This is a small community in a single neighborhood.
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What do we mean by a neighborhood?
NeighborhoodScout® uses the official government designation for neighborhoods - the census tract.
Census tracts are small, relatively permanent subdivisions of a county that are defined by the U.S. Census Bureau in conjunction with local authorities all across the country to define real neighborhoods that are bounded to contain areas with homogeneous population characteristics (including economic status, lifestyle, and living conditions). Census tracts usually have 4,000 persons, but can range between 1,500 and 8,000 persons. This is the most fine-grained area for which detailed information is made available from the government, to protect the individual privacy of each of us. Because census tracts are based on population, they vary in size depending on the density of settlement. In urban areas, they are small, and in rural areas they can cover an entire small town or even a few small towns in very rural areas.
Since census tracts are subdivisions of a county, we did a spatial overlay of the census tracts onto city and town boundaries using a geographic information system to properly assign each census tract to its appropriate city or town. Then we named each census tract to the local colloquially recognized neighborhood name for that spot (e.g., Boston, MA (Dorchester). If there was not a name available, we named the census tract by the largest street intersection in the census tract (e.g., Worcester, MA (Lincoln St/Plantation St)
Why we don't use Zip Codes as neighborhoods
Zip codes were developed by the Postal Service for the purpose of delivering mail, but were never intended to define coherent neighborhoods. In addition, Zip Codes can have as many as 10 distinctly different census tracts contained within them. When distinct census tracts are blended together in a single Zip Code, the data reflects their average conditions and often gives a false sense of the area. The result is that potentially great matching neighborhoods can be missed, and erroneous matches can also be produced and delivered to you.
Using census tracts makes great matches possible, and helps people find the areas that are best for them and their families. Because we are committed to providing the highest possible quality and finding the neighborhoods that best meet your criteria, we use census tracts. And, as always, we show you the actual street map of the neighborhood so you know exactly where your best matching neighborhood is located.
What is a Condition Alert?
A condition alert is a condition in the neighborhood that triggers an alert. NeighborhoodScout contains condition alerts to highlight conditions that are extreme, whether good or bad. This helps answer crucial questions about the state of the neighborhood being evaluated, such as:
What are the risks of violent crime here?
Is the risk of home break-ins or other property crimes increasing?
Does real estate here hold its value?
Are the trends in local vacancies or unemployment concerning?
...and dozens more.
Information at a glance that you need to know to invest, appraise or finance a property.
Bal Harbour is a very small coastal village (i.e. on the ocean, a bay, or inlet) located in the state of Florida. With a population of 2,981 people and just one neighborhood, Bal Harbour is the 333rd largest community in Florida.
Bal Harbour home prices are not only among the most expensive in Florida, but Bal Harbour real estate also consistently ranks among the most expensive in America.
Occupations and Workforce
Bal Harbour is a decidedly white-collar village, with fully 89.50% of the workforce employed in white-collar jobs, well above the national average. Overall, Bal Harbour is a village of managers, professionals, and sales and office workers. There are especially a lot of people living in Bal Harbour who work in management occupations (20.10%), healthcare (13.07%), and office and administrative support (12.82%).
Also of interest is that Bal Harbour has more people living here who work in computers and math than 95% of the places in the US.
Telecommuters are a relatively large percentage of the workforce: 19.69% of people work from home. While this number may seem small overall, as a fraction of the total workforce it is high relative to the nation. These workers are often telecommuters who work in knowledge-based, white-collar professions. For example, Silicon Valley has large numbers of people who telecommute. Other at-home workers may be self-employed people who operate small businesses out of their homes.
Setting & Lifestyle
Another notable thing is that Bal Harbour is an extremely popular vacation destination. A significant portion of the population is seasonal. During the vacation season, the village experiences a large influx of people who take up residence in second homes they own in the area. As the vacation season ends, the population drops again, leaving behind a substantially quieter and smaller village.
Bal Harbour is also nautical, which means that parts of it are somewhat historic and touch the ocean or tidal bodies of water, such as inlets and bays. Quite often, nautical areas such as these attract visitors and locals who come to enjoy the scenery and various waterfront activities.
