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Real Estate Prices & Overview

Ponce Estates median real estate price is $788,655, which is more expensive than 87.5% of the neighborhoods in Florida and 83.7% of the neighborhoods in the U.S.

The average rental price in Ponce Estates is currently $4,047, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 94.2% of the neighborhoods in Florida.

Ponce Estates is a suburban neighborhood (based on population density) located in Miami, Florida.

Ponce Estates real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Ponce Estates neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

In Ponce Estates, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Ponce Estates is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

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 Ponce Estates neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

With a real estate vacancy rate of only 0.0%, the Ponce Estates neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.

In addition, if you like the look and ambience of new homes and newly built neighborhoods, you will love the Ponce Estates neighborhood. A whopping 81.0% 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 97.2% 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.

Modes of Transportation

In the Ponce Estates neighborhood, carpooling is still a popular way to get to and from work. NeighborhoodScout's analysis reveals that 27.4% of commuters carpool here, which is more than in 97.9% of all U.S. neighborhoods.

People

If you are an executive or professional seeking a neighborhood affording an executive lifestyle, or just wanting to find where other executives live in the area, the Ponce Estates neighborhood should be on your list. It has an enviable mix of spacious homes, relatively stable real estate values, and residents that include a number of wealthy executives, managers, and professionals. NeighborhoodScout's exclusive analysis places it as one of the top 12.9% executive lifestyle neighborhoods in the state of Florida.

Diversity

Did you know that the Ponce Estates neighborhood has more Cuban and South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 52.4% of this neighborhood's residents have Cuban ancestry and 15.0% have South American ancestry.

Ponce Estates is also pretty special linguistically. Significantly, 87.4% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 99.4% of all U.S. neighborhoods.

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. What is interesting to note, is that the Ponce Estates neighborhood has a greater percentage of residents born in another country (56.6%) than are found in 98.7% 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 Ponce Estates 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 72.3% of the neighborhoods in America. In addition, 2.0% 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 74.6% of America'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 Ponce Estates neighborhood, 40.0% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 21.6% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (20.3%), and 17.8% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Ponce Estates neighborhood is Spanish, spoken by 87.4% of households. Some people also speak English (11.5%).

Ethnicity / Ancestry

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 Ponce Estates neighborhood in Miami, FL, residents most commonly identify their ethnicity or ancestry as Cuban (52.4%). There are also a number of people of South American ancestry (15.0%), and residents who report Dominican roots (3.5%), and some of the residents are also of Puerto Rican ancestry (3.4%), along with some Mexican ancestry residents (2.7%), among others. In addition, 56.6% 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 Ponce Estates neighborhood spend between 45 minutes and one hour commuting one-way to work (40.3% of working residents), longer and tougher than most commutes in America.

Here most residents (58.1%) 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 (27.4%) . 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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