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Real Estate Prices & Overview

Palm Lakes Industrial Park median real estate price is $794,864, which is more expensive than 87.2% of the neighborhoods in Florida and 84.4% of the neighborhoods in the U.S.

The average rental price in Palm Lakes Industrial Park is currently $2,783, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 43.8% of Florida neighborhoods.

Palm Lakes Industrial Park is an urban neighborhood (based on population density) located in Hialeah, Florida.

Palm Lakes Industrial Park 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 occupied by a mixture of owners and renters. Many of the residences in the Palm Lakes Industrial 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.

Real estate vacancies in Palm Lakes Industrial Park are 5.2%, which is lower than one will find in 65.5% of American neighborhoods. Demand for real estate in Palm Lakes Industrial Park 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

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.

Modes of Transportation

While most Americans do drive to work alone each day, the Palm Lakes Industrial Park neighborhood stands out by having 93.5% of commuters doing so, which is a higher proportion of people driving alone to work than NeighborhoodScout found in 99.0% of all American neighborhoods.

Occupations

More people work in manufacturing and as laborers here in the Palm Lakes Industrial Park neighborhood than in 98.6% of the neighborhoods in America. Despite the loss of manufacturing jobs across the nation, this neighborhood remains a place where, compared to other parts of the country, you will find many laborers and manufacturers.

Real Estate

Most neighborhoods are composed of a mixture of ages of homes, but the Palm Lakes Industrial 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, 83.9% of the residential real estate here was built in this one time period.

People

With a nice mix of college students, safety from crime, and decent walkability, the Palm Lakes Industrial Park neighborhood rates highly as a college student friendly place to live, and one that college students and their parents may want to consider. NeighborhoodScout's analysis shows that it rates more highly for a good place for college students to live than 89.4% of the neighborhoods in FL. This often also means that the area has certain amenities and services geared towards college students, from undergraduates to graduate students.

Diversity

Did you know that the Palm Lakes Industrial Park neighborhood has more Cuban and Dominican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 66.4% of this neighborhood's residents have Cuban ancestry and 4.7% have Dominican ancestry.

Palm Lakes Industrial Park is also pretty special linguistically. Significantly, 94.4% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 99.9% 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 Palm Lakes Industrial Park neighborhood. What is interesting to note, is that the Palm Lakes Industrial Park neighborhood has a greater percentage of residents born in another country (68.6%) than are found in 99.7% 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 Palm Lakes Industrial Park neighborhood in Hialeah are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 40.6% of the neighborhoods in America. In addition, 3.6% 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 69.3% of America'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 Palm Lakes Industrial Park neighborhood, 48.7% of the working population is employed in manufacturing and laborer occupations. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 36.0% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (10.1%), and 5.3% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Palm Lakes Industrial Park neighborhood is Spanish, spoken by 94.4% of households. Some people also speak English (3.8%).

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 Palm Lakes Industrial Park neighborhood in Hialeah, FL, residents most commonly identify their ethnicity or ancestry as Cuban (66.4%). There are also a number of people of South American ancestry (7.0%), and residents who report Dominican roots (4.7%), and some of the residents are also of Asian ancestry (2.1%), along with some Puerto Rican ancestry residents (1.5%), among others. In addition, 68.6% 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 Palm Lakes Industrial Park neighborhood spend between 30 and 45 minutes commuting one-way to work (47.8% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (93.5%) 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.


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