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Real Estate Prices & Overview

Olympic median real estate price is $331,550, which is less expensive than 64.7% of Florida neighborhoods and 52.0% of all U.S. neighborhoods.

The average rental price in Olympic is currently $2,953, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 64.8% of the neighborhoods in Florida.

Olympic is a densely urban neighborhood (based on population density) located in Miami, Florida.

Olympic 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 townhomes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Olympic neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Real estate vacancies in Olympic are 3.9%, which is lower than one will find in 74.1% of American neighborhoods. Demand for real estate in Olympic is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

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

Real Estate

Most neighborhoods are composed of a mixture of ages of homes, but the Olympic 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, 95.3% of the residential real estate here was built in this one time period.

In addition, 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 Olympic neighborhood could be your paradise. With 35.6% 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 2.4% of U.S. neighborhoods have more row houses than this neighborhood, making it one of the most interesting things about this special neighborhood.

Furthermore, if you like crowded places, then you will probably enjoy the the Olympic neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 95.9% of neighborhoods in the U.S., with 24,344 people per square mile living here.

People

One of the really interesting characteristics about the Olympic 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 2.2% of college-friendly places to live in the state of Florida.

In addition, an extraordinary 10.8% of the residents of the Olympic 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.

Diversity

Did you know that the Olympic neighborhood has more Cuban and South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 51.0% of this neighborhood's residents have Cuban ancestry and 25.5% have South American ancestry.

Olympic is also pretty special linguistically. Significantly, 92.2% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 99.7% 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 Olympic neighborhood. What is interesting to note, is that the Olympic neighborhood has a greater percentage of residents born in another country (69.4%) 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 Olympic 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 40.1% of the neighborhoods in America. With 33.8% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 84.6% 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 Olympic neighborhood, 33.8% 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 manufacturing and laborer occupations, with 25.8% of the residents employed. Other residents here are employed in executive, management, and professional occupations (25.5%), and 14.8% 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 Olympic neighborhood is Spanish, spoken by 92.2% of households. Other important languages spoken here include English and Arabic.

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 Olympic neighborhood in Miami, FL, residents most commonly identify their ethnicity or ancestry as Cuban (51.0%). There are also a number of people of South American ancestry (25.5%), and residents who report Dominican roots (3.2%), and some of the residents are also of Arab ancestry (2.6%), along with some Puerto Rican ancestry residents (2.1%), among others. In addition, 69.4% 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 Olympic neighborhood spend between 15 and 30 minutes commuting one-way to work (34.9% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (84.7%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (6.0%) . 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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