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Real Estate Prices & Overview

Edgewater median real estate price is $1,004,349, which is more expensive than 91.9% of the neighborhoods in Florida and 90.1% of the neighborhoods in the U.S.

The average rental price in Edgewater is currently $4,302, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 91.3% of the neighborhoods in Florida.

Edgewater is a densely urban neighborhood (based on population density) located in Miami, Florida.

Edgewater 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 single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Edgewater neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.

Vacant apartments or homes are a major fact of life in Edgewater. The current real estate vacancy rate here is 16.4%. This is higher than the rate of vacancies in 81.0% 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, the Edgewater neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

The real estate in the Edgewater 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, 96.4% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 99.3% of American neighborhoods.

In addition, 95.4% of the real estate in the Edgewater neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.

Furthermore, if you like the look and ambience of new homes and newly built neighborhoods, you will love the Edgewater neighborhood. A whopping 84.0% of the homes and other residential real estate here were built after 1999, which is a higher proportion of new homes then you will find in 98.0% of the neighborhoods in the U.S. Everything here just feels new. In fact, the concentration of newer homes here is so great that they completely dominate the landscape. In most neighborhoods, there is a mixture of ages of residential real estate, but here it is almost completely built during one time frame: 2000 through today.

Also of note, the Edgewater 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 86.0% 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.

Diversity

Did you know that the Edgewater neighborhood has more South American and Cuban ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 25.4% of this neighborhood's residents have South American ancestry and 19.5% have Cuban ancestry.

Edgewater is also pretty special linguistically. Significantly, 1.7% of its residents five years old and above primarily speak Portuguese at home. While this may seem like a small percentage, it is higher than 97.1% of the neighborhoods in America.

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 Edgewater neighborhood. In the Edgewater neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 97.8% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas. What is also interesting to note, is that the Edgewater neighborhood has a greater percentage of residents born in another country (46.0%) than are found in 96.5% 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 Edgewater 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 60.3% of U.S. neighborhoods. With 19.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 67.7% 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 Edgewater neighborhood, 47.4% 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 30.4% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (15.2%), and 7.0% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Edgewater neighborhood is Spanish, spoken by 56.5% of households. Some people also speak English (34.8%).

Ethnicity / Ancestry

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 Edgewater neighborhood in Miami, FL, residents most commonly identify their ethnicity or ancestry as South American (25.4%). There are also a number of people of Cuban ancestry (19.5%), and residents who report Italian roots (6.6%), and some of the residents are also of Puerto Rican ancestry (5.6%), along with some Sub-Saharan African ancestry residents (2.8%), among others. In addition, 46.0% 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 Edgewater neighborhood spend between 15 and 30 minutes commuting one-way to work (38.9% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (54.4%) 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 (9.0%) and 6.4% of residents also ride the bus 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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