University of Miami median real estate price is $1,919,081, which is more expensive than 98.7% of the neighborhoods in Florida and 98.2% of the neighborhoods in the U.S.
The average rental price in University of Miami is currently $6,236, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 98.9% of the neighborhoods in Florida.
University of Miami is an urban neighborhood (based on population density) located in Coral Gables, Florida.
University of Miami real estate is primarily made up of small (studio to two bedroom) small apartment buildings and apartment complexes/high-rise apartments. Most of the residential real estate is renter occupied. Many of the residences in the University of Miami neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.
Vacant apartments or homes are a major fact of life in University of Miami. The current real estate vacancy rate here is 66.7%. This is higher than the rate of vacancies in 99.6% 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.
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 Coral Gables, the University of Miami neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
Of note is NeighborhoodScout's research finding that the University of Miami 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 University of Miami community truly stands out from the rest in this regard.
In addition, an extraordinary 98.9% of the residents of the University of Miami 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.
Also, one of the really interesting characteristics about the University of Miami neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 0.1% of college-friendly places to live in the state of Florida.
Real Estate
The University of Miami 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 100.0% 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.
In addition, corner bodegas, stores on the first floor and apartments above, former grand Victorian residences converted into apartments, three-deckers built shoulder-to-shoulder, duplexes. Such building types define the real estate of neighborhoods dominated by small 2, 3, and 4 unit apartment buildings. Many are in older core neighborhoods of Eastern and Midwestern cities, or historic town centers in their hinterlands. If you wax romantic about the look and feel of such neighborhoods, with fresh pizza, falafel and an independent florist at the corner, then you might find the University of Miami neighborhood worth a close look. This neighborhood is an absolutely outstanding example of the dominance of small 2, 3, and 4 unit apartment buildings compared to neighborhoods across the nation, as they make up a substantial portion of this neighborhood's real estate stock. In fact, no less than 66.7% of the real estate here is made up of such dwellings, which is higher than 99.6% of all U.S. neighborhoods.
Furthermore, 100.0% of the real estate in the University of Miami neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America. Vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 66.7% of the residential real estate vacant, the University of Miami neighborhood claims the distinction of having a higher vacancy rate than 99.6% 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.
Modes of Transportation
In the University of Miami neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 41.4% of residents here. This is a higher proportion of walking commuters than we found in 99.6% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Occupations
There are more people living in the University of Miami neighborhood employed as sales and service workers (51.7%) 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.
Length of Commute
Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. Residents of the University of Miami neighborhood have the pleasure of having one of the shortest commutes to work of any neighborhood in America. 58.3% of the residents have a commute time from home to work (one way) of less than fifteen minutes. This is a higher proportion of residents enjoying a short trip to work than NeighborhoodScout found in 95.5% of U.S. neighborhoods. Less time commuting means more time for other things in life.
Diversity
Did you know that the University of Miami neighborhood has more West Indian and Armenian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 0.3% of this neighborhood's residents have West Indian ancestry and 1.0% have Armenian ancestry.
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. In the University of Miami neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.7% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
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 University of Miami neighborhood in Coral Gables are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 100.0% 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.
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 University of Miami neighborhood, 48.3% 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 29.2% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (18.8%), and 3.7% 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 University of Miami neighborhood is English, spoken by 80.5% of households. Other important languages spoken here include Spanish and Chinese.
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 University of Miami neighborhood in Coral Gables, FL, residents most commonly identify their ethnicity or ancestry as Asian (8.4%). There are also a number of people of Italian ancestry (4.1%), and residents who report Cuban roots (3.3%), and some of the residents are also of Irish ancestry (3.2%), along with some South American ancestry residents (2.5%), among others. In addition, 10.4% 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 University of Miami neighborhood spend under 15 minutes commuting one-way to work (58.3% of working residents), one of the shortest commutes across America.
Here most residents (41.4%) hop out the door and walk to work to get to work. In addition, quite a number also drive alone in a private automobile to get to work (32.2%) . This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.
