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Real Estate Prices & Overview

SW 48th St / SW 112th Ave median real estate price is $624,923, which is more expensive than 79.7% of the neighborhoods in Florida and 78.3% of the neighborhoods in the U.S.

The average rental price in SW 48th St / SW 112th Ave is currently $5,185, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 97.1% of the neighborhoods in Florida.

SW 48th St / SW 112th Ave is an urban neighborhood (based on population density) located in Miami, Florida.

SW 48th St / SW 112th Ave real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes. Most of the residential real estate is owner occupied. Many of the residences in the SW 48th St / SW 112th Ave neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

In SW 48th St / SW 112th Ave, the current vacancy rate is 1.3%, which is a lower rate of vacancies than 90.1% of all neighborhoods in the U.S. This means that the housing supply in SW 48th St / SW 112th Ave is very tight compared to the demand for property here.

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, the SW 48th St / SW 112th Ave neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

In a nation where 1 out of every 4 children lives in poverty, the SW 48th St / SW 112th Ave neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

Real Estate

Most neighborhoods have a mixture of ages of homes in them, from new to old, but this neighborhood stands out due to its concentration of residential real estate built in one time frame: from 1940 through 1969, generally considered older, well-established homes. This was a busy time in America for home construction. After the end of World War II, as GIs came home, bought newly built homes on the edges of cities with the help of the GI Bill, and began their families. This housing era generally coincides with the 'Baby Boom' generation (1945 - 1964), and many baby boomers grew up in homes built in this era. But what is so interesting about the SW 48th St / SW 112th Ave neighborhood, is that an incredible 82.7% of the homes here were built in this era. So when you walk its streets or drive through, this neighborhood has a look and feel that harkens to that era in American life, a very important slice of Americana.

In addition, the SW 48th St / SW 112th Ave neighborhood has earned the amazing distinction of having one of the highest rates of detached, single-family homes of any neighborhood in the U.S. With 100.0% of the residential real estate here made up of free-standing single-family homes, there is a greater proportion of single-family homes here than in 98.7% of all neighborhoods in America.

Diversity

Did you know that the SW 48th St / SW 112th Ave neighborhood has more Cuban ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 68.4% of this neighborhood's residents have Cuban ancestry.

SW 48th St / SW 112th Ave is also pretty special linguistically. Significantly, 87.1% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 99.3% of all U.S. neighborhoods.

Migration / Stability

Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. What is interesting to note, is that the SW 48th St / SW 112th Ave neighborhood has a greater percentage of residents born in another country (65.4%) than are found in 99.6% 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 SW 48th St / SW 112th Ave neighborhood in Miami are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 45.8% of the neighborhoods in America. In addition, 0.0% 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 100.0% 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 SW 48th St / SW 112th Ave neighborhood, 26.8% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 26.6% of the residents employed. Other residents here are employed in executive, management, and professional occupations (24.5%), and 22.1% in manufacturing and laborer occupations.

Languages

The most common language spoken in the SW 48th St / SW 112th Ave neighborhood is Spanish, spoken by 87.1% of households. Some people also speak English (11.6%).

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the SW 48th St / SW 112th Ave neighborhood in Miami, FL, residents most commonly identify their ethnicity or ancestry as Cuban (68.4%). There are also a number of people of South American ancestry (5.3%), and residents who report German roots (1.4%), and some of the residents are also of Asian ancestry (1.4%), along with some Italian ancestry residents (1.1%), among others. In addition, 65.4% 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 SW 48th St / SW 112th Ave neighborhood spend between 15 and 30 minutes commuting one-way to work (36.2% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (77.5%) 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 (14.2%) . 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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