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Real Estate Prices & Overview

Palm Ave / W 42nd St median real estate price is $431,548, which is more expensive than 53.5% of the neighborhoods in Florida and 60.5% of the neighborhoods in the U.S.

The average rental price in Palm Ave / W 42nd St is currently $2,937, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 64.4% of the neighborhoods in Florida.

Palm Ave / W 42nd St is an urban neighborhood (based on population density) located in Hialeah, Florida.

Palm Ave / W 42nd St real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Palm Ave / W 42nd St neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

In Palm Ave / W 42nd St, the current vacancy rate is 2.2%, which is a lower rate of vacancies than 85.4% of all neighborhoods in the U.S. This means that the housing supply in Palm Ave / W 42nd St 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 Hialeah, the Palm Ave / W 42nd St neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

The Palm Ave / W 42nd St neighborhood stands out within Florida for its college student friendly environment. NeighborhoodScout's analysis reveals that this neighborhood is home to a number of college students, is relatively walkable, and above average in safety. In combination, this makes it stand out for a good place for college students to consider. Because a number of college students live here, this neighborhood may be close to a college campus and offer certain amenities nearby geared towards the student body. While it's not an environment for everyone, ambitious scholars can enjoy seasonal excitement between semesters and school breaks, and parents can rest easy knowing that the area has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 7.2% of college-friendly places to live in FL.

Diversity

Did you know that the Palm Ave / W 42nd St neighborhood has more Cuban and South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 79.1% of this neighborhood's residents have Cuban ancestry and 9.2% have South American ancestry.

Palm Ave / W 42nd St is also pretty special linguistically. Significantly, 92.9% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 99.8% of all U.S. neighborhoods.

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. What is interesting to note, is that the Palm Ave / W 42nd St neighborhood has a greater percentage of residents born in another country (71.1%) than are found in 99.8% 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 Palm Ave / W 42nd St neighborhood in Hialeah are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 89.4% of U.S. neighborhoods. With 22.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 72.0% of U.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 Palm Ave / W 42nd St neighborhood, 32.4% of the working population is employed in manufacturing and laborer occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 25.4% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (21.0%), and 20.8% in executive, management, and professional occupations.

Languages

The most common language spoken in the Palm Ave / W 42nd St neighborhood is Spanish, spoken by 92.9% of households. Some people also speak English (7.1%).

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Palm Ave / W 42nd St neighborhood in Hialeah, FL, residents most commonly identify their ethnicity or ancestry as Cuban (79.1%). There are also a number of people of South American ancestry (9.2%), and residents who report Mexican roots (3.4%). In addition, 71.1% 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 Palm Ave / W 42nd St neighborhood spend between 30 and 45 minutes commuting one-way to work (40.7% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (81.0%) 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 (12.3%) . 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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Economics & Demographics include:
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Commute To Work
Migration & Mobility
Race & Ethnic Diversity
Employment Industries & Occupations
Income & Unemployment Rate
Higher Education Attainment
Crime includes:
Neighborhood Crime Index
Crimes Per Square Mile
Property Crime Comparison
Violent Crime Comparison
Schools include:
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