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: Real Estate
Palmetto Bay Village Center is a neighborhood that is on the ocean, a bay, or inlet.
Many times, such places have amenities that bring locals and visitors to the
waterfront for recreational activities or to check out the scenery.
In some densely populated areas that are less financially well-off, the neighborhood
waterfront can be relatively industrial and less open to recreation.
In addition to being coastal, Palmetto Bay Village Center is a very nautical neighborhood,
meaning that it is somewhat historic, walkable, densely populated and
on the water. This gives the neighborhood a very nautical feel,
with some seaside and shipping feel, which some may really enjoy the sights
and sounds of.
In addition, one way that the Palmetto Bay Village Center neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 98.5% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.
Furthermore, with a real estate vacancy rate of only 0.8%, the Palmetto Bay Village Center neighborhood has a lower vacancy rate than 95.8% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.
Notable & Unique: People
If you come to know the people here, you will recognize that you're
in the company of one of the wealthiest communities in the nation. In
fact, a mere 1.8% of America's neighborhoods are wealthier than the
Palmetto Bay Village Center neighborhood. Real estate here is exceedingly
well-maintained, and similarly, tends to maintain its value over time.
The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and
Lexus. If the public schools aren't up to snuff, the residents of this
neighborhood preferentially send their children to private preparatory
schools. Vacation to Disney? Yes, but equally popular are summers in Europe.
As one would expect in a considerably wealthy neighborhood such as this,
Palmetto Bay Village Center also has one of the lowest ratings of child
poverty in the nation.
In addition, a majority of the adults in the Palmetto Bay Village Center neighborhood
are wealthy and educated executives. They own stately
homes that tend to maintain high real estate appreciation rates. Their
upper-level careers keep them busy, but allow them to live comfortably.
If you're an executive and want to keep similar company, consider settling
in this neighborhood, rated as an executive lifestyle
"best choice" neighborhood for Florida by NeighborhoodScout's analysis,
which rated it as better for executive lifestyles than 99.6%
of the neighborhoods in Florida.
In addition to being an excellent choice for highly educated executives, this
neighborhood is also a very good choice for families with school-aged children and urban sophisticates.
Also, some neighborhoods have residents that are more educated than others. But
in this neighborhood there is a dramatic difference. NeighborhoodScout's
exclusive analysis reveals that 37.5% of the adults here have
earned a Masters degree, medical degree, Ph.D. or law degree. This is a
higher rate of people with a graduate degree than is found in
97.8% of U.S. neighborhoods, where the average American
neighborhood has 8.4% of its adults with a graduate degree. If you are
highly educated, you may have much in common with many of your neighbors here.
Notable & Unique: Diversity
Did you know that the Palmetto Bay Village Center neighborhood has more
Spanish and Cuban ancestry people living in it than nearly
any neighborhood in America? It's true! In fact, 4.5% of
this neighborhood's residents have Spanish ancestry and 15.4% have Cuban ancestry.
Palmetto Bay Village Center is also pretty special linguistically. Significantly, 1.8% 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 97.5% of the neighborhoods in America.
Notable & Unique: Occupations
Executives, managers and professionals make up 64.3% of the workforce
in the Palmetto Bay Village Center neighborhood which, according to
NeighborhoodScout's exclusive analysis, is a higher proportion of such
high-level people than is found in 95.9% of the neighborhoods
in America. For this reason, this neighborhood really stands out as unique.