The southern side of Miami includes Coral Way and Coconut Grove. Coral Way is a historic residential neighborhood built in 1922 connecting Downtown with Coral Gables, and is home to many old homes and tree-lined streets. Coconut Grove was established in 1825 and is the location of Miami's City Hall in Dinner Key, the Coconut Grove Playhouse, CocoWalk, many nightclubs, bars, restaurants and bohemian shops, and as such, is very popular with local college students. It is a historic neighborhood with many parks and gardens such as Villa Vizcaya, The Kampong, The Barnacle Historic State Park, and home of the Coconut Grove Convention Center, many of the country's most prestigious private schools, and numerous historic homes and estates.

The western side of Miami includes Little Havana, West Flagler, and Flagami, and is home to many of the city's traditionally immigrant neighborhoods. Although at one time a mostly Jewish neighborhood, today western Miami is home to immigrants from mostly Central America and Cuba, while the west central neighborhood of Allapattah is a multicultural community of many ethnicities.

The northern side of Miami includes Midtown, a district with a great mix of diversity with many West Indians, Hispanics, bohemians, artists, and Whites. Edgewater, and Wynwood, are neighborhoods of Midtown and are made up mostly of high-rise residential towers and are home to the Adrienne Arsht Center for the Performing Arts. The wealthier residents usually live in the northeastern part, in Midtown, the Design District, and the Upper East Side, with many sought after 1920s homes and home of the MiMo Historic District, a style of architecture originated in Miami in the 1950s. The northern side of Miami, also has notable African-American and Caribbean immigrant communities such as Little Haiti, Overtown (home of the Lyric Theater), and Liberty City.

The United Nations estimated that in 2007, Miami had become the fourth largest urbanized area in the United States, behind New York City, Los Angeles, and Chicago. Miami recently underwent a large building boom with 24 skyscrapers that have risen over 400 feet (122 m) c. Miami's skyline ranks third in the U.S., behind New York City and Chicago, and 18th in the world according to the Almanac of Architecture and Design. In 2008, Miami was ranked as "America's Cleanest City" according to Forbes Magazine for its year-round good air quality, vast green spaces, clean drinking water, clean streets and city-wide recycling programs. In 2008, Miami was also ranked the 3rd-richest city in the United States and the world's 22nd-richest city in a UBS study.

Miami is ranked as a global city for its importance in finance, commerce, media, entertainment, arts and international trade. The city is home to many company headquarters, banks, and television studios. It is an international center for popular entertainment in television, music, fashion, film, and the performing arts. The city's Port of Miami is known for accommodating the largest volume of cruise ships in the world and is home to many cruise line headquarters. Miami is also home to the largest concentration of international banks in the United States.