Real Estate Prices and Overview
NW 7th Ave / NW 5th St median real estate prices are $135,904, which is more expensive than 38.7% of the neighborhoods
in Florida and 40.0% of the
neighborhoods in the U.S.
Average rental prices in NW 7th Ave / NW 5th St are currently
$466, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price then 97.4% of Florida neighborhoods.
NW 7th Ave / NW 5th St is an urban neighborhood (based on population
density) located in Miami, Florida.
NW 7th Ave / NW 5th St 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 NW 7th Ave / NW 5th St neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 2000 and the present.
Vacant apartments or homes are a major fact of life in
NW 7th Ave / NW 5th St. The current real estate vacancy rate here is 20.4%.
This is higher than the rate of vacancies in 85.3% of
all U.S. neighborhoods. This can sometimes be the case in neighborhoods
dominated by seasonal homes (such as vacation areas), and occasionally
it is also found in neighborhoods that are primarily filled with college
students, as some apartments could be vacant when school is not in session.
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.
Notable & Unique: Diversity
Did you know that the NW 7th Ave / NW 5th St neighborhood has more
Cuban and Haitian ancestry people living in it than nearly
any neighborhood in America? It's true! In fact, 29.1% of
this neighborhood's residents have Cuban ancestry and 3.1% have Haitian ancestry.
NW 7th Ave / NW 5th St is also pretty special linguistically. Significantly, 4.9% of its residents five years old and above primarily
speak African languages at home. While this may seem like a small percentage, it is higher
than 98.8% of the neighborhoods in America.
Notable & Unique: Occupations
From major sales accounts to fast-food workers, sales and service employees
are often the backbone of the local economy. In the NW 7th Ave / NW 5th St
neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis
identifies this neighborhood as having a higher percentage of sales and
service workers than 98.4% of all American neighborhoods.
Notable & Unique: People
One of the unique characteristics of the NW 7th Ave / NW 5th St
neighborhood revealed by analysis is that the per capita income of
residents here is lower than that found in 98.1% of the neighborhoods
Also of note, 71.5% of the children in this area
live in poverty; an extraordinarily high percentage compared to other
neighborhoods in the nation. In a nation where approximately one in
four children grows up in poverty, this neighborhood stands out for
the depth of the problem manifested here.
In addition, one of the most interesting things about the NW 7th Ave / NW 5th St
neighborhood is that it has a greater concentration of residents who live
alone than most all neighborhoods in America. With 50.5% of the
households here made up of people living alone, NeighborhoodScout's research
reveals that this is a larger proportion of people living alone than in
97.8% of the neighborhoods in America.
Notable & Unique: 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 NW 7th Ave / NW 5th St
neighborhood has a greater percentage of residents born in another country
(42.2%) than are found in 95.1% of all U.S. neighborhoods.
Notable & Unique: Real Estate
In addition, renter-occupied real estate is dominant in the NW 7th Ave / NW 5th St neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 95.6%, which is higher than 98.3% 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.
Furthermore, one of the really unique and interesting things about the look and setting of the NW 7th Ave / NW 5th St neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 77.3% 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 96.9% of all neighborhoods in America.
The Neighbors: Income
There are two complimentary measures for understanding the income of a
neighborhood's residents: the average and the extremes. While a neighborhood
may be relatively wealthy overall, it is equally important to understand
the rate of people - particularly children - who are living at or below the
federal poverty line, which is extremely low income. Some neighborhoods with
a lower average income may actually have a lower childhood poverty rate than
another with a higher average income, and this helps us understand the
conditions and character of a neighborhood.
The neighbors in the NW 7th Ave / NW 5th St 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 98.1% of U.S. neighborhoods.
With 71.5% of the children here below the federal poverty
line, this neighborhood has a higher rate of childhood poverty than 98.1%
of U.S. neighborhoods.
The Neighbors: Occupations
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 NW 7th Ave / NW 5th St neighborhood, 48.1%
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 28.3% of the residents employed.
Other residents here are employed in manufacturing and laborer occupations
(14.7%), and 8.9% in executive, management, and professional occupations.
The Neighbors: 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 NW 7th Ave / NW 5th St neighborhood in Miami, FL, residents
most commonly identify their ethnicity or ancestry as Cuban
(29.1%). There are also a number of people of South American ancestry (6.9%) , and residents who report Puerto Rican roots (5.6%) , and some of the residents are also of Sub-Saharan African ancestry (4.6%) , along with some Dominican ancestry residents (3.5%), among others. In addition, 42.2% of the residents of this neighborhood were born in another country.
The Neighbors: 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 NW 7th Ave / NW 5th St
neighborhood is Spanish, spoken by 58.5% of households. Other important languages spoken here include English and African languages.
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 NW 7th Ave / NW 5th St neighborhood spend
under 15 minutes commuting one-way to work (33.0% of working
residents), one of the shortest commutes across America.
Here most residents (64.8%) 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 (9.9%) and 8.2% of residents also ride the bus 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.