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Real Estate Prices & Overview

Canal Downtown median real estate price is $467,524, which is more expensive than 57.9% of the neighborhoods in Florida and 62.9% of the neighborhoods in the U.S.

The average rental price in Canal Downtown is currently $1,705, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 86.5% of Florida neighborhoods.

Canal Downtown is a rural neighborhood (based on population density) located in New Smyrna Beach, Florida. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).

Canal Downtown real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four 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 Canal Downtown 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 Canal Downtown. The current real estate vacancy rate here is 33.4%. This is higher than the rate of vacancies in 95.9% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (21.6%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, 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

Do you like a coastal setting? If so, this neighborhood may be to your liking. The Canal Downtown neighborhood is on the ocean, a bay, or inlet. Often such coastal places have amenities and recreational activities on the waterfront that are attractive to residents and visitors alike. In addition to being coastal, Canal Downtown 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, vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 33.4% of the residential real estate vacant, the Canal Downtown neighborhood claims the distinction of having a higher vacancy rate than 95.9% 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.

People

Of note is NeighborhoodScout's research finding that the Canal Downtown 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 Canal Downtown community truly stands out from the rest in this regard.

In addition, if you're nearing retirement age, or in retirement, the Canal Downtown is an excellent choice for you to consider for top-quality retirement living. This neighborhood is rated by NeighborhoodScout as among the top 9.1% of retiree-friendly neighborhoods in Florida, combining peace and quiet, safety from crime, and offering diverse housing options from which retirees can choose. Maybe it's because of these amenities that a large proportion of the residents here are college educated seniors, mixed with other age groups. For these and other reasons, NeighborhoodScout identifies this neighborhood as a top-notch place to consider if you are thinking of or planning to retire in Florida.

Modes of Transportation

In the Canal Downtown neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 29.9% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 96.9% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.

Occupations

There are more people living in the Canal Downtown neighborhood employed as sales and service workers (62.1%) 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.

Diversity

Did you know that the Canal Downtown neighborhood has more Portuguese ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.2% of this neighborhood's residents have Portuguese ancestry.

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 Canal Downtown neighborhood in New Smyrna Beach are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 53.9% 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.

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 Canal Downtown neighborhood, 37.9% 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 34.6% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (16.5%), and 11.1% 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 Canal Downtown neighborhood is English, spoken by 90.8% of households. Other important languages spoken here include Spanish and Polish.

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 Canal Downtown neighborhood in New Smyrna Beach, FL, residents most commonly identify their ethnicity or ancestry as German (19.5%). There are also a number of people of Irish ancestry (11.7%), and residents who report English roots (11.2%), and some of the residents are also of Polish ancestry (5.6%), along with some Mexican ancestry residents (5.3%), among others.

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 Canal Downtown neighborhood spend between 45 minutes and one hour commuting one-way to work (27.4% of working residents), longer and tougher than most commutes in America.

Here most residents (53.1%) 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 (16.0%) . 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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