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Real Estate Prices & Overview

Malibu Bay median real estate price is $473,650, which is more expensive than 61.9% of the neighborhoods in Florida and 66.2% of the neighborhoods in the U.S.

The average rental price in Malibu Bay is currently $3,457, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 79.8% of the neighborhoods in Florida.

Malibu Bay is an urban neighborhood (based on population density) located in Homestead, Florida.

Malibu 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 townhomes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Malibu Bay neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

In Malibu Bay, the current vacancy rate is 1.2%, which is a lower rate of vacancies than 90.6% of all neighborhoods in the U.S. This means that the housing supply in Malibu Bay is very tight compared to the demand for property here.

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.

Real Estate

Homes built from 2000 through today make up a higher proportion of the Malibu Bay neighborhood's real estate landscape than 98.8% of the neighborhoods in America. When you are driving around this neighborhood, you'll notice right away that it is one of the newest built of any, with the smell of fresh paint, and the look of young landscaping nearly everywhere you look. In fact, 89.9% of the residential real estate here is classified as newer. In fact, the concentration of newer homes here is so great that they completely dominate the landscape. In most neighborhoods, there is a mixture of ages of residential real estate, but here it is almost completely built during one time frame: 2000 through today.

Diversity

Did you know that the Malibu Bay neighborhood has more Cuban and French ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 25.5% of this neighborhood's residents have Cuban ancestry and 11.9% have French ancestry.

Malibu Bay is also pretty special linguistically. Significantly, 6.1% of its residents five years old and above primarily speak French at home. While this may seem like a small percentage, it is higher than 98.1% of the neighborhoods in America.

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 Malibu Bay neighborhood in Homestead are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 49.9% of the neighborhoods in America. In addition, 6.5% 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 60.0% 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 Malibu Bay neighborhood, 40.5% 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 28.8% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (15.5%), and 15.2% in clerical, assistant, and tech support 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 Malibu Bay neighborhood is Spanish, spoken by 51.5% of households. Other important languages spoken here include English, French and Portuguese.

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 Malibu Bay neighborhood in Homestead, FL, residents most commonly identify their ethnicity or ancestry as Cuban (25.5%). There are also a number of people of French ancestry (11.9%), and residents who report South American roots (11.1%), and some of the residents are also of Puerto Rican ancestry (7.9%), along with some Italian ancestry residents (5.1%), among others. In addition, 34.4% 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 Malibu Bay neighborhood spend between 45 minutes and one hour commuting one-way to work (27.7% of working residents), longer and tougher than most commutes in America.

Here most residents (78.1%) 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 (11.7%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


Real Estate includes:
Average Home Values
Rental Market
Housing Market Details
Neighborhood Setting
Economics & Demographics include:
Lifestyle & Special Character
Household Types
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:
School Ratings
Schools In District
Public School Test Scores
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Educational Expenditures

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