Galt Mile median real estate price is $1,182,319, which is more expensive than 94.5% of the neighborhoods in Florida and 92.8% of the neighborhoods in the U.S.
The average rental price in Galt Mile is currently $5,827, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 98.3% of the neighborhoods in Florida.
Galt Mile is a densely urban neighborhood (based on population density) located in Fort Lauderdale, Florida. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).
Galt Mile 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 owner occupied. Many of the residences in the Galt Mile neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.
Vacant apartments or homes are a major fact of life in Galt Mile. The current real estate vacancy rate here is 56.0%. This is higher than the rate of vacancies in 99.1% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (50.8%). 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.
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.
Real Estate
Do you like a coastal setting? If so, this neighborhood may be to your liking. The Galt Mile neighborhood is on the ocean, a bay, or inlet. Often such coastal places have amenities and recreational activities on the waterfront that are attractive to residents and visitors alike. In addition to being coastal, Galt Mile 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.
In addition, despite all of the residential real estate here in the Galt Mile 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 56.0%, which is higher than 99.1% of all U.S. neighborhoods.
Furthermore, one of the really unique and interesting things about the look and setting of the Galt Mile neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 95.3% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 99.0% of all neighborhoods in America.
Also of note, most neighborhoods are composed of a mixture of ages of homes, but the Galt Mile 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, 87.5% of the residential real estate here was built in this one time period.
People
Of note is NeighborhoodScout's research finding that the Galt Mile 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 Galt Mile community truly stands out from the rest in this regard.
In addition, one of the most interesting things about the Galt Mile neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 53.1% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 97.0% of the neighborhoods in America.
Modes of Transportation
A unique way of commuting is simply not to. And in the Galt Mile neighborhood, analysis shows that 36.1% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 99.0% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.
Occupations
The Galt Mile neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 96.0% of the neighborhoods in America. In fact, 71.1% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
Diversity
Did you know that the Galt Mile neighborhood has more French and Eastern European ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 10.1% of this neighborhood's residents have French ancestry and 2.3% have Eastern European ancestry.
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 Galt Mile neighborhood in Fort Lauderdale are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 75.0% 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.
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 Galt Mile neighborhood, 71.1% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 17.1% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (11.8%), and 5.0% in government jobs, whether they are in local, state, or federal positions.
Languages
The most common language spoken in the Galt Mile neighborhood is English, spoken by 87.0% of households. Some people also speak Spanish (9.4%).
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 Galt Mile neighborhood in Fort Lauderdale, FL, residents most commonly identify their ethnicity or ancestry as Italian (19.1%). There are also a number of people of English ancestry (10.6%), and residents who report French roots (10.1%), and some of the residents are also of Irish ancestry (5.7%), along with some South American ancestry residents (4.4%), among others. In addition, 15.3% 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 Galt Mile neighborhood spend between 15 and 30 minutes commuting one-way to work (65.1% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (61.7%) drive alone in a private automobile to get to work. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
