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Real Estate Prices & Overview

Coral Gables Riviera West median real estate price is $1,711,136, which is more expensive than 98.3% of the neighborhoods in Florida and 97.6% of the neighborhoods in the U.S.

The average rental price in Coral Gables Riviera West is currently $5,238, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 96.4% of the neighborhoods in Florida.

Coral Gables Riviera West is a suburban neighborhood (based on population density) located in Coral Gables, Florida.

Coral Gables Riviera West real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two 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 Coral Gables Riviera West 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 Coral Gables Riviera West. The current real estate vacancy rate here is 24.4%. This is higher than the rate of vacancies in 91.4% 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.

People

In a nation where 1 out of every 4 children lives in poverty, the Coral Gables Riviera West neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

In addition, do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 82.1% of the adults living in the Coral Gables Riviera West neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 98.4% of U.S. neighborhoods. In this way, this neighborhood truly stands out.

Occupations

The Coral Gables Riviera West neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 97.4% of the neighborhoods in America. In fact, 74.2% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.

Diversity

Did you know that the Coral Gables Riviera West neighborhood has more Cuban and Brazilian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 33.7% of this neighborhood's residents have Cuban ancestry and 2.0% have Brazilian 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 Coral Gables Riviera West neighborhood in Coral Gables are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 50.1% 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 Coral Gables Riviera West neighborhood, 74.2% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 22.2% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (2.5%).

Languages

The most common language spoken in the Coral Gables Riviera West neighborhood is Spanish, spoken by 54.8% of households. Some people also speak English (41.7%).

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 Coral Gables Riviera West neighborhood in Coral Gables, FL, residents most commonly identify their ethnicity or ancestry as Cuban (33.7%). There are also a number of people of Mexican ancestry (11.0%), and residents who report South American roots (9.1%), and some of the residents are also of German ancestry (7.3%), along with some Italian ancestry residents (5.6%), among others. In addition, 29.0% 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 Coral Gables Riviera West neighborhood spend between 15 and 30 minutes commuting one-way to work (42.3% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (66.0%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (5.6%) and 5.6% of residents also ride the bus 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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