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Real Estate Prices & Overview

Bahama Village median real estate price is $1,254,759, which is more expensive than 95.4% of the neighborhoods in Florida and 93.5% of the neighborhoods in the U.S.

The average rental price in Bahama Village is currently $2,700, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 41.8% of Florida neighborhoods.

Bahama Village is an urban neighborhood (based on population density) located in Key West, Florida.

Bahama Village real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Bahama Village neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1940 and 1969.

Vacant apartments or homes are a major fact of life in Bahama Village. The current real estate vacancy rate here is 31.3%. This is higher than the rate of vacancies in 95.6% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.

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.

Modes of Transportation

If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 14.4% of residents in the Bahama Village neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 99.9% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.

Also, more people in Bahama Village choose to walk to work each day (18.2%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.

People

Bahama Village has the amazing distinction of housing more same sex couples living together than 97.7% of neighborhoods in the U.S. If you are seeking such a neighborhood, NeighborhoodScout's analysis shows that this is one place that you should consider.

Occupations

From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the Bahama Village neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 96.3% of all American neighborhoods.

Real Estate

Despite all of the residential real estate here in the Bahama Village 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 31.3%, which is higher than 95.6% of all U.S. neighborhoods.

Length of Commute

Whether walking, biking, riding, or driving, the length of one's commute is an important factor for one's quality of life. The Bahama Village neighborhood stands out for its commute length, according to NeighborhoodScout's analysis. Residents of the Bahama Village neighborhood have the pleasure of having one of the shortest commutes to work of any neighborhood in America. 58.8% of the residents have a commute time from home to work (one way) of less than fifteen minutes. This is a higher proportion of residents enjoying a short trip to work than NeighborhoodScout found in 95.6% of U.S. neighborhoods. Less time commuting means more time for other things in life.

Diversity

Did you know that the Bahama Village neighborhood has more Romanian and Iranian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.0% of this neighborhood's residents have Romanian ancestry and 3.2% have Iranian ancestry.

Bahama Village is also pretty special linguistically. Significantly, 0.9% of its residents five years old and above primarily speak Russian at home. While this may seem like a small percentage, it is higher than 95.4% of the neighborhoods in America.

The Neighbors

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 Bahama Village neighborhood in Key West are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 72.2% of U.S. neighborhoods. In addition, 3.9% 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 67.7% 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 Bahama Village neighborhood, 38.9% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 33.6% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (16.0%), and 9.7% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Bahama Village neighborhood is English, spoken by 82.7% of households. Some people also speak Spanish (12.1%).

Ethnicity / Ancestry

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 Bahama Village neighborhood in Key West, FL, residents most commonly identify their ethnicity or ancestry as Cuban (11.3%). There are also a number of people of German ancestry (8.0%), and residents who report English roots (7.4%), and some of the residents are also of Italian ancestry (6.1%), along with some Irish ancestry residents (5.5%), among others. In addition, 23.1% of the residents of this neighborhood were born in another country.

Getting to Work

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 Bahama Village neighborhood spend under 15 minutes commuting one-way to work (58.8% of working residents), one of the shortest commutes across America.

Here most residents (47.9%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (18.2%) and 14.4% of residents also bicycle for their daily commute. 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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