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Real Estate Prices & Overview

Overtown West median real estate price is $651,920, which is more expensive than 78.5% of the neighborhoods in Florida and 78.0% of the neighborhoods in the U.S.

The average rental price in Overtown West is currently $2,325, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 62.8% 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

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

Occupations

From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the Overtown West neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 99.8% of all American neighborhoods.

People

One of the unique characteristics of the Overtown West neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 97.6% of the neighborhoods in America. 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

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 Overtown West neighborhood. 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

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 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.

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 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

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 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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