Downtown East median real estate price is $1,136,364, which is more expensive than 95.0% of the neighborhoods in Florida and 93.0% of the neighborhoods in the U.S.
The average rental price in Downtown East is currently $4,782, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 94.9% of the neighborhoods in Florida.
Downtown East is a densely urban neighborhood (based on population density) located in Miami, Florida. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).
Downtown East 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 renter occupied. Many of the residences in the Downtown East neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
Vacant apartments or homes are a major fact of life in Downtown East. The current real estate vacancy rate here is 22.2%. This is higher than the rate of vacancies in 89.4% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (13.2%). 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 Miami, the Downtown East neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Real Estate
Downtown East is a neighborhood that is on the ocean, a bay, or inlet. Many times, such places have amenities that bring locals and visitors to the waterfront for recreational activities or to check out the scenery. In some densely populated areas that are less financially well-off, the neighborhood waterfront can be relatively industrial and less open to recreation. In addition to being coastal, Downtown East 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, one of the really unique and interesting things about the look and setting of the Downtown East neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 97.2% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 99.4% of all neighborhoods in America.
Furthermore, if you like the look and ambience of new homes and newly built neighborhoods, you will love the Downtown East neighborhood. A whopping 93.7% of the homes and other residential real estate here were built after 1999, which is a higher proportion of new homes then you will find in 99.3% of the neighborhoods in the U.S. Everything here just feels new. In fact, the concentration of newer homes here is so great that they completely dominate the landscape. In most neighborhoods, there is a mixture of ages of residential real estate, but here it is almost completely built during one time frame: 2000 through today.
People
Of note is NeighborhoodScout's research finding that the Downtown East 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 Downtown East community truly stands out from the rest in this regard.
In addition, if knowledge is power, then imagine the cumulative power of one neighborhood where many of the adults have earned an advanced degree, such as a Masters, law degree, medical degree, or even a Ph.D. This is certainly the case in the Downtown East neighborhood, where 44.5% have earned an advanced degree. Compare that to the average neighborhood in America, where just 13.4% of adults have completed a post-graduate degree, and you can see why this neighborhood is a stand out. In fact, this neighborhood has a higher rate of adults with an advanced degree than 98.3% of the neighborhoods in America.
Also, one of the most interesting things about the Downtown East neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 51.1% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 96.2% of the neighborhoods in America.
Modes of Transportation
More people in Downtown East choose to walk to work each day (20.5%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.
Diversity
Did you know that the Downtown East neighborhood has more South American and Cuban ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 32.2% of this neighborhood's residents have South American ancestry and 19.7% have Cuban ancestry.
Downtown East is also pretty special linguistically. Significantly, 4.7% of its residents five years old and above primarily speak Portuguese at home. While this may seem like a small percentage, it is higher than 99.2% of the neighborhoods in America.
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. What is interesting to note, is that the Downtown East neighborhood has a greater percentage of residents born in another country (50.5%) than are found in 97.8% of all U.S. neighborhoods.
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 Downtown East 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 73.6% 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.
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 Downtown East neighborhood, 65.0% 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 18.8% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (9.3%), and 6.9% 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 Downtown East neighborhood is Spanish, spoken by 71.6% of households. Other important languages spoken here include English, Portuguese and Arabic.
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 Downtown East neighborhood in Miami, FL, residents most commonly identify their ethnicity or ancestry as South American (32.2%). There are also a number of people of Cuban ancestry (19.7%), and residents who report Puerto Rican roots (8.9%), and some of the residents are also of Irish ancestry (5.9%), along with some Italian ancestry residents (5.6%), among others. In addition, 50.5% 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 Downtown East neighborhood spend under 15 minutes commuting one-way to work (44.5% of working residents), one of the shortest commutes across America.
Here most residents (38.0%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (20.5%) and 14.0% of residents also carpool with coworkers, friends, or neighbors 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.
