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Real Estate Prices & Overview

Downtown Northwest median real estate price is $802,555, which is more expensive than 88.6% of the neighborhoods in Florida and 84.8% of the neighborhoods in the U.S.

The average rental price in Downtown Northwest is currently $3,626, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 90.1% of the neighborhoods in Florida.

Downtown Northwest is a densely urban neighborhood (based on population density) located in Miami, Florida.

Downtown Northwest 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 small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Downtown Northwest neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1940 and 1969.

Vacant apartments or homes are a major fact of life in Downtown Northwest. The current real estate vacancy rate here is 23.0%. This is higher than the rate of vacancies in 91.5% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (13.8%). 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.

Notable & Unique Neighborhood Characteristics

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

An interesting characteristic about the Downtown Northwest neighborhood is that there are more incarcerated people living here than 99.9% of neighborhoods in the U.S. The United States has the highest rate of incarceration in the world, currently with 1 out of every 100 adults in the country are incarcerated as a punishment for crimes committed. The extremely high incarceration rate of this neighborhood could mean that a prison, juvenile detention facility or other correctional facility occupies a large proportion of the neighborhood, or contains a large portion of the neighborhood's population.

Real Estate

The Downtown Northwest 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 99.4% 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, renter-occupied real estate is dominant in the Downtown Northwest 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.

Furthermore, if you like the look and ambience of new homes and newly built neighborhoods, you will love the Downtown Northwest neighborhood. A whopping 93.2% 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 99.1% 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.

Also of note, one of the really unique and interesting things about the look and setting of the Downtown Northwest neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 94.2% 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 98.8% of all neighborhoods in America.

Car Ownership

American households most often have a car, and regularly they have two or three. But households in the Downtown Northwest neighborhood buck this trend. 32.2% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.3% of U.S. neighborhoods.

Modes of Transportation

If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 10.8% of the Downtown Northwest neighborhood's commuters ride the train to and from work each day, which is more than we found in 95.9% of America's neighborhoods.

Diversity

Did you know that the Downtown Northwest neighborhood has more South American and Cuban ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 20.8% of this neighborhood's residents have South American ancestry and 6.5% have Cuban ancestry.

Migration / Stability

The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. In the Downtown Northwest neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.3% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas. What is also interesting to note, is that the Downtown Northwest neighborhood has a greater percentage of residents born in another country (50.3%) than are found in 97.5% of all U.S. neighborhoods.

The Neighbors

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 Northwest 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 65.5% of U.S. neighborhoods. With 10.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 51.0% of U.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 Downtown Northwest neighborhood, 51.7% 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 28.2% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (14.3%), and 5.8% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Downtown Northwest neighborhood is Spanish, spoken by 51.6% of households. Some people also speak English (39.5%).

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 Northwest neighborhood in Miami, FL, residents most commonly identify their ethnicity or ancestry as South American (20.8%). There are also a number of people of Italian ancestry (10.8%), and residents who report Cuban roots (6.5%), and some of the residents are also of Irish ancestry (4.8%), along with some Puerto Rican ancestry residents (4.4%), among others. In addition, 50.3% of the residents of this neighborhood were born in another country.

Getting to Work

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 Northwest neighborhood spend between 15 and 30 minutes commuting one-way to work (43.0% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (41.0%) 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 (13.9%) and 10.8% of residents also take the train 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.

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