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Real Estate Prices & Overview

The Hammocks East median real estate price is $615,761, which is more expensive than 71.9% of the neighborhoods in Florida and 73.5% of the neighborhoods in the U.S.

The average rental price in The Hammocks East is currently $4,939, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 95.6% of the neighborhoods in Florida.

The Hammocks East is an urban neighborhood (based on population density) located in Miami, Florida.

The Hammocks East 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 The Hammocks East neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

In The Hammocks East, 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 The Hammocks East is very tight compared to the demand for property here.

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 The Hammocks East neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

With a real estate vacancy rate of only 0.0%, the The Hammocks East neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.

In addition, most neighborhoods are composed of a mixture of ages of homes, but the The Hammocks East stands out as rather unique in having nearly all of its residential real estate built in one time period, namely between 1970 and 1999, generally considered to be established, but not old housing. What you'll sense when you look around or drive the streets of this neighborhood is that many of the residences look the same because of this similarity of age. In fact, 98.7% of the residential real estate here was built in this one time period.

Modes of Transportation

Our research reveals that 90.6% of commuters who live in the The Hammocks East neighborhood get to work each day by driving alone in their automobiles, which is a higher proportion than 97.1% of U.S. neighborhoods.

People

The The Hammocks East 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 9.9% of college-friendly places to live in FL.

Diversity

Did you know that the The Hammocks East neighborhood has more Cuban and South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 47.8% of this neighborhood's residents have Cuban ancestry and 20.7% have South American ancestry.

The Hammocks East is also pretty special linguistically. Significantly, 76.6% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 98.2% of all U.S. neighborhoods.

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. More residents of the The Hammocks East neighborhood live here today that also were living in this same neighborhood five years ago than is found in 96.5% of U.S. neighborhoods. This neighborhood is really made up of people who know each other, don't move often, and have lived here in this very neighborhood for quite a while. What is interesting to note, is that the The Hammocks East neighborhood has a greater percentage of residents born in another country (60.9%) than are found in 99.3% of all U.S. neighborhoods.

The Neighbors

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 The Hammocks East 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 55.1% of the neighborhoods in America. With 45.0% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 91.9% of U.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 The Hammocks East neighborhood, 38.0% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 24.2% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (22.2%), and 15.6% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

Languages

The most common language spoken in the The Hammocks East neighborhood is Spanish, spoken by 76.6% of households. Some people also speak English (22.2%).

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 The Hammocks East neighborhood in Miami, FL, residents most commonly identify their ethnicity or ancestry as Cuban (47.8%). There are also a number of people of South American ancestry (20.7%), and residents who report Puerto Rican roots (2.8%), and some of the residents are also of German ancestry (2.4%), along with some Spanish ancestry residents (1.8%), among others. In addition, 60.9% 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 The Hammocks East neighborhood spend between 15 and 30 minutes commuting one-way to work (57.2% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (90.6%) 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.


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