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Real Estate Prices & Overview

University Estates / Biscayne Bay median real estate price is $2,503,541, which is more expensive than 99.0% of the neighborhoods in Florida and 98.8% of the neighborhoods in the U.S.

The average rental price in University Estates / Biscayne Bay is currently $3,926, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 83.0% of the neighborhoods in Florida.

University Estates / Biscayne Bay is a suburban neighborhood (based on population density) located in Coral Gables, Florida.

University Estates / Biscayne Bay real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more 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 University Estates / Biscayne Bay neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

Home and apartment vacancy rates are 9.5% in University Estates / Biscayne Bay. NeighborhoodScout analysis shows that this rate is lower than 42.3% of the neighborhoods in the nation, approximately near the middle range for vacancies.

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.

Occupations

Executives, managers and professionals make up 73.1% of the workforce in the University Estates / Biscayne Bay neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 97.3% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.

Modes of Transportation

If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 3.4% of residents in the University Estates / Biscayne Bay neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 96.4% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.

People

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 37.6% 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 96.4% of U.S. neighborhoods, where the average American neighborhood has 13.1% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.

In addition, a majority of the adults in the University Estates / Biscayne Bay 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 95.7% 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 urban sophisticates.

Diversity

Did you know that the University Estates / Biscayne Bay neighborhood has more Cuban and South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 32.9% of this neighborhood's residents have Cuban ancestry and 17.0% have South American ancestry.

University Estates / Biscayne Bay 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 97.3% of the neighborhoods in America.

Migration / Stability

Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the University Estates / Biscayne Bay neighborhood. What is interesting to note, is that the University Estates / Biscayne Bay neighborhood has a greater percentage of residents born in another country (48.6%) than are found in 97.3% of all U.S. neighborhoods.

The Neighbors

There are two complementary 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 University Estates / Biscayne Bay neighborhood in Coral Gables are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 85.6% of the neighborhoods in America. In addition, 7.8% 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 57.1% 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 University Estates / Biscayne Bay neighborhood, 73.1% of the working population is employed in executive, management, and professional 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 17.8% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (5.9%), and 3.3% in manufacturing and laborer 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 University Estates / Biscayne Bay neighborhood is Spanish, spoken by 59.9% of households. Other important languages spoken here include English, Chinese and Polish.

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 University Estates / Biscayne Bay neighborhood in Coral Gables, FL, residents most commonly identify their ethnicity or ancestry as Cuban (32.9%). There are also a number of people of South American ancestry (17.0%), and residents who report Italian roots (6.6%), and some of the residents are also of German ancestry (4.9%), along with some Asian ancestry residents (4.8%), among others. In addition, 48.6% 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 University Estates / Biscayne Bay neighborhood spend between 15 and 30 minutes commuting one-way to work (32.7% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (71.0%) drive alone in a private automobile to get to work. 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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