, especially in major markets, has been on the rise. Yet many big cities still have unique characteristics that set them apart. Architectural Digest recently combined these two factors to create a list of the most expensive trendy city areas, and a Florida neighborhood was named.
There’s good news to this and not-so-good news. To start, the Wynwood, Miami area featured here, has a traditional charm to it. It combines that comfortable, neighborly feel, yet it’s modern enough to draw in residents from all over. The bad news is that it is very pricey.
“Living in the trendiest neighborhoods in the United States often means you’ll have to forgo a walk-in closet, designated parking space, and even an in-unit washer and dryer,” the article states.
However, in order to determine the lifestyle cost in these trendy cities, Architectural Digest assumed the residents still had enough cash (after living expenses) to have fun. Therefore, they assumed the average resident would splurge on certain habits. This includes attending shows, art exhibits, local coffee shops, and restaurants weekly.
The Wynwood Miami Neighborhood Requires The Seventh Highest Income
To be exact, Architectural Digest found that you need a salary of $97,200 to afford monthly rent. This would enable you to partake in the aforementioned neighborhood activities. Perhaps the most interesting factor is that 31% of a Wynwood resident’s income would go towards entertainment if you went out to dinner, grabbed coffee, and went to shows weekly. Aside from the average $2,430 monthly rent, this report estimates a dinner for one in the Wynwood is roughly $46.
This trendy neighborhood in Florida that was considered one of the more expensive areas, was only joined by Old Fourth Ward in Atlanta, representing the southern region of the country. Williamsburg, Brooklyn, ranked number one with a $170,000 annual salary needed.