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Real Estate Prices & Overview

Coral Terrace West median real estate price is $737,427, which is more expensive than 82.6% of the neighborhoods in Florida and 81.4% of the neighborhoods in the U.S.

The average rental price in Coral Terrace West 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 West is a suburban neighborhood (based on population density) located in Miami, Florida.

Coral Terrace West 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 West neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

Real estate vacancies in Coral Terrace West are 4.3%, which is lower than one will find in 71.2% of American neighborhoods. Demand for real estate in Coral Terrace West is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

Notable & Unique Neighborhood Characteristics

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

Real Estate

Most neighborhoods have a mixture of ages of homes in them, from new to old, but this neighborhood stands out due to its concentration of residential real estate built in one time frame: from 1940 through 1969, generally considered older, well-established homes. This was a busy time in America for home construction. After the end of World War II, as GIs came home, bought newly built homes on the edges of cities with the help of the GI Bill, and began their families. This housing era generally coincides with the 'Baby Boom' generation (1945 - 1964), and many baby boomers grew up in homes built in this era. But what is so interesting about the Coral Terrace West neighborhood, is that an incredible 83.2% of the homes here were built in this era. So when you walk its streets or drive through, this neighborhood has a look and feel that harkens to that era in American life, a very important slice of Americana.

Diversity

Did you know that the Coral Terrace West neighborhood has more Cuban and South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 64.4% of this neighborhood's residents have Cuban ancestry and 7.6% have South American ancestry.

Coral Terrace West is also pretty special linguistically. Significantly, 82.7% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 98.9% 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 Coral Terrace West neighborhood. What is interesting to note, is that the Coral Terrace West neighborhood has a greater percentage of residents born in another country (56.3%) than are found in 98.8% 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 Coral Terrace West neighborhood in Miami are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 53.2% of the neighborhoods in America. In addition, 9.7% 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 51.5% 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 West neighborhood, 37.0% 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 24.4% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (22.2%), and 16.4% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Coral Terrace West neighborhood is Spanish, spoken by 82.7% of households. Some people also speak English (14.5%).

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 Coral Terrace West neighborhood in Miami, FL, residents most commonly identify their ethnicity or ancestry as Cuban (64.4%). There are also a number of people of South American ancestry (7.6%), and residents who report Spanish roots (2.3%), and some of the residents are also of Puerto Rican ancestry (2.2%), along with some Asian ancestry residents (1.7%), among others. In addition, 56.3% 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 Coral Terrace West neighborhood spend between 15 and 30 minutes commuting one-way to work (60.3% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (79.3%) 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 (8.7%) . 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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