What do we mean by a neighborhood?
NeighborhoodScout® uses the official government designation for neighborhoods - the census tract.
Census tracts are small, relatively permanent subdivisions of a county that are defined by the U.S. Census Bureau in conjunction with local authorities all across the country to define real neighborhoods that are bounded to contain areas with homogeneous population characteristics (including economic status, lifestyle, and living conditions). Census tracts usually have 4,000 persons, but can range between 1,500 and 8,000 persons. This is the most fine-grained area for which detailed information is made available from the government, to protect the individual privacy of each of us. Because census tracts are based on population, they vary in size depending on the density of settlement. In urban areas, they are small, and in rural areas they can cover an entire small town or even a few small towns in very rural areas.
Since census tracts are subdivisions of a county, we did a spatial overlay of the census tracts onto city and town boundaries using a geographic information system to properly assign each census tract to its appropriate city or town. Then we named each census tract to the local colloquially recognized neighborhood name for that spot (e.g., Boston, MA (Dorchester). If there was not a name available, we named the census tract by the largest street intersection in the census tract (e.g., Worcester, MA (Lincoln St/Plantation St)
Why we don't use Zip Codes as neighborhoods
Zip codes were developed by the Postal Service for the purpose of delivering mail, but were never intended to define coherent neighborhoods. In addition, Zip Codes can have as many as 10 distinctly different census tracts contained within them. When distinct census tracts are blended together in a single Zip Code, the data reflects their average conditions and often gives a false sense of the area. The result is that potentially great matching neighborhoods can be missed, and erroneous matches can also be produced and delivered to you.
Using census tracts makes great matches possible, and helps people find the areas that are best for them and their families. Because we are committed to providing the highest possible quality and finding the neighborhoods that best meet your criteria, we use census tracts. And, as always, we show you the actual street map of the neighborhood so you know exactly where your best matching neighborhood is located.
What is a Condition Alert?
A condition alert is a condition in the neighborhood that triggers an alert. NeighborhoodScout contains condition alerts to highlight conditions that are extreme, whether good or bad. This helps answer crucial questions about the state of the neighborhood being evaluated, such as:
What are the risks of violent crime here?
Is the risk of home break-ins or other property crimes increasing?
Does real estate here hold its value?
Are the trends in local vacancies or unemployment concerning?
...and dozens more.
Information at a glance that you need to know to invest, appraise or finance a property.
Beach Bay median real estate price is $949,028, which is more expensive than 93.5% of the neighborhoods in Florida and 91.2% of the neighborhoods in the U.S.
The average rental price in Beach Bay is currently $2,779, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 41.7% of Florida neighborhoods.
Beach Bay is an urban neighborhood (based on population density) located in Miami Beach, Florida. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).
Beach Bay real estate is primarily made up of small (studio to two bedroom) to large (four, five or more bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Beach Bay neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.
Vacant apartments or homes are a major fact of life in Beach Bay. The current real estate vacancy rate here is 29.1%. This is higher than the rate of vacancies in 94.3% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (26.2%). This can occur in 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. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.
Notable & Unique Neighborhood Characteristics
Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Miami Beach, the Beach Bay neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Real Estate
Do you like a coastal setting? If so, this neighborhood may be to your liking. The Beach Bay neighborhood is on the ocean, a bay, or inlet. Often such coastal places have amenities and recreational activities on the waterfront that are attractive to residents and visitors alike. In addition to being coastal, Beach Bay 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, the Beach Bay neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 96.5% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
Furthermore, one of the really unique and interesting things about the look and setting of the Beach Bay neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 94.9% 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 98.9% of all neighborhoods in America.
Also of note, 84.3% of the real estate in the Beach Bay neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
People
Divorcees may find friendship and understanding in this neighborhood, as 24.6% of its residents are divorced. NeighborhoodScout's exclusive analysis found that this divorce rate is higher than in 98.9% of the neighborhoods in America.
Modes of Transportation
More people ride the bus in this neighborhood each day to get to work than 95.3% of U.S. neighborhoods.
Diversity
Did you know that the Beach Bay neighborhood has more South American and Cuban ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 26.1% of this neighborhood's residents have South American ancestry and 22.8% have Cuban ancestry.
Beach Bay is also pretty special linguistically. Significantly, 1.8% of its residents five years old and above primarily speak Russian at home. While this may seem like a small percentage, it is higher than 98.3% of the neighborhoods in America.
Migration / Stability
The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. What is interesting to note, is that the Beach Bay neighborhood has a greater percentage of residents born in another country (52.2%) than are found in 98.1% of all U.S. neighborhoods.
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 Beach Bay neighborhood in Miami Beach are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 87.9% of U.S. neighborhoods. With 12.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 54.2% of U.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 Beach Bay neighborhood, 38.2% 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 30.2% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (17.5%), and 12.9% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the Beach Bay neighborhood is Spanish, spoken by 72.7% of households. Some people also speak English (22.5%).
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 Beach Bay neighborhood in Miami Beach, FL, residents most commonly identify their ethnicity or ancestry as South American (26.1%). There are also a number of people of Cuban ancestry (22.8%), and residents who report Italian roots (13.5%), and some of the residents are also of Puerto Rican ancestry (8.0%), along with some Irish ancestry residents (7.5%), among others. In addition, 52.2% of the residents of this neighborhood were born in another country.
Getting to Work
Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Beach Bay neighborhood spend between 15 and 30 minutes commuting one-way to work (41.7% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (63.7%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (10.9%) and 6.0% of residents also carpool with coworkers, friends, or neighbors 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.
SCOUT’s patented match algorithm identifies the most similar neighborhoods to a subject location, and quantifies the similarity to the subject location. This allows analysts to identify the most similar neighborhoods in a local market area for appraisals, investments, and research.
The algorithm uses 273 neighborhood conditions, identifies the dominant dimensions underlying the conditions and calculates the similarity. This captures the true culture and character of locations, economic conditions, and trends.
The closer to 100% means the locations are nearly identical. 80% is a very good, but not excellent match, and so forth.
