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Real Estate Prices & Overview

Overtown West median real estate price is $637,064, which is more expensive than 77.6% of the neighborhoods in Florida and 77.6% of the neighborhoods in the U.S.

The average rental price in Overtown West is currently $2,293, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 63.0% of Florida neighborhoods.

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

Overtown West 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 townhomes. Most of the residential real estate is renter occupied. Many of the residences in the Overtown West neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1940 and 1969.

Real estate vacancies in Overtown West are 3.6%, which is lower than one will find in 76.1% of American neighborhoods. Demand for real estate in Overtown West 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.

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.

Occupations

There are more people living in the Overtown West neighborhood employed as sales and service workers (43.8%) 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.

People

The Overtown West neighborhood stands out for having an average per capita income lower than 97.6% of the neighborhoods in the United States. The Overtown West neighborhood also has a greater percentage of children living in poverty (84.6%) than found in 99.6% of all U.S. neighborhoods. Children living in poverty is one of the challenges facing America, and the world, and in this neighborhood in particular, the problem can be considered acute.

Real Estate

Renter-occupied real estate is dominant in the Overtown West neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 86.8%, which is higher than 95.9% 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.

In addition, if you like crowded places, then you will probably enjoy the the Overtown West neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 95.9% of neighborhoods in the U.S., with 24,147 people per square mile living here.

Furthermore, the real estate in the Overtown West neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 74.7% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 95.9% of American neighborhoods.

Diversity

Did you know that the Overtown West neighborhood has more Cuban and Haitian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 28.2% of this neighborhood's residents have Cuban ancestry and 8.7% have Haitian ancestry.

Overtown West is also pretty special linguistically. Significantly, 1.6% 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 96.9% 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 Overtown West neighborhood has a greater percentage of residents born in another country (46.3%) than are found in 96.6% of all U.S. neighborhoods.

The Neighbors

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 Overtown West neighborhood in Miami are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 97.6% of U.S. neighborhoods. With 84.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 99.6% 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 Overtown West neighborhood, 56.2% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 23.6% of the residents employed. Other residents here are employed in executive, management, and professional occupations (13.3%), and 6.8% 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 Overtown West neighborhood is Spanish, spoken by 56.5% of households. Other important languages spoken here include English, French and Chinese.

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Overtown West neighborhood in Miami, FL, residents most commonly identify their ethnicity or ancestry as Cuban (28.2%). There are also a number of people of Haitian ancestry (8.7%), and residents who report Puerto Rican roots (6.7%), and some of the residents are also of Italian ancestry (5.3%), along with some Spanish ancestry residents (3.3%), among others. In addition, 46.3% of the residents of this neighborhood were born in another country.

Getting to Work

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 Overtown West neighborhood spend between 15 and 30 minutes commuting one-way to work (53.6% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (82.1%) 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 (10.8%) . 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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