Downtown median real estate price is $868,722, which is more expensive than 90.0% of the neighborhoods in Florida and 86.9% of the neighborhoods in the U.S.
The average rental price in Downtown is currently $3,657, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 87.0% of the neighborhoods in Florida.
Downtown is a densely urban neighborhood (based on population density) located in Miami, Florida.
Downtown 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 renter occupied. Many of the residences in the Downtown neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.
Vacant apartments or homes are a major fact of life in Downtown. The current real estate vacancy rate here is 32.3%. This is higher than the rate of vacancies in 95.9% 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.
Of note is NeighborhoodScout's research finding that the Downtown neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Downtown community truly stands out from the rest in this regard.
In addition, one of the most interesting things about the Downtown neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 69.7% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 99.7% of the neighborhoods in America.
Also, an extraordinary 13.9% of the residents of the Downtown 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.
Finally, with a nice mix of college students, safety from crime, and decent walkability, the Downtown neighborhood rates highly as a college student friendly place to live, and one that college students and their parents may want to consider. NeighborhoodScout's analysis shows that it rates more highly for a good place for college students to live than 86.6% of the neighborhoods in FL. This often also means that the area has certain amenities and services geared towards college students, from undergraduates to graduate students.
The real estate in the Downtown neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 98.9% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 99.8% of American neighborhoods.
In addition, the Downtown 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 99.0% 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.
Furthermore, homes built from 2000 through today make up a higher proportion of the Downtown neighborhood's real estate landscape than 96.4% of the neighborhoods in America. When you are driving around this neighborhood, you'll notice right away that it is one of the newest built of any, with the smell of fresh paint, and the look of young landscaping nearly everywhere you look. In fact, 75.0% of the residential real estate here is classified as newer.
Also of note, renter-occupied real estate is dominant in the Downtown neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 84.3%, which is higher than 95.2% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so. Vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 32.3% of the residential real estate vacant, the Downtown neighborhood claims the distinction of having a higher vacancy rate than 95.9% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.
If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 5.8% of residents in the Downtown neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 98.7% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.
Also, more people in Downtown choose to walk to work each day (19.3%) 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.
We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the Downtown neighborhood has a highly unusual pattern of car ownership. 34.4% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.6% of U.S. neighborhoods.
There are more people living in the Downtown neighborhood employed as sales and service workers (59.0%) than almost any neighborhood in the country. From fast-food service workers to major sales accounts, sales and service workers make up the largest proportion of our national employment picture. But despite that size and importance nationally, this neighborhood still stands out as unique due to the dominance of people living here who work in such occupations.
Did you know that the Downtown neighborhood has more South American and Cuban ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 32.1% of this neighborhood's residents have South American ancestry and 16.3% have Cuban ancestry.
Downtown is also pretty special linguistically. Significantly, 5.3% 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 99.8% of the neighborhoods in America.
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 Downtown neighborhood has a greater percentage of residents born in another country (53.0%) than are found in 98.2% 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 Downtown neighborhood in Miami are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 68.2% 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 Downtown neighborhood, 41.0% 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 33.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (18.1%), and 7.3% 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 Downtown neighborhood is Spanish, spoken by 62.2% of households. Other important languages spoken here include English, Portuguese and Russian.
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 Downtown neighborhood in Miami, FL, residents most commonly identify their ethnicity or ancestry as South American (32.1%). There are also a number of people of Cuban ancestry (16.3%), and residents who report Italian roots (6.5%), and some of the residents are also of German ancestry (4.7%), along with some Russian ancestry residents (4.0%), among others. In addition, 53.0% of the residents of this neighborhood were born in another country.
Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Downtown neighborhood spend between 15 and 30 minutes commuting one-way to work (65.2% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (43.6%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (19.3%) and 12.0% of residents also carpool with coworkers, friends, or neighbors for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
