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Real Estate Prices & Overview

Coral Way Southwest median real estate price is $1,160,212, which is more expensive than 95.2% of the neighborhoods in Florida and 93.4% of the neighborhoods in the U.S.

The average rental price in Coral Way Southwest is currently $4,555, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 93.5% of the neighborhoods in Florida.

Coral Way Southwest is a densely urban neighborhood (based on population density) located in Miami, Florida.

Coral Way Southwest 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 Coral Way Southwest neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

Vacant apartments or homes are a major fact of life in Coral Way Southwest. The current real estate vacancy rate here is 19.1%. This is higher than the rate of vacancies in 85.5% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.

Notable & Unique Neighborhood Characteristics

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

Modes of Transportation

More people ride the bus in this neighborhood each day to get to work than 97.3% of U.S. neighborhoods.

Real Estate

91.8% of the real estate in the Coral Way Southwest neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.

In addition, the Coral Way Southwest 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 85.8% 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.

Occupations

With 2.6% of employed workers living in the Coral Way Southwest neighborhood active in the military, this neighborhood has the distinction of having a higher proportion of people in the military than 97.2% of American neighborhoods. This is a major shaper of the neighborhood's culture and character.

People

One of the really interesting characteristics about the Coral Way Southwest neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 3.7% of college-friendly places to live in the state of Florida. In addition to being an excellent choice for college students, this neighborhood is also a very good choice for young, single professionals.

In addition, astoundingly, the Coral Way Southwest neighborhood has one of the highest concentrations of divorcees living here than of any neighborhood, a higher concentration than NeighborhoodScout found in 95.8% of U.S. neighborhoods. This may be because people living here divorce more often than others, or that divorced people move here after they become divorced. If you are divorced, you will be in good company in this particular Miami neighborhood.

Also, an extraordinary 11.3% of the residents of the Coral Way Southwest neighborhood are currently enrolled in college. This is such a large part of life in this neighborhood that the neighborhood changes a great deal with the change of semesters and is far quieter during the summer when many students are away.

Diversity

Did you know that the Coral Way Southwest neighborhood has more Cuban and South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 28.7% of this neighborhood's residents have Cuban ancestry and 14.3% have South American ancestry.

Coral Way Southwest is also pretty special linguistically. Significantly, 59.0% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 95.5% of all U.S. neighborhoods.

Migration / Stability

Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Coral Way Southwest neighborhood. What is interesting to note, is that the Coral Way Southwest neighborhood has a greater percentage of residents born in another country (50.2%) than are found in 97.7% 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 Coral Way Southwest 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 65.7% of U.S. neighborhoods. In addition, 8.3% 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 55.0% of America'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 Coral Way Southwest neighborhood, 66.1% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 12.5% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (11.2%), and 10.3% in clerical, assistant, and tech support 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 Coral Way Southwest neighborhood is Spanish, spoken by 59.0% of households. Other important languages spoken here include English and Chinese.

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 Coral Way Southwest neighborhood in Miami, FL, residents most commonly identify their ethnicity or ancestry as Cuban (28.7%). There are also a number of people of South American ancestry (14.3%), and residents who report Asian roots (7.5%), and some of the residents are also of Puerto Rican ancestry (6.1%), along with some Irish ancestry residents (5.5%), among others. In addition, 50.2% 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 Coral Way Southwest neighborhood spend between 15 and 30 minutes commuting one-way to work (48.1% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (45.8%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (15.0%) and 11.3% of residents also carpool with coworkers, friends, or neighbors 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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