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Real Estate Prices & Overview

SW 5th Ter / SW 55th Ave median real estate price is $690,235, which is more expensive than 80.8% of the neighborhoods in Florida and 79.5% of the neighborhoods in the U.S.

The average rental price in SW 5th Ter / SW 55th Ave is currently $2,825, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 41.8% of Florida neighborhoods.

SW 5th Ter / SW 55th Ave is a densely urban neighborhood (based on population density) located in Miami, Florida.

SW 5th Ter / SW 55th Ave real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the SW 5th Ter / SW 55th Ave neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

Real estate vacancies in SW 5th Ter / SW 55th Ave are 5.5%, which is lower than one will find in 63.1% of American neighborhoods. Demand for real estate in SW 5th Ter / SW 55th Ave is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

Notable & Unique Neighborhood Characteristics

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Miami, the SW 5th Ter / SW 55th Ave neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

The SW 5th Ter / SW 55th Ave neighborhood stands out within Florida for its college student friendly environment. NeighborhoodScout's analysis reveals that this neighborhood is home to a number of college students, is relatively walkable, and above average in safety. In combination, this makes it stand out for a good place for college students to consider. Because a number of college students live here, this neighborhood may be close to a college campus and offer certain amenities nearby geared towards the student body. While it's not an environment for everyone, ambitious scholars can enjoy seasonal excitement between semesters and school breaks, and parents can rest easy knowing that the area has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 7.8% of college-friendly places to live in FL.

Diversity

Did you know that the SW 5th Ter / SW 55th Ave neighborhood has more Cuban and Portuguese ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 60.8% of this neighborhood's residents have Cuban ancestry and 4.4% have Portuguese ancestry.

SW 5th Ter / SW 55th Ave is also pretty special linguistically. Significantly, 95.5% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 99.9% of all U.S. neighborhoods.

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 SW 5th Ter / SW 55th Ave neighborhood has a greater percentage of residents born in another country (61.6%) than are found in 99.3% of all U.S. neighborhoods.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the SW 5th Ter / SW 55th Ave neighborhood in Miami are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 51.0% of the neighborhoods in America. In addition, 1.7% 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 76.4% 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 SW 5th Ter / SW 55th Ave neighborhood, 33.1% 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 28.2% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (25.1%), and 13.6% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the SW 5th Ter / SW 55th Ave neighborhood is Spanish, spoken by 95.5% of households. Some people also speak English (4.1%).

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 SW 5th Ter / SW 55th Ave neighborhood in Miami, FL, residents most commonly identify their ethnicity or ancestry as Cuban (60.8%). There are also a number of people of Spanish ancestry (7.5%), and residents who report South American roots (6.4%), and some of the residents are also of Portuguese ancestry (4.4%), along with some Dominican ancestry residents (3.3%), among others. In addition, 61.6% of the residents of this neighborhood were born in another country.

Getting to Work

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 SW 5th Ter / SW 55th Ave neighborhood spend between 30 and 45 minutes commuting one-way to work (49.9% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (73.9%) 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 (14.5%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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Crime includes:
Neighborhood Crime Index
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Schools include:
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