Edgewater median real estate price is $880,993, which is more expensive than 90.1% of the neighborhoods in Florida and 86.7% of the neighborhoods in the U.S.
The average rental price in Edgewater is currently $4,112, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 94.9% of the neighborhoods in Florida.
Edgewater is a densely urban neighborhood (based on population density) located in Miami, Florida.
Edgewater 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 Edgewater neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.
Edgewater has a 14.0% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 77.7% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are 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 Edgewater neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
One of the really unique and interesting things about the look and setting of the Edgewater neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 97.3% 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 99.5% of all neighborhoods in America.
In addition, 98.1% of the real estate in the Edgewater neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
Furthermore, if you like the look and ambience of new homes and newly built neighborhoods, you will love the Edgewater neighborhood. A whopping 88.6% 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 98.4% 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, the Edgewater 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 86.8% 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.
If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 3.8% of residents in the Edgewater neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 97.1% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.
There are more people living in the Edgewater neighborhood employed as sales and service workers (61.3%) than almost any neighborhood in the country. From fast-food service workers to major sales accounts, sales and service workers make up the largest proportion of our national employment picture. But despite that size and importance nationally, this neighborhood still stands out as unique due to the dominance of people living here who work in such occupations.
Did you know that the Edgewater neighborhood has more South American and Cuban ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 42.5% of this neighborhood's residents have South American ancestry and 12.2% have Cuban ancestry.
Edgewater is also pretty special linguistically. Significantly, 1.7% 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 97.1% of the neighborhoods in America.
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 Edgewater neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 96.7% 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 Edgewater neighborhood has a greater percentage of residents born in another country (51.7%) than are found in 97.8% 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 Edgewater 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 75.0% of the neighborhoods in America. With 16.9% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 64.9% of U.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 Edgewater neighborhood, 44.5% 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 38.7% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (12.0%), and 4.7% in clerical, assistant, and tech support occupations.
The most common language spoken in the Edgewater neighborhood is Spanish, spoken by 61.7% of households. Some people also speak English (29.5%).
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 Edgewater neighborhood in Miami, FL, residents most commonly identify their ethnicity or ancestry as South American (42.5%). There are also a number of people of Cuban ancestry (12.2%), and residents who report Italian roots (7.2%), and some of the residents are also of Puerto Rican ancestry (4.1%), along with some Asian ancestry residents (3.3%), among others. In addition, 51.7% 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 Edgewater neighborhood spend between 15 and 30 minutes commuting one-way to work (37.3% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (52.9%) 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 (13.1%) and 5.6% of residents also ride the bus 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.