Malibu Bay median real estate price is $480,993, which is more expensive than 59.4% of the neighborhoods in Florida and 63.4% of the neighborhoods in the U.S.
The average rental price in Malibu Bay is currently $3,408, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 82.2% of the neighborhoods in Florida.
Malibu Bay is an urban neighborhood (based on population density) located in Homestead, Florida.
Malibu Bay real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Malibu Bay neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
In Malibu Bay, the current vacancy rate is 1.2%, which is a lower rate of vacancies than 90.1% of all neighborhoods in the U.S. This means that the housing supply in Malibu Bay is very tight compared to the demand for property here.
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.
If you like the look and ambience of new homes and newly built neighborhoods, you will love the Malibu Bay neighborhood. A whopping 87.2% 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 98.3% 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.
Did you know that the Malibu Bay neighborhood has more Cuban and French ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 25.1% of this neighborhood's residents have Cuban ancestry and 11.5% have French ancestry.
Malibu Bay is also pretty special linguistically. Significantly, 2.3% 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 98.0% of the neighborhoods in America.
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 Malibu Bay neighborhood in Homestead are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 51.8% of the neighborhoods in America. In addition, 6.5% 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 59.5% of America's neighborhoods.
A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.
In the Malibu Bay neighborhood, 37.7% 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 26.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (19.5%), and 15.9% in manufacturing and laborer occupations.
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 Malibu Bay neighborhood is Spanish, spoken by 57.5% of households. Other important languages spoken here include English, French and Portuguese.
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 Malibu Bay neighborhood in Homestead, FL, residents most commonly identify their ethnicity or ancestry as Cuban (25.1%). There are also a number of people of French ancestry (11.5%), and residents who report South American roots (9.1%), and some of the residents are also of Puerto Rican ancestry (6.6%), along with some Italian ancestry residents (5.2%), among others. In addition, 34.1% 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 Malibu Bay neighborhood spend between 45 minutes and one hour commuting one-way to work (31.4% of working residents), longer and tougher than most commutes in America.
Here most residents (82.2%) 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 (6.3%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.