University of Miami median real estate price is $1,641,715, which is more expensive than 98.4% of the neighborhoods in Florida and 98.0% of the neighborhoods in the U.S.
The average rental price in University of Miami is currently $6,014, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 98.9% of the neighborhoods in Florida.
University of Miami is an urban neighborhood (based on population density) located in Coral Gables, Florida.
University of Miami real estate is primarily made up of small (studio to two bedroom) small apartment buildings and apartment complexes/high-rise apartments. Most of the residential real estate is renter occupied. Many of the residences in the University of Miami 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.
Vacant apartments or homes are a major fact of life in University of Miami. The current real estate vacancy rate here is 66.7%. This is higher than the rate of vacancies in 99.6% 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.
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 University of Miami neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.
In addition, neighborhoodScout's analysis shows that the University of Miami neighborhood has a greater concentration of residents currently enrolled in college than 99.9% of the neighborhoods in the U.S. With 98.9% of the population here attending college, this is very much a college-focused neighborhood.
Also, one of the really interesting characteristics about the University of Miami 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 0.1% of college-friendly places to live in the state of Florida.
Real Estate
The University of Miami 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 100.0% 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.
In addition, corner bodegas, stores on the first floor and apartments above, former grand Victorian residences converted into apartments, three-deckers built shoulder-to-shoulder, duplexes. Such building types define the real estate of neighborhoods dominated by small 2, 3, and 4 unit apartment buildings. Many are in older core neighborhoods of Eastern and Midwestern cities, or historic town centers in their hinterlands. If you wax romantic about the look and feel of such neighborhoods, with fresh pizza, falafel and an independent florist at the corner, then you might find the University of Miami neighborhood worth a close look. This neighborhood is an absolutely outstanding example of the dominance of small 2, 3, and 4 unit apartment buildings compared to neighborhoods across the nation, as they make up a substantial portion of this neighborhood's real estate stock. In fact, no less than 66.7% of the real estate here is made up of such dwellings, which is higher than 99.6% of all U.S. neighborhoods.
Furthermore, renter-occupied real estate is dominant in the University of Miami neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 100.0%, which is higher than 99.3% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so. Vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 66.7% of the residential real estate vacant, the University of Miami neighborhood claims the distinction of having a higher vacancy rate than 99.6% 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.
Modes of Transportation
In the University of Miami neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 41.4% of residents here. This is a higher proportion of walking commuters than we found in 99.6% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Occupations
From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the University of Miami neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 99.2% of all American neighborhoods.
Length of Commute
Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. Residents of the University of Miami neighborhood have the pleasure of having one of the shortest commutes to work of any neighborhood in America. 58.3% of the residents have a commute time from home to work (one way) of less than fifteen minutes. This is a higher proportion of residents enjoying a short trip to work than NeighborhoodScout found in 95.5% of U.S. neighborhoods. Less time commuting means more time for other things in life.
Diversity
Did you know that the University of Miami neighborhood has more West Indian and Armenian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 0.3% of this neighborhood's residents have West Indian ancestry and 1.0% have Armenian ancestry.
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. In the University of Miami neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.7% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.
The neighbors in the University of Miami neighborhood in Coral Gables are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 100.0% of U.S. neighborhoods. 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.
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 University of Miami neighborhood, 48.3% 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 29.2% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (18.8%), and 3.7% in manufacturing and laborer 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 University of Miami neighborhood is English, spoken by 80.5% of households. Other important languages spoken here include Spanish and Chinese.
Ethnicity / Ancestry
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 University of Miami neighborhood in Coral Gables, FL, residents most commonly identify their ethnicity or ancestry as Asian (8.4%). There are also a number of people of Italian ancestry (4.1%), and residents who report Cuban roots (3.3%), and some of the residents are also of Irish ancestry (3.2%), along with some South American ancestry residents (2.5%), among others. In addition, 10.4% of the residents of this neighborhood were born in another country.
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 University of Miami neighborhood spend under 15 minutes commuting one-way to work (58.3% of working residents), one of the shortest commutes across America.
Here most residents (41.4%) hop out the door and walk to work to get to work. In addition, quite a number also drive alone in a private automobile to get to work (32.2%) . This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.
