People who want that small-town feel but also want to be close to the big city will fall in love with Surfside, a tight-knit town tucked between Bal Harbour and North Beach. Surfside features wide oceanfront views, world-class restaurants, homegrown businesses, and some of Miami’s most serene beaches. It’s such a charming community that it attracts visitors to its shores every year. It’s the 6,086th largest city in the entire country with under 6,000 residents.
What types of properties can you find in Surfside?
While its neighbor Sunny Isles Beach is home to many resort-condominium communities, you’ll find mostly standalone homes in the town of Surfside (but it still has its fair share of oceanfront condos). You can take your pick as to what property type to invest in. Whether you want a condo on Collins Avenue or a three-bedroom home on Byron Avenue, you’re sure to find the perfect investment property with the help of a Surfside property management firm.
As an investor, you’re probably wondering whether or not it would be better to buy a home than to rent in Surfside. Based on data from Apartment Guide, homeowners outnumber renters by a slim margin of 54% to 47%. While there are more owner-occupied properties, this isn’t bad news for potential rental owners – remember, Surfside is also a popular vacation spot.
What are the current rental rates in Surfside?
Wondering how much money you can make from rental income in Surfside? According to Zumper.com, the median rent in Surfside is $2,950 a month with a 5% year-over-year change. This is slightly more than South Florida’s average monthly rent of $2,841.
Do note, however, that your rental rate will be dependent on many factors such as the location and amenities. For instance, you can charge considerably more if your rental is in a condominium unit by the water (there are listings on Apartments.com that go for as much as $14,000!).
Who are your potential tenants in Surfside?
If you choose to purchase a rental property in Surfside, here’s what your market will look like:
- The median age is 43.
- There are more women than men in Surfside. 54.99% of women make up the town’s total population.
- Most of Surfside’s residents were born in the U.S. Only 35.8% are citizens not born in the country.
- Self-employed people (aka entrepreneurs) make up 23.3% of the workforce.
- 25% of Surfside households are family units, while 41.75% are non-family units.
- Only 33.61% of Surfside households have children.
- Surfside households earn around $104,094 a year. That’s more than the state average of $57,703.
However, it’s worth mentioning that Surfside’s population has declined by -0.21% since the 2020 census. With that in mind, you might want to invest in vacation rentals as there isn’t a lot of demand for year-round rental properties. Consult a property management company to pin down what type of property aligns with your investment goals.
Is Surfside a good place to live?
#1 Small-town yet diverse feel
Surfside is a close-knit community. Everyone knows everyone, making it the perfect place for people who want to make new friends and connect with others. And although it’s a quaint town, it’s quite diverse.
#2 Waterfront views
Not only does Surfside boast a backdrop of the Atlantic Ocean, but it has mile-long beaches where people come out to work out and wind down. The best part is that its sandy beaches don’t feel crowded as compared to Miami’s popular spots such as South Beach.
#3 Open spaces
Residents in Surfside can access hundreds of open areas where they can immerse themselves in nature. To the south at North Beach is the North Beach Oceanside Park, a popular dog park that features walking paths that take you through tropical flora. Another spot that Surfside locals love is the Oleta River State Park, where you can spend your afternoon kayaking.
#4 Plenty of shopping options
You’ll find a vast range of shopping options, particularly on Harding Avenue. From flowers to fashion, you’ll find everything you’d ever need in Surfside. And don’t worry – it may be a small town but it still has a Starbucks!
#5 Upscale restaurants
Discover a vast array of locally run restaurants that cater to all tastes. Whether you want traditional American treats or Southeast-Asian dishes, Surfside’s sure to have it somewhere. But perhaps what sets Surfside apart is its representation of Jewish cuisine. Countless kosher restaurants, delis, etc. line sidewalks, such as Rustiko, Kosh, and Cafe Vert.
#6 Close distance to Downtown Miami
Surfside is a 30-to-45-minute drive away from Downtown Miami, so commuting to and from work is very doable. In fact, many professionals who work in the city choose to live in Surfside so they can escape the fast-paced lifestyle.
#7 Welcoming to the Jewish community
Surfside is very welcoming toward the Jewish community. In fact, it has been touted as Miami’s most Jewish neighborhood. It’s also home to the Aleph Institute, a Jewish organization that provides support to Jewish prisoners and people with family members behind bars.
Why invest in a Surfside vacation home?
Ultimately, it’s up to you to decide what type of property you want to invest in. However, considering the current data, it might be more logical to invest in a second home that doubles as your vacation home. Surfside is a popular vacation spot, so you won’t have a hard time renting it out, especially if your property is in front of the water or on Collins Avenue. You can rent it out in the peak season and then use it for personal purposes for the rest of the year.
Furthermore, vacation homes tend to increase in value faster than other property types. That means you can get a great resale value for your vacation home even if you sell it in a few years.
Searching for a surfside property management firm?
Bear in mind that the information in this article may no longer be accurate by the time you read it. If you’re planning on purchasing a Surfside property, first seek the advice of a Surfside real estate professional as they’ll have up-to-date data.
At Luxury Property Care, you’re guaranteed to get expert advice on your Surfside real estate investment. Call us at (561) 944 – 2992 or complete our contact form to discuss your investment goals and design an investment strategy with one of our advisors today.