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Real Estate Prices & Overview

Byron Ave / 78th St median real estate price is $385,915, which is more expensive than 46.5% of the neighborhoods in Florida and 54.8% of the neighborhoods in the U.S.

The average rental price in Byron Ave / 78th St is currently $2,922, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 63.8% of the neighborhoods in Florida.

Byron Ave / 78th St is a densely urban neighborhood (based on population density) located in Miami Beach, Florida. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).

Byron Ave / 78th St 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 small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Byron Ave / 78th St neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

Vacant apartments or homes are a major fact of life in Byron Ave / 78th St. The current real estate vacancy rate here is 22.1%. This is higher than the rate of vacancies in 89.3% 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.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

Real Estate

The Byron Ave / 78th St neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 33,423 persons per square mile in the neighborhood, it is more packed with people than 97.3% of the nation's neighborhoods. Byron Ave / 78th St is a neighborhood that is on the ocean, a bay, or inlet. Many times, such places have amenities that bring locals and visitors to the waterfront for recreational activities or to check out the scenery. In some densely populated areas that are less financially well-off, the neighborhood waterfront can be relatively industrial and less open to recreation. In addition to being coastal, Byron Ave / 78th St is a very nautical neighborhood, meaning that it is somewhat historic, walkable, densely populated and on the water. This gives the neighborhood a very nautical feel, with some seaside and shipping feel, which some may really enjoy the sights and sounds of.

In addition, the Byron Ave / 78th St 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 90.5% 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, one of the really unique and interesting things about the look and setting of the Byron Ave / 78th St neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 82.0% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 97.0% of all neighborhoods in America.

Modes of Transportation

More people ride the bus in this neighborhood each day to get to work than 98.9% of U.S. neighborhoods.

Occupations

From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the Byron Ave / 78th St neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 95.8% of all American neighborhoods.

Diversity

Did you know that the Byron Ave / 78th St neighborhood has more South American and Cuban ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 27.2% of this neighborhood's residents have South American ancestry and 41.4% have Cuban ancestry.

Byron Ave / 78th St is also pretty special linguistically. Significantly, 79.8% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 98.6% 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 Byron Ave / 78th St neighborhood has a greater percentage of residents born in another country (69.1%) than are found in 99.7% 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 Byron Ave / 78th St neighborhood in Miami Beach are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 84.0% of U.S. neighborhoods. With 25.7% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 76.4% of U.S. neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Byron Ave / 78th St neighborhood, 38.9% 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 27.6% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (22.1%), and 11.4% in clerical, assistant, and tech support 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 Byron Ave / 78th St neighborhood is Spanish, spoken by 79.8% of households. Other important languages spoken here include English, Portuguese, Tagalog (the first language of the Philippine region) and French.

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 Byron Ave / 78th St neighborhood in Miami Beach, FL, residents most commonly identify their ethnicity or ancestry as Cuban (41.4%). There are also a number of people of South American ancestry (27.2%), and residents who report Italian roots (8.8%), and some of the residents are also of Asian ancestry (3.2%), along with some Irish ancestry residents (3.0%), among others. In addition, 69.1% 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 Byron Ave / 78th St neighborhood spend between 15 and 30 minutes commuting one-way to work (32.2% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (58.0%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (21.4%) and 13.5% 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.


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