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Real Estate Prices & Overview

Cove Pointe / Cove Terrace median real estate price is $394,305, which is more expensive than 52.3% of the neighborhoods in Florida and 60.0% of the neighborhoods in the U.S.

The average rental price in Cove Pointe / Cove Terrace is currently $2,578, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 62.1% of Florida neighborhoods.

Cove Pointe / Cove Terrace is a suburban neighborhood (based on population density) located in Panama City, Florida. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).

Cove Pointe / Cove Terrace 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 owner occupied. Many of the residences in the Cove Pointe / Cove Terrace neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

Home and apartment vacancy rates are 6.4% in Cove Pointe / Cove Terrace. NeighborhoodScout analysis shows that this rate is lower than 59.2% of the neighborhoods in the nation, approximately near the middle range for vacancies.

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 Panama City, the Cove Pointe / Cove Terrace 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 Cove Pointe / Cove Terrace 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, Cove Pointe / Cove Terrace 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.

Occupations

With 2.1% of employed workers living in the Cove Pointe / Cove Terrace neighborhood active in the military, this neighborhood has the distinction of having a higher proportion of people in the military than 96.8% of American neighborhoods. This is a major shaper of the neighborhood's culture and character.

People

If you are an executive or professional seeking a neighborhood affording an executive lifestyle, or just wanting to find where other executives live in the area, the Cove Pointe / Cove Terrace neighborhood should be on your list. It has an enviable mix of spacious homes, relatively stable real estate values, and residents that include a number of wealthy executives, managers, and professionals. NeighborhoodScout's exclusive analysis places it as one of the top 13.0% executive lifestyle neighborhoods in the state of Florida.

Diversity

Did you know that the Cove Pointe / Cove Terrace neighborhood has more Scottish and British ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.1% of this neighborhood's residents have Scottish ancestry and 2.3% have British ancestry.

Cove Pointe / Cove Terrace is also pretty special linguistically. Significantly, 1.6% of its residents five years old and above primarily speak German/Yiddish at home. While this may seem like a small percentage, it is higher than 95.1% of the neighborhoods in America.

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 Cove Pointe / Cove Terrace neighborhood in Panama City are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 51.7% of the neighborhoods in America. With 23.0% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 72.2% of U.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 Cove Pointe / Cove Terrace neighborhood, 64.1% 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 15.1% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (14.6%), and 11.7% in government jobs, whether they are in local, state, or federal positions.

Languages

The most common language spoken in the Cove Pointe / Cove Terrace neighborhood is English, spoken by 97.0% of households.

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 Cove Pointe / Cove Terrace neighborhood in Panama City, FL, residents most commonly identify their ethnicity or ancestry as Irish (19.1%). There are also a number of people of German ancestry (18.7%), and residents who report English roots (16.9%), and some of the residents are also of Scottish ancestry (5.1%), along with some French ancestry residents (4.9%), among others.

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 Cove Pointe / Cove Terrace neighborhood spend under 15 minutes commuting one-way to work (48.8% of working residents), one of the shortest commutes across America.

Here most residents (85.5%) 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 (8.4%) . 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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