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Real Estate Prices & Overview

Park West median real estate price is $477,977, which is more expensive than 58.2% of the neighborhoods in Florida and 64.2% of the neighborhoods in the U.S.

The average rental price in Park West is currently $3,810, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 85.3% of the neighborhoods in Florida.

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

Park 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 single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Park West neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.

Home and apartment vacancy rates are 8.1% in Park West. NeighborhoodScout analysis shows that this rate is lower than 47.7% of the neighborhoods in the nation, approximately near the middle range for vacancies.

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.

People

Of note is NeighborhoodScout's research finding that the Park West neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Park West community truly stands out from the rest in this regard.

Real Estate

The Park West 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 97.8% 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.

In addition, one of the really unique and interesting things about the look and setting of the Park West neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 94.8% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 98.9% of all neighborhoods in America.

Furthermore, the Park West neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 56,488 persons per square mile in the neighborhood, it is more packed with people than 98.7% of the nation's neighborhoods.

Also of note, most neighborhoods are composed of a mixture of ages of homes, but the Park West stands out as rather unique in having nearly all of its residential real estate built in one time period, namely between 1970 and 1999, generally considered to be established, but not old housing. What you'll sense when you look around or drive the streets of this neighborhood is that many of the residences look the same because of this similarity of age. In fact, 83.2% of the residential real estate here was built in this one time period.

Finally, renter-occupied real estate is dominant in the Park West neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 86.0%, which is higher than 95.6% 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.

Diversity

Did you know that the Park West neighborhood has more South American and Cuban ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 33.2% of this neighborhood's residents have South American ancestry and 11.4% have Cuban ancestry.

Park West is also pretty special linguistically. Significantly, 4.7% 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 99.2% 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. In the Park West neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 97.5% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas. What is also interesting to note, is that the Park West neighborhood has a greater percentage of residents born in another country (69.5%) than are found in 99.7% 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 Park West 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 70.4% of U.S. neighborhoods. In addition, 0.0% 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 100.0% of America's neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Park West neighborhood, 36.9% 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 22.1% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (22.1%), and 18.9% 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 Park West neighborhood is Spanish, spoken by 58.3% of households. Other important languages spoken here include English, Portuguese, Tagalog (the first language of the Philippine region) and Arabic.

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 Park West neighborhood in Miami, FL, residents most commonly identify their ethnicity or ancestry as South American (33.2%). There are also a number of people of Dominican ancestry (13.2%), and residents who report Cuban roots (11.4%), and some of the residents are also of Mexican ancestry (6.9%), along with some Italian ancestry residents (6.8%), among others. In addition, 69.5% 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 Park West neighborhood spend between 15 and 30 minutes commuting one-way to work (53.0% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (67.4%) 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 (10.4%) and 9.2% of residents also take the train 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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