Galt Mile median real estate price is $927,486, which is more expensive than 91.5% of the neighborhoods in Florida and 88.3% of the neighborhoods in the U.S.
The average rental price in Galt Mile is currently $5,872, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 99.2% of the neighborhoods in Florida.
Galt Mile is a densely urban neighborhood (based on population density) located in Fort Lauderdale, Florida. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).
Galt Mile 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 single-family homes. Most of the residential real estate is owner occupied. Many of the residences in the Galt Mile neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.
Vacant apartments or homes are a major fact of life in Galt Mile. The current real estate vacancy rate here is 58.9%. This is higher than the rate of vacancies in 99.3% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (54.0%). 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.
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 Fort Lauderdale, the Galt Mile neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Do you like a coastal setting? If so, this neighborhood may be to your liking. The Galt Mile 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, Galt Mile 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, despite all of the residential real estate here in the Galt Mile neighborhood, NeighborhoodScout has discovered that much of it is vacant. In resort or second-home vacation areas, this naturally occurs because homes and apartments are seasonally occupied, and empty for a portion of the year. In non-vacation or resort areas, however, this can be an indicator of property abandonment or a weak real estate market. The vacancy rate here is 58.9%, which is higher than 99.3% of all U.S. neighborhoods.
Furthermore, the real estate in the Galt Mile neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 93.9% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 98.8% of American neighborhoods.
Also of note, most neighborhoods are composed of a mixture of ages of homes, but the Galt Mile 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, 85.4% of the residential real estate here was built in this one time period.
Of note is NeighborhoodScout's research finding that the Galt Mile 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 Galt Mile community truly stands out from the rest in this regard.
In addition, the types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 55.9%. This is a higher percent living alone than we found in 97.8% of all U.S. neighborhoods. Often residents who live alone are new arrivals to an area who are single, and often senior citizens who have lost a spouse.
Also, if you're planning where to retire, the Galt Mile neighborhood in Fort Lauderdale is a great option to consider. According to NeighborhoodScout's exclusive retirement dream area analysis, it's peaceful and quiet, has above average safety ratings compared to other neighborhoods in FL, offers a wide range of housing options, and has already attracted an enviable mix of college educated seniors. This neighborhood ranks as better for retirement living than 86.8% of the neighborhoods in Florida. If you are considering retiring to Florida, this is a good neighborhood to look at. In addition to being an excellent choice for active retirees, this neighborhood is also a very good choice for urban sophisticates.
A unique way of commuting is simply not to. And in the Galt Mile neighborhood, analysis shows that 31.2% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 95.5% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.
Did you know that the Galt Mile neighborhood has more Eastern European and Russian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.7% of this neighborhood's residents have Eastern European ancestry and 5.1% have Russian ancestry.
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 Galt Mile neighborhood in Fort Lauderdale are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 73.7% 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 Galt Mile neighborhood, 63.9% 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 18.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (17.5%), and 7.0% in government jobs, whether they are in local, state, or federal positions.
Languages
The most common language spoken in the Galt Mile neighborhood is English, spoken by 80.2% of households. Some people also speak Spanish (12.0%).
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 Galt Mile neighborhood in Fort Lauderdale, FL, residents most commonly identify their ethnicity or ancestry as Italian (20.4%). There are also a number of people of English ancestry (7.4%), and residents who report Irish roots (7.4%), and some of the residents are also of South American ancestry (6.2%), along with some Russian ancestry residents (5.1%), among others. In addition, 20.6% 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 Galt Mile neighborhood spend between 15 and 30 minutes commuting one-way to work (63.0% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (64.5%) drive alone in a private automobile to get to work. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
