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Real Estate Prices & Overview

The Hammocks Northeast median real estate price is $479,279, which is more expensive than 57.1% of the neighborhoods in Florida and 63.9% of the neighborhoods in the U.S.

The average rental price in The Hammocks Northeast is currently $3,492, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 79.9% 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

With a real estate vacancy rate of only 0.0%, the The Hammocks Northeast neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.

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

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 The Hammocks Northeast neighborhood. 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.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

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

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 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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