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Real Estate Prices & Overview

40th Street Corridor East median real estate price is $550,481, which is more expensive than 71.5% of the neighborhoods in Florida and 72.9% of the neighborhoods in the U.S.

The average rental price in 40th Street Corridor East is currently $2,663, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 46.8% of Florida neighborhoods.

40th Street Corridor East is a suburban neighborhood (based on population density) located in Temple Terrace, Florida.

40th Street Corridor East real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the 40th Street Corridor East 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 40th Street Corridor East, the current vacancy rate is 1.9%, which is a lower rate of vacancies than 87.2% of all neighborhoods in the U.S. This means that the housing supply in 40th Street Corridor East 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 Temple Terrace, the 40th Street Corridor East neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

Most neighborhoods are composed of a mixture of ages of homes, but the 40th Street Corridor East 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, 82.6% of the residential real estate here was built in this one time period.

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 40th Street Corridor East 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 12.0% executive lifestyle neighborhoods in the state of Florida.

Diversity

Did you know that the 40th Street Corridor East neighborhood has more Arab and Greek ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 7.1% of this neighborhood's residents have Arab ancestry and 2.5% have Greek ancestry.

40th Street Corridor East is also pretty special linguistically. Significantly, 7.3% of its residents five years old and above primarily speak Arabic at home. While this may seem like a small percentage, it is higher than 99.2% of the neighborhoods in America.

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 40th Street Corridor East neighborhood in Temple Terrace are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 61.6% of the neighborhoods in America. In addition, 1.4% 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 77.2% 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 40th Street Corridor East neighborhood, 49.0% 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 22.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (14.3%), and 13.8% in manufacturing and laborer occupations.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the 40th Street Corridor East neighborhood is English, spoken by 80.5% of households. Other important languages spoken here include Spanish and Arabic.

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 40th Street Corridor East neighborhood in Temple Terrace, FL, residents most commonly identify their ethnicity or ancestry as Irish (18.0%). There are also a number of people of German ancestry (14.2%), and residents who report English roots (13.0%), and some of the residents are also of Puerto Rican ancestry (7.8%), along with some Arab ancestry residents (7.1%), among others. In addition, 14.7% 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 40th Street Corridor East neighborhood spend between 15 and 30 minutes commuting one-way to work (32.5% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (75.1%) 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 (9.9%) . 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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