South Beach median real estate price is $1,128,054, which is more expensive than 94.9% of the neighborhoods in Florida and 92.9% of the neighborhoods in the U.S.
The average rental price in South Beach is currently $3,762, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 84.5% of the neighborhoods in Florida.
South Beach is a suburban neighborhood (based on population density) located in Vero Beach, Florida. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).
South Beach real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is owner occupied. Many of the residences in the South Beach 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.
Vacant apartments or homes are a major fact of life in South Beach. The current real estate vacancy rate here is 32.7%. This is higher than the rate of vacancies in 95.7% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (19.1%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.
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
South Beach is a neighborhood that is on the ocean, a bay, or inlet. Many times, such places have amenities that bring locals and visitors to the waterfront for recreational activities or to check out the scenery. In some densely populated areas that are less financially well-off, the neighborhood waterfront can be relatively industrial and less open to recreation. In addition to being coastal, South Beach 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. One of the notable things about South Beach is that it is one of the quietest neighborhoods in America, according to NeighborhoodScout's exclusive analysis and quantitative rating of quietness. When you are here, you will find it to be very quiet. If quiet and peaceful are your cup of tea, you may have found a great place for you.
In addition, real estate in the South Beach neighborhood is almost exclusively owner-occupied. NeighborhoodScout's analysis reveals that this neighborhood has a higher rate of owner-occupied housing than is found in 99.2% of U.S. neighborhoods. If you are seeking to rent, this neighborhood may not have many options, but high rates of ownership often indicate stability in a neighborhood. Despite all of the residential real estate here in the South Beach neighborhood, NeighborhoodScout has discovered that much of it is vacant. In resort or second-home vacation areas, this naturally occurs because homes and apartments are seasonally occupied, and empty for a portion of the year. In non-vacation or resort areas, however, this can be an indicator of property abandonment or a weak real estate market. The vacancy rate here is 32.7%, which is higher than 95.7% of all U.S. neighborhoods.
Furthermore, most neighborhoods are composed of a mixture of ages of homes, but the South Beach 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, 89.6% of the residential real estate here was built in this one time period.
People
Wealth makes most things in life easier, and a few things harder. If you are wealthy and enjoy keeping up with the Jones', this neighborhood will interest you. In fact, according to NeighborhoodScout's research, the South Beach neighborhood is wealthier than 98.9% of the neighborhoods in the United States. Residents here are truly in a unique situation even when compared to other Americans, based on the sheer amount of wealth concentrated here. Even in times of economic downturn, residents of this neighborhood, as a group, suffered less and recovered more quickly. This is indeed a stand-out characteristic of this neighborhood. As one would expect in a considerably wealthy neighborhood such as this, South Beach also has one of the lowest ratings of child poverty in the nation.
In addition, astoundingly, NeighborhoodScout's research reveals that this single neighborhood has a higher concentration of married couples living here than 99.9% of all U.S. neighborhoods. Whether they have school-aged children or not, married couples are the rule in the South Beach neighborhood. If you are a married couple, you may find many people here with a similar lifestyle, and perhaps common interests. But if you are single, you might not find many other singles here.
Also, if you are planning to retire in Florida, this neighborhood should be on your must-see list. For many reasons, South Beach may be considered a retiree's dream neighborhood. According to NeighborhoodScout's exclusive analysis and metrics, it's peaceful and quiet, has above average safety from crime compared to other neighborhoods in Florida, while also offering a diverse range of housing options. This, along with the vibrant mix of very educated seniors and other age groups who choose to live here, makes the neighborhood more retiree-friendly than 98.5% of neighborhoods in FL. If a Florida retirement is in your future, this neighborhood should be one of the places you visit. In addition to being an excellent choice for active retirees, this neighborhood is also a very good choice for urban sophisticates and highly educated executives.
Modes of Transportation
In the South Beach neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 38.3% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 99.3% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.
Diversity
Did you know that the South Beach neighborhood has more English and Scottish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 41.7% of this neighborhood's residents have English ancestry and 10.4% have Scottish ancestry.
South Beach is also pretty special linguistically. Significantly, 1.4% of its residents five years old and above primarily speak Greek at home. While this may seem like a small percentage, it is higher than 98.2% of the neighborhoods in America.
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 South Beach neighborhood in Vero Beach 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 98.9% 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 South Beach neighborhood, 64.8% 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 19.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (8.3%), and 7.5% in manufacturing and laborer 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 South Beach neighborhood is English, spoken by 93.6% of households. Other important languages spoken here include Italian and Polish.
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 South Beach neighborhood in Vero Beach, FL, residents most commonly identify their ethnicity or ancestry as English (41.7%). There are also a number of people of Irish ancestry (23.2%), and residents who report German roots (13.6%), and some of the residents are also of Scottish ancestry (10.4%), along with some Italian ancestry residents (7.9%), among others.
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 South Beach neighborhood spend between 15 and 30 minutes commuting one-way to work (52.9% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (56.3%) 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 (5.3%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
