Lago Mar Park median real estate price is $651,631, which is more expensive than 78.0% of the neighborhoods in Florida and 76.9% of the neighborhoods in the U.S.
The average rental price in Lago Mar Park is currently $3,858, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 85.9% of the neighborhoods in Florida.
Lago Mar Park is an urban neighborhood (based on population density) located in Miami, Florida.
Lago Mar Park 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 Lago Mar Park neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.
In Lago Mar Park, the current vacancy rate is 1.0%, which is a lower rate of vacancies than 91.3% of all neighborhoods in the U.S. This means that the housing supply in Lago Mar Park is very tight compared to the demand for property here.
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 Lago Mar Park neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Most neighborhoods are composed of a mixture of ages of homes, but the Lago Mar Park 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, 98.5% of the residential real estate here was built in this one time period.
In addition, owner-occupied real estate dominates the Lago Mar Park neighborhood. In fact, according to NeighborhoodScout research, the percentage of residential real estate occupied by its owner is higher here than in 97.3% of neighborhoods in America.
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 Lago Mar Park 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 12.4% executive lifestyle neighborhoods in the state of Florida. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for college students.
Did you know that the Lago Mar Park neighborhood has more Cuban and South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 48.6% of this neighborhood's residents have Cuban ancestry and 14.8% have South American ancestry.
Lago Mar Park 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.
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. More residents of the Lago Mar Park neighborhood live here today that also were living in this same neighborhood five years ago than is found in 98.5% of U.S. neighborhoods. This neighborhood is really made up of people who know each other, don't move often, and have lived here in this very neighborhood for quite a while. What is interesting to note, is that the Lago Mar Park neighborhood has a greater percentage of residents born in another country (51.0%) than are found in 97.9% of all U.S. neighborhoods.
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 Lago Mar Park neighborhood in Miami are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 84.8% of the neighborhoods in America. With 33.7% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 84.5% 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 Lago Mar Park neighborhood, 50.7% 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 20.2% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (19.4%), and 9.7% in clerical, assistant, and tech support occupations.
The most common language spoken in the Lago Mar Park neighborhood is Spanish, spoken by 79.8% of households. Some people also speak English (19.1%).
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 Lago Mar Park neighborhood in Miami, FL, residents most commonly identify their ethnicity or ancestry as Cuban (48.6%). There are also a number of people of South American ancestry (14.8%), and residents who report Mexican roots (5.3%), and some of the residents are also of Dominican ancestry (4.8%), along with some Asian ancestry residents (4.0%), among others. In addition, 51.0% 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 Lago Mar Park neighborhood spend between 45 minutes and one hour commuting one-way to work (36.3% of working residents), longer and tougher than most commutes in America.
Here most residents (77.1%) 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 (10.7%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.