In Bal Harbour, however, the average commute to work is quite long. On average, people spend 34.92 minutes each day getting to work, which is significantly higher than the national average.
Bal Harbour is a small village, and as such doesn't have a public transit system that people use to get to and from their jobs every day.
Demographics
Do you like to read, write and learn? If you move to Bal Harbour, you'll likely find that many of your neighbors like to as well. Bal Harbour is one of the more educated communities in America, with a full 64.74% of its adults having a college degree or even advanced degree, compared to a national average across all communities of 21.84%.
The per capita income in Bal Harbour in 2022 was $101,899, which is wealthy relative to Florida and the nation. This equates to an annual income of $407,596 for a family of four. However, Bal Harbour contains both very wealthy and poor people as well.
Bal Harbour is an extremely ethnically-diverse village. The people who call Bal Harbour home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Bal Harbour residents report their race to be White, followed by Black or African-American. Bal Harbour also has a sizeable Hispanic population (people of Hispanic origin can be of any race). People of Hispanic or Latino origin account for 32.78% of the village’s residents. Important ancestries of people in Bal Harbour include European, Russian, Polish, Irish, and Hungarian.
Foreign born people are also an important part of Bal Harbour's cultural character, accounting for 42.97% of the village’s population.
The most common language spoken in Bal Harbour is English. Other important languages spoken here include Spanish and French.
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.
Real Estate
is a neighborhood that is on the ocean, a bay, or inlet. Many times, such places have amenities that bring locals and visitors to the waterfront for recreational activities or to check out the scenery. In some densely populated areas that are less financially well-off, the neighborhood waterfront can be relatively industrial and less open to recreation. In addition to being coastal, is a very nautical neighborhood, meaning that it is somewhat historic, walkable, densely populated and on the water. This gives the neighborhood a very nautical feel, with some seaside and shipping feel, which some may really enjoy the sights and sounds of.
In addition, despite all of the residential real estate here in the neighborhood, NeighborhoodScout has discovered that much of it is vacant. In resort or second-home vacation areas, this naturally occurs because homes and apartments are seasonally occupied, and empty for a portion of the year. In non-vacation or resort areas, however, this can be an indicator of property abandonment or a weak real estate market. The vacancy rate here is 64.1%, which is higher than 99.5% of all U.S. neighborhoods.
Furthermore, the real estate in the 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, 90.8% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 98.3% of American neighborhoods.
Diversity
Did you know that the neighborhood has more Russian and South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 8.7% of this neighborhood's residents have Russian ancestry and 14.4% have South American ancestry.
is also pretty special linguistically. Significantly, 3.1% 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 98.6% of the neighborhoods in America.
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 neighborhood has a greater percentage of residents born in another country (43.0%) than are found in 95.3% 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 neighborhood in Bal Harbour are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 65.4% of the neighborhoods in America. With 49.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 93.7% 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 neighborhood, 57.6% 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 16.7% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (15.2%), and 10.5% 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 neighborhood is English, spoken by 44.5% of households. Other important languages spoken here include Spanish, French and Portuguese.
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 neighborhood in Bal Harbour, FL, residents most commonly identify their ethnicity or ancestry as South American (14.4%). There are also a number of people of Russian ancestry (8.7%), and residents who report Cuban roots (6.8%), and some of the residents are also of Polish ancestry (5.8%), along with some Irish ancestry residents (3.7%), among others. In addition, 43.0% 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 neighborhood spend between 30 and 45 minutes commuting one-way to work (32.1% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (59.1%) 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 (15.9%) and 5.3% of residents also hop out the door and walk to work 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.
SCOUT’s patented match algorithm identifies the most similar neighborhoods to a subject location, and quantifies the similarity to the subject location. This allows analysts to identify the most similar neighborhoods in a local market area for appraisals, investments, and research.
The algorithm uses 273 neighborhood conditions, identifies the dominant dimensions underlying the conditions and calculates the similarity. This captures the true culture and character of locations, economic conditions, and trends.
The closer to 100% means the locations are nearly identical. 80% is a very good, but not excellent match, and so forth.
