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The increasing presence of distributed energy resources (DERs) at the residential distribution grid level creates concerns regarding its successful integration without an appropriate market structure. The current market structure has been designed by not taking DERs into account. Nevertheless, the coexistence of generation and consumption at the premises of a neighborhood enables the creation of a local electricity market, a step towards the economical and technical integration of DERs. Numerous local electricity market designs have been proposed for different configurations of market participants, type of products, trading horizons, market rules, relations between the participants, degree of DERs penetration, and information and communication technologies (ICT) used. This paper focuses on these market designs, attempts to recognize the appropriate market design choices and proposes a local electricity market design in a neighborhood with the presence of inelastic loads, photovoltaic (PV) generators and small-scale energy storage.