Bal Harbour is a small village at the northern tip of the barrier island that also includes Miami Beach farther south. The permanent population hovers around 3,000 people, but the stunning beaches and year-round warm weather make the area immensely popular with tourists as well. The Bal Harbor Shops feature a selection of upscale retailers that attract folks from around the area, and the nearby Publix allows you to grab your groceries without having to leave the island.

The local rental market includes both high-rise condos on the ocean side and suburban-style houses facing the Intracoastal Waterway, but the compact layout of the community ensures that no matter where you live, you can easily walk anywhere in town.