Coral Way Village median real estate price is $713,463, which is more expensive than 83.7% of the neighborhoods in Florida and 80.3% of the neighborhoods in the U.S.
The average rental price in Coral Way Village is currently $2,608, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 60.8% of the neighborhoods in Florida.
Coral Way Village is an urban neighborhood (based on population density) located in Miami, Florida.
Coral Way Village 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 Way Village neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
Real estate vacancies in Coral Way Village are 5.1%, which is lower than one will find in 63.1% of American neighborhoods. Demand for real estate in Coral Way Village is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.
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 Coral Way Village neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Of note is NeighborhoodScout's research finding that the Coral Way Village 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 Coral Way Village community truly stands out from the rest in this regard.
In addition, astoundingly, the Coral Way Village neighborhood has one of the highest concentrations of divorcees living here than of any neighborhood, a higher concentration than NeighborhoodScout found in 97.6% of U.S. neighborhoods. This may be because people living here divorce more often than others, or that divorced people move here after they become divorced. If you are divorced, you will be in good company in this particular Miami neighborhood.
Did you know that the Coral Way Village neighborhood has more Cuban and South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 76.1% of this neighborhood's residents have Cuban ancestry and 11.8% have South American ancestry.
Coral Way Village is also pretty special linguistically. Significantly, 90.3% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 99.6% of all U.S. neighborhoods.
Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Coral Way Village neighborhood. What is interesting to note, is that the Coral Way Village neighborhood has a greater percentage of residents born in another country (76.8%) than are found in 99.9% of all U.S. neighborhoods.
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 Way Village neighborhood in Miami are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 61.5% 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.
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 Coral Way Village neighborhood, 34.6% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 29.5% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (21.8%), and 14.1% in clerical, assistant, and tech support occupations.
The most common language spoken in the Coral Way Village neighborhood is Spanish, spoken by 90.3% of households. Some people also speak English (9.6%).
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 Way Village neighborhood in Miami, FL, residents most commonly identify their ethnicity or ancestry as Cuban (76.1%). There are also a number of people of South American ancestry (11.8%), and residents who report Sub-Saharan African roots (2.5%), and some of the residents are also of African ancestry (2.5%), along with some Haitian ancestry residents (1.2%), among others. In addition, 76.8% 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 Coral Way Village neighborhood spend between 15 and 30 minutes commuting one-way to work (37.9% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (80.7%) 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 (7.3%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.