Oceanfront median real estate price is $1,162,084, which is more expensive than 86.4% of the neighborhoods in Florida and 85.7% of the neighborhoods in the U.S.
The average rental price in Oceanfront is currently $4,801, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 95.4% of the neighborhoods in Florida.
Oceanfront is a densely urban neighborhood (based on population density) located in Miami Beach, Florida. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).
Oceanfront real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Oceanfront neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 2000 and the present.
Vacant apartments or homes are a major fact of life in Oceanfront. The current real estate vacancy rate here is 48.1%. This is higher than the rate of vacancies in 98.5% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (40.4%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
Real Estate
If you like crowded places, then you will probably enjoy the the Oceanfront neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 95.5% of neighborhoods in the U.S., with 22,424 people per square mile living here. Do you like a coastal setting? If so, this neighborhood may be to your liking. The Oceanfront neighborhood is on the ocean, a bay, or inlet. Often such coastal places have amenities and recreational activities on the waterfront that are attractive to residents and visitors alike. In addition to being coastal, Oceanfront is a very nautical neighborhood, meaning that it is somewhat historic, walkable, densely populated and on the water. This gives the neighborhood a very nautical feel, with some seaside and shipping feel, which some may really enjoy the sights and sounds of.
In addition, one of the really unique and interesting things about the look and setting of the Oceanfront neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 97.7% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 99.6% of all neighborhoods in America.
Furthermore, despite all of the residential real estate here in the Oceanfront 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 48.1%, which is higher than 98.5% of all U.S. neighborhoods.
Also of note, the Oceanfront 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 83.9% 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.
People
In a nation where 1 out of every 4 children lives in poverty, the Oceanfront neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.
In addition, astoundingly, the Oceanfront neighborhood has one of the highest concentrations of divorcees living here than of any neighborhood, a higher concentration than NeighborhoodScout found in 99.1% of U.S. neighborhoods. This may be because people living here divorce more often than others, or that divorced people move here after they become divorced. If you are divorced, you will be in good company in this particular Miami Beach neighborhood.
Also, if knowledge is power, then imagine the cumulative power of one neighborhood where many of the adults have earned an advanced degree, such as a Masters, law degree, medical degree, or even a Ph.D. This is certainly the case in the Oceanfront neighborhood, where 39.4% have earned an advanced degree. Compare that to the average neighborhood in America, where just 13.4% of adults have completed a post-graduate degree, and you can see why this neighborhood is a stand out. In fact, this neighborhood has a higher rate of adults with an advanced degree than 96.8% of the neighborhoods in America.
Modes of Transportation
A unique way of commuting is simply not to. And in the Oceanfront neighborhood, analysis shows that 41.3% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 99.6% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.
Diversity
Did you know that the Oceanfront neighborhood has more Portuguese and South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 8.7% of this neighborhood's residents have Portuguese ancestry and 22.8% have South American ancestry.
Oceanfront is also pretty special linguistically. Significantly, 3.5% of its residents five years old and above primarily speak Russian at home. While this may seem like a small percentage, it is higher than 99.5% of the neighborhoods in America.
Migration / Stability
Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. What is interesting to note, is that the Oceanfront neighborhood has a greater percentage of residents born in another country (59.3%) than are found in 99.1% of all U.S. neighborhoods.
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 Oceanfront neighborhood in Miami Beach are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 82.4% of the neighborhoods in America. 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 Oceanfront neighborhood, 66.2% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 19.7% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (9.9%), and 4.2% in clerical, assistant, and tech support 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 Oceanfront neighborhood is Spanish, spoken by 49.1% of households. Other important languages spoken here include English, Portuguese and Russian.
Ethnicity / Ancestry
Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.
In the Oceanfront neighborhood in Miami Beach, FL, residents most commonly identify their ethnicity or ancestry as South American (22.8%). There are also a number of people of Italian ancestry (22.4%), and residents who report Cuban roots (13.9%), and some of the residents are also of Portuguese ancestry (8.7%), along with some Russian ancestry residents (6.1%), among others. In addition, 59.3% 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 Oceanfront neighborhood spend between 15 and 30 minutes commuting one-way to work (58.3% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (49.3%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (6.7%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
