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Real Estate Prices & Overview

Town Park Estates median real estate price is $699,476, which is more expensive than 82.1% of the neighborhoods in Florida and 80.4% of the neighborhoods in the U.S.

The average rental price in Town Park Estates is currently $2,709, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 46.7% of Florida neighborhoods.

Town Park Estates is an urban neighborhood (based on population density) located in Miami, Florida.

Town Park Estates 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 owner occupied. Many of the residences in the Town Park Estates 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 Town Park Estates, 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 Town Park Estates 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 Town Park Estates 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 Town Park Estates 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.

People

In a nation where 1 out of every 4 children lives in poverty, the Town Park Estates neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

In addition, the Town Park Estates 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 9.1% of college-friendly places to live in FL.

Diversity

Did you know that the Town Park Estates neighborhood has more Cuban and South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 61.5% of this neighborhood's residents have Cuban ancestry and 8.9% have South American ancestry.

Town Park Estates is also pretty special linguistically. Significantly, 89.3% 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

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 Town Park Estates neighborhood has a greater percentage of residents born in another country (69.2%) than are found in 99.7% 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 Town Park Estates neighborhood in Miami are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 61.0% 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 Town Park Estates neighborhood, 41.5% 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 24.3% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (17.8%), and 16.4% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Town Park Estates neighborhood is Spanish, spoken by 89.3% of households. Some people also speak English (7.8%).

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 Town Park Estates neighborhood in Miami, FL, residents most commonly identify their ethnicity or ancestry as Cuban (61.5%). There are also a number of people of South American ancestry (8.9%), and residents who report Asian roots (4.7%), and some of the residents are also of English ancestry (2.1%), along with some Puerto Rican ancestry residents (1.7%), among others. In addition, 69.2% of the residents of this neighborhood were born in another country.

Getting to Work

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 Town Park Estates neighborhood spend between 30 and 45 minutes commuting one-way to work (42.9% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (85.0%) 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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