Lago Mar Park median real estate price is $693,874, which is more expensive than 81.7% of the neighborhoods in Florida and 78.8% of the neighborhoods in the U.S.
The average rental price in Lago Mar Park is currently $3,717, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 87.9% of the neighborhoods in Florida.
Lago Mar Park is an urban neighborhood (based on population density) located in Miami, Florida.
Lago Mar Park 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 Lago Mar Park 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.
In Lago Mar Park, the current vacancy rate is 1.4%, which is a lower rate of vacancies than 89.5% of all neighborhoods in the U.S. This means that the housing supply in Lago Mar Park is very tight compared to the demand for property here.
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.
Most neighborhoods are composed of a mixture of ages of homes, but the Lago Mar Park 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, 99.0% of the residential real estate here was built in this one time period.
In addition, real estate in the Lago Mar Park neighborhood is almost exclusively owner-occupied. NeighborhoodScout's analysis reveals that this neighborhood has a higher rate of owner-occupied housing than is found in 95.7% of U.S. neighborhoods. If you are seeking to rent, this neighborhood may not have many options, but high rates of ownership often indicate stability in a neighborhood.
With a nice mix of college students, safety from crime, and decent walkability, the Lago Mar Park neighborhood rates highly as a college student friendly place to live, and one that college students and their parents may want to consider. NeighborhoodScout's analysis shows that it rates more highly for a good place for college students to live than 89.4% of the neighborhoods in FL. This often also means that the area has certain amenities and services geared towards college students, from undergraduates to graduate students.
Did you know that the Lago Mar Park neighborhood has more Cuban and South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 52.3% of this neighborhood's residents have Cuban ancestry and 9.7% have South American ancestry.
Lago Mar Park is also pretty special linguistically. Significantly, 78.6% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 98.5% of all U.S. neighborhoods.
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 Lago Mar Park 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 Lago Mar Park neighborhood has a greater percentage of residents born in another country (57.1%) than are found in 98.9% of all U.S. neighborhoods.
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 Lago Mar Park 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 84.5% of the neighborhoods in America. In addition, 4.1% 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 67.1% of America's neighborhoods.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the Lago Mar Park neighborhood, 51.6% 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 22.8% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (16.5%), and 9.1% in clerical, assistant, and tech support occupations.
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 Lago Mar Park neighborhood is Spanish, spoken by 78.6% of households. Other important languages spoken here include English and Tagalog (the first language of the Philippine region).
Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.
In the Lago Mar Park neighborhood in Miami, FL, residents most commonly identify their ethnicity or ancestry as Cuban (52.3%). There are also a number of people of Asian ancestry (11.2%), and residents who report South American roots (9.7%), and some of the residents are also of Mexican ancestry (4.2%), along with some Dominican ancestry residents (3.6%), among others. In addition, 57.1% 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 Lago Mar Park neighborhood spend between 15 and 30 minutes commuting one-way to work (37.5% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (77.7%) 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 (11.1%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.