University of Miami median real estate price is $1,919,081, which is more expensive than 98.7% of the neighborhoods in Florida and 98.2% of the neighborhoods in the U.S.
The average rental price in University of Miami is currently $6,236, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 98.9% of the neighborhoods in Florida.
University of Miami is an urban neighborhood (based on population density) located in Coral Gables, Florida.
University of Miami real estate is primarily made up of small (studio to two bedroom) small apartment buildings and apartment complexes/high-rise apartments. Most of the residential real estate is renter occupied. Many of the residences in the University of Miami neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.
Vacant apartments or homes are a major fact of life in University of Miami. The current real estate vacancy rate here is 66.7%. This is higher than the rate of vacancies in 99.6% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.
When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.
People
In a nation where 1 out of every 4 children lives in poverty, the University of Miami neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.
In addition, an extraordinary 98.9% of the residents of the University of Miami neighborhood are currently enrolled in college. This is such a large part of life in this neighborhood that the neighborhood changes a great deal with the change of semesters and is far quieter during the summer when many students are away.
Also, one of the really interesting characteristics about the University of Miami neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 0.1% of college-friendly places to live in the state of Florida.
Real Estate
The University of Miami neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 100.0% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
In addition, three-deckers, duplexes, old Victorian homes cut up into apartments. Independent stores on the corner selling pizza. These are some of the hallmarks of neighborhoods with lots of small 2, 3, and 4 unit apartment buildings. The University of Miami neighborhood really stands out in this regard, however, as it is dominated by such small apartment buildings more than nearly any other neighborhood in America. This is a stunning visual and lifestyle example of this type of neighborhood. In fact, 66.7% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 99.6% of America's neighborhoods.
Furthermore, 100.0% of the real estate in the University of Miami neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America. Despite all of the residential real estate here in the University of Miami neighborhood, NeighborhoodScout has discovered that much of it is vacant. In resort or second-home vacation areas, this naturally occurs because homes and apartments are seasonally occupied, and empty for a portion of the year. In non-vacation or resort areas, however, this can be an indicator of property abandonment or a weak real estate market. The vacancy rate here is 66.7%, which is higher than 99.6% of all U.S. neighborhoods.
Modes of Transportation
More people in University of Miami choose to walk to work each day (41.4%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.
Occupations
From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the University of Miami neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 99.2% of all American neighborhoods.
Length of Commute
Whether walking, biking, riding, or driving, the length of one's commute is an important factor for one's quality of life. The University of Miami neighborhood stands out for its commute length, according to NeighborhoodScout's analysis. Residents of the University of Miami neighborhood have the pleasure of having one of the shortest commutes to work of any neighborhood in America. 58.3% of the residents have a commute time from home to work (one way) of less than fifteen minutes. This is a higher proportion of residents enjoying a short trip to work than NeighborhoodScout found in 95.5% of U.S. neighborhoods. Less time commuting means more time for other things in life.
Diversity
Did you know that the University of Miami neighborhood has more West Indian and Armenian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 0.3% of this neighborhood's residents have West Indian ancestry and 1.0% have Armenian ancestry.
Migration / Stability
The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. In the University of Miami neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.7% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.
The neighbors in the University of Miami neighborhood in Coral Gables are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 100.0% of U.S. neighborhoods. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America's neighborhoods.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the University of Miami neighborhood, 48.3% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 29.2% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (18.8%), and 3.7% in manufacturing and laborer occupations.
Languages
The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the University of Miami neighborhood is English, spoken by 80.5% of households. Other important languages spoken here include Spanish and Chinese.
Ethnicity / Ancestry
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.
In the University of Miami neighborhood in Coral Gables, FL, residents most commonly identify their ethnicity or ancestry as Asian (8.4%). There are also a number of people of Italian ancestry (4.1%), and residents who report Cuban roots (3.3%), and some of the residents are also of Irish ancestry (3.2%), along with some South American ancestry residents (2.5%), among others. In addition, 10.4% of the residents of this neighborhood were born in another country.
How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in University of Miami neighborhood spend under 15 minutes commuting one-way to work (58.3% of working residents), one of the shortest commutes across America.
Here most residents (41.4%) hop out the door and walk to work to get to work. In addition, quite a number also drive alone in a private automobile to get to work (32.2%) . This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.
