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, real estate in the Palmetto Bay Village Center neighborhood is almost exclusively owner-occupied. NeighborhoodScout's analysis reveals that this neighborhood has a higher rate of owner-occupied housing than is found in 97.4% of U.S. neighborhoods. If you are seeking to rent, this neighborhood may not have many options, but high rates of ownership often indicate stability in a neighborhood. This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the Palmetto Bay Village Center neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.
Furthermore, 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 98.6% 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.
Notable & Unique: People
Wealth makes most things in life easier, and a few things harder.
If you are wealthy and enjoy keeping up with the Jones', this neighborhood
will interest you. In fact, according to NeighborhoodScout's research,
the Palmetto Bay Village Center neighborhood is wealthier than 98.4%
of the neighborhoods in the United States. Residents here are truly in
a unique situation even when compared to other Americans, based on the
shear amount of wealth concentrated here. Even in times of economic
downturn, residents of this neighborhood, as a group, suffered less
and recovered more quickly. This is indeed a stand-out characteristic
of this neighborhood.
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 99.7%
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 , urban sophisticates and college students.
Also, if knowledge is power, then imagine the cumulative power of one neighborhood
where many of the adults have earned an advanced degree, such as a Masters,
law degree, medical degree, or even a Ph.D. This is certainly the case in
the Palmetto Bay Village Center neighborhood, where 34.0% have
earned an advanced degree. Compare that to the average neighborhood in
America, where just 8.4% of adults have completed a post-graduate degree,
and you can see why this neighborhood is a stand out. In fact, this neighborhood
has a higher rate of adults with an advanced degree than 96.8%
of the neighborhoods in America.
Notable & Unique: Diversity
Did you know that the Palmetto Bay Village Center neighborhood has more
British and Spanish ancestry people living in it than nearly
any neighborhood in America? It's true! In fact, 4.0% of
this neighborhood's residents have British ancestry and 4.5% have Spanish ancestry.
Palmetto Bay Village Center is also pretty special linguistically. Significantly, 1.9% 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 97.6% of the neighborhoods in America.
Notable & Unique: Occupations
The Palmetto Bay Village Center neighborhood has a higher proportion of
its residents employed as executives, managers and professionals than
96.5% of the neighborhoods in American. In fact, 65.1%
of the employed people here make a living as an executive, a manager, or
other professional. With such a high concentration, this truly shapes
the character of this neighborhood, and to a large degree defines what
this neighborhood is about.