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Real Estate Prices & Overview

Byron Ave / 78th St median real estate price is $469,159, which is more expensive than 55.3% of the neighborhoods in Florida and 61.7% of the neighborhoods in the U.S.

The average rental price in Byron Ave / 78th St is currently $3,030, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 65.4% of the neighborhoods in Florida.

Byron Ave / 78th St is a densely urban neighborhood (based on population density) located in Miami Beach, Florida. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).

Byron Ave / 78th St real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Byron Ave / 78th St neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

Vacant apartments or homes are a major fact of life in Byron Ave / 78th St. The current real estate vacancy rate here is 22.1%. This is higher than the rate of vacancies in 89.3% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.

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 Beach, the Byron Ave / 78th St neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

The Byron Ave / 78th St neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 33,423 persons per square mile in the neighborhood, it is more packed with people than 97.3% of the nation's neighborhoods. Do you like a coastal setting? If so, this neighborhood may be to your liking. The Byron Ave / 78th St 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, Byron Ave / 78th St 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.

In addition, the Byron Ave / 78th St neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 90.5% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.

Furthermore, the real estate in the Byron Ave / 78th St neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 82.0% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 97.0% of American neighborhoods.

Modes of Transportation

More people ride the bus in this neighborhood each day to get to work than 98.9% of U.S. neighborhoods.

Occupations

There are more people living in the Byron Ave / 78th St neighborhood employed as sales and service workers (61.1%) than almost any neighborhood in the country. From fast-food service workers to major sales accounts, sales and service workers make up the largest proportion of our national employment picture. But despite that size and importance nationally, this neighborhood still stands out as unique due to the dominance of people living here who work in such occupations.

Diversity

Did you know that the Byron Ave / 78th St neighborhood has more South American and Cuban ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 27.2% of this neighborhood's residents have South American ancestry and 41.4% have Cuban ancestry.

Byron Ave / 78th St is also pretty special linguistically. Significantly, 79.8% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 98.6% 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 Byron Ave / 78th St neighborhood. What is interesting to note, is that the Byron Ave / 78th St neighborhood has a greater percentage of residents born in another country (69.1%) than are found in 99.7% of all U.S. neighborhoods.

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 Byron Ave / 78th St neighborhood in Miami Beach are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 84.0% of U.S. neighborhoods. With 25.7% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 76.4% of U.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 Byron Ave / 78th St neighborhood, 38.9% 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 executive, management, and professional occupations, with 27.6% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (22.1%), and 11.4% in clerical, assistant, and tech support 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 Byron Ave / 78th St neighborhood is Spanish, spoken by 79.8% of households. Other important languages spoken here include English, Portuguese, Tagalog (the first language of the Philippine region) and French.

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 Byron Ave / 78th St neighborhood in Miami Beach, FL, residents most commonly identify their ethnicity or ancestry as Cuban (41.4%). There are also a number of people of South American ancestry (27.2%), and residents who report Italian roots (8.8%), and some of the residents are also of Asian ancestry (3.2%), along with some Irish ancestry residents (3.0%), among others. In addition, 69.1% 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 Byron Ave / 78th St neighborhood spend between 15 and 30 minutes commuting one-way to work (32.2% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (58.0%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (21.4%) and 13.5% of residents also carpool with coworkers, friends, or neighbors for their daily commute. 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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