Coral Terrace median real estate price is $738,148, which is more expensive than 84.7% of the neighborhoods in Florida and 82.1% of the neighborhoods in the U.S.
The average rental price in Coral Terrace is currently $4,382, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 92.0% of the neighborhoods in Florida.
Coral Terrace is an urban neighborhood (based on population density) located in Miami, Florida.
Coral Terrace real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Coral Terrace neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
In Coral Terrace, 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 Coral Terrace is very tight compared to the demand for property here.
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
Owner-occupied real estate dominates the Coral Terrace neighborhood. In fact, according to NeighborhoodScout research, the percentage of residential real estate occupied by its owner is higher here than in 97.8% of neighborhoods in America. With a real estate vacancy rate of only 0.0%, the Coral Terrace 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, the Coral Terrace neighborhood has earned the amazing distinction of having one of the highest rates of detached, single-family homes of any neighborhood in the U.S. With 99.4% of the residential real estate here made up of free-standing single-family homes, there is a greater proportion of single-family homes here than in 98.2% of all neighborhoods in America.
Of note is NeighborhoodScout's research finding that the Coral Terrace neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Coral Terrace community truly stands out from the rest in this regard.
In addition, the Coral Terrace 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 9.5% of college-friendly places to live in FL. In addition to being an excellent choice for college students, this neighborhood is also a very good choice for urban sophisticates.
Did you know that the Coral Terrace neighborhood has more Cuban and South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 65.7% of this neighborhood's residents have Cuban ancestry and 17.9% have South American ancestry.
Coral Terrace is also pretty special linguistically. Significantly, 84.6% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 99.1% of all U.S. neighborhoods.
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 Coral Terrace neighborhood has a greater percentage of residents born in another country (52.2%) than are found in 98.1% of all U.S. neighborhoods.
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 Coral Terrace neighborhood in Miami are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 91.7% of the neighborhoods in America. In addition, 0.0% 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 100.0% 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 Coral Terrace neighborhood, 54.2% 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 20.9% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (13.1%), and 11.8% in clerical, assistant, and tech support occupations.
The most common language spoken in the Coral Terrace neighborhood is Spanish, spoken by 84.6% of households. Some people also speak English (15.4%).
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 Coral Terrace neighborhood in Miami, FL, residents most commonly identify their ethnicity or ancestry as Cuban (65.7%). There are also a number of people of South American ancestry (17.9%), and residents who report Mexican roots (2.5%), and some of the residents are also of German ancestry (1.4%), along with some Irish ancestry residents (1.1%), among others. In addition, 52.2% of the residents of this neighborhood were born in another country.
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 Coral Terrace neighborhood spend between 30 and 45 minutes commuting one-way to work (45.2% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (63.6%) 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 (9.2%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.