Grand Lakes median real estate price is $757,532, which is more expensive than 79.4% of the neighborhoods in Florida and 80.4% of the neighborhoods in the U.S.
The average rental price in Grand Lakes is currently $4,652, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 94.5% of the neighborhoods in Florida.
Grand Lakes is an urban neighborhood (based on population density) located in Miami, Florida.
Grand Lakes real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Grand Lakes neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
In Grand Lakes, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Grand Lakes is very tight compared to the demand for property here.
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 Grand Lakes neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Real Estate
This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the Grand Lakes neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.
In addition, if you like the look and ambience of new homes and newly built neighborhoods, you will love the Grand Lakes neighborhood. A whopping 90.9% of the homes and other residential real estate here were built after 1999, which is a higher proportion of new homes then you will find in 98.9% of the neighborhoods in the U.S. Everything here just feels new. In fact, the concentration of newer homes here is so great that they completely dominate the landscape. In most neighborhoods, there is a mixture of ages of residential real estate, but here it is almost completely built during one time frame: 2000 through today.
Furthermore, many people dream of living along a street lined with row houses or other attached homes. Such places do often have an abundance of charm. If you are one of these people, the Grand Lakes neighborhood could be your paradise. With 32.1% of the homes and real estate here classified as rowhouses or other attached homes, this neighborhood brims with opportunity to find the right place for you. Only 2.9% of U.S. neighborhoods have more row houses than this neighborhood, making it one of the most interesting things about this special neighborhood.
People
In a nation where 1 out of every 4 children lives in poverty, the Grand Lakes neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.
In addition, a majority of the adults in the Grand Lakes neighborhood are wealthy and educated executives. They own stately homes that tend to maintain high real estate appreciation rates. Their upper-level careers keep them busy, but allow them to live comfortably. If you're an executive and want to keep similar company, consider settling in this neighborhood, rated as an executive lifestyle "best choice" neighborhood for Florida by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 97.2% of the neighborhoods in Florida. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for college students.
Also, astoundingly, the Grand Lakes neighborhood has one of the highest concentrations of divorcees living here than of any neighborhood, a higher concentration than NeighborhoodScout found in 95.7% 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 neighborhood.
Car Ownership
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 Grand Lakes neighborhood has a highly unusual pattern of car ownership. Residents of this neighborhood must really love automobiles. NeighborhoodScout's Analysis reveals that 40.1% of the households here have four, five, or more cars. That is more cars per household than in 98.2% of the neighborhoods in the nation.
Diversity
Did you know that the Grand Lakes neighborhood has more Cuban and South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 43.1% of this neighborhood's residents have Cuban ancestry and 15.7% have South American ancestry.
Grand Lakes is also pretty special linguistically. Significantly, 88.8% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 99.5% of all U.S. neighborhoods.
Migration / Stability
Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Grand Lakes neighborhood. What is interesting to note, is that the Grand Lakes neighborhood has a greater percentage of residents born in another country (58.1%) than are found in 99.0% 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 Grand Lakes neighborhood in Miami are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 88.2% 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.
A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.
In the Grand Lakes neighborhood, 56.0% 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 17.1% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (13.8%), and 12.9% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the Grand Lakes neighborhood is Spanish, spoken by 88.8% of households. Some people also speak English (3.7%).
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 Grand Lakes neighborhood in Miami, FL, residents most commonly identify their ethnicity or ancestry as Cuban (43.1%). There are also a number of people of South American ancestry (15.7%), and residents who report Dominican roots (10.2%), and some of the residents are also of Puerto Rican ancestry (3.1%), along with some Ukrainian ancestry residents (2.1%), among others. In addition, 58.1% 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 Grand Lakes neighborhood spend between 30 and 45 minutes commuting one-way to work (43.8% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (85.1%) drive alone in a private automobile to get to work. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
