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Real Estate Prices & Overview

The Hammocks Northeast median real estate price is $453,959, which is more expensive than 57.4% of the neighborhoods in Florida and 63.4% of the neighborhoods in the U.S.

The average rental price in The Hammocks Northeast is currently $3,414, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 78.8% of the neighborhoods in Florida.

The Hammocks Northeast is an urban neighborhood (based on population density) located in Miami, Florida.

The Hammocks Northeast real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four 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 The Hammocks Northeast neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

In The Hammocks Northeast, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in The Hammocks Northeast 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 The Hammocks Northeast neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

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 The Hammocks Northeast 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.

In addition, most neighborhoods are composed of a mixture of ages of homes, but the The Hammocks Northeast stands out as rather unique in having nearly all of its residential real estate built in one time period, namely between 1970 and 1999, generally considered to be established, but not old housing. What you'll sense when you look around or drive the streets of this neighborhood is that many of the residences look the same because of this similarity of age. In fact, 87.1% of the residential real estate here was built in this one time period.

People

The The Hammocks Northeast neighborhood stands out within Florida for its college student friendly environment. NeighborhoodScout's analysis reveals that this neighborhood is home to a number of college students, is relatively walkable, and above average in safety. In combination, this makes it stand out for a good place for college students to consider. Because a number of college students live here, this neighborhood may be close to a college campus and offer certain amenities nearby geared towards the student body. While it's not an environment for everyone, ambitious scholars can enjoy seasonal excitement between semesters and school breaks, and parents can rest easy knowing that the area has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 6.9% of college-friendly places to live in FL.

Diversity

Did you know that the The Hammocks Northeast neighborhood has more South American and Cuban ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 28.9% of this neighborhood's residents have South American ancestry and 40.9% have Cuban ancestry.

The Hammocks Northeast is also pretty special linguistically. Significantly, 89.5% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 99.5% 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 The Hammocks Northeast neighborhood has a greater percentage of residents born in another country (62.3%) than are found in 99.4% 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 The Hammocks Northeast neighborhood in Miami are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 77.4% of U.S. neighborhoods. In addition, 10.0% 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 50.8% of America's neighborhoods.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the The Hammocks Northeast neighborhood, 36.8% 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 24.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (22.0%), and 16.6% in manufacturing and laborer occupations.

Languages

The most common language spoken in the The Hammocks Northeast neighborhood is Spanish, spoken by 89.5% of households. Some people also speak English (9.3%).

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 The Hammocks Northeast neighborhood in Miami, FL, residents most commonly identify their ethnicity or ancestry as Cuban (40.9%). There are also a number of people of South American ancestry (28.9%), and residents who report Dominican roots (4.6%), and some of the residents are also of French ancestry (3.8%), along with some Italian ancestry residents (3.7%), among others. In addition, 62.3% 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 The Hammocks Northeast neighborhood spend between 45 minutes and one hour commuting one-way to work (44.0% of working residents), longer and tougher than most commutes in America.

Here most residents (83.4%) 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 (9.8%) . 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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