Grand Lakes median real estate price is $703,673, which is more expensive than 76.9% of the neighborhoods in Florida and 76.9% of the neighborhoods in the U.S.
The average rental price in Grand Lakes is currently $4,902, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 97.2% of the neighborhoods in Florida.
Grand Lakes is an urban neighborhood (based on population density) located in Miami, Florida.
Grand Lakes real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Grand Lakes neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
In Grand Lakes, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Grand Lakes is very tight compared to the demand for property here.
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.
This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the Grand Lakes neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.
In addition, if you like the look and ambience of new homes and newly built neighborhoods, you will love the Grand Lakes neighborhood. A whopping 90.9% of the homes and other residential real estate here were built after 1999, which is a higher proportion of new homes then you will find in 98.8% of the neighborhoods in the U.S. Everything here just feels new. In fact, the concentration of newer homes here is so great that they completely dominate the landscape. In most neighborhoods, there is a mixture of ages of residential real estate, but here it is almost completely built during one time frame: 2000 through today.
Furthermore, if you love row houses and attached homes, you will probably really like the Grand Lakes neighborhood. The ambiance, the charm, of row houses is something special. And in sheer abundance of row houses, this neighborhood truly stands out. The real estate here has a higher proportion of row houses and attached homes than nearly any neighborhood in America. In fact, 32.7% of the residential real estate here is classified as row houses and attached homes.
Of note is NeighborhoodScout's research finding that the Grand Lakes 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 Grand Lakes community truly stands out from the rest in this regard.
In addition, astoundingly, the Grand Lakes neighborhood has one of the highest concentrations of divorcees living here than of any neighborhood, a higher concentration than NeighborhoodScout found in 97.1% of U.S. neighborhoods. This may be because people living here divorce more often than others, or that divorced people move here after they become divorced. If you are divorced, you will be in good company in this particular Miami neighborhood.
Also, the Grand Lakes neighborhood is considered a solid choice for executive lifestyles. NeighborhoodScout's analysis ranks it as better than 94.6% of Florida neighborhoods for executive living, based on the wealthy, educated professionals, executives, and managers who choose to reside here, the spacious homes that are prominent features of the real estate in the neighborhood, and the high real estate appreciation rates found here relative to other neighborhoods in the state. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for college students.
Did you know that the Grand Lakes neighborhood has more Cuban and South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 49.9% of this neighborhood's residents have Cuban ancestry and 21.0% have South American ancestry.
Grand Lakes is also pretty special linguistically. Significantly, 90.0% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 99.6% of all U.S. neighborhoods.
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 Grand Lakes neighborhood. What is interesting to note, is that the Grand Lakes neighborhood has a greater percentage of residents born in another country (61.8%) than are found in 99.3% of all U.S. neighborhoods.
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 Grand Lakes neighborhood in Miami are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 77.3% 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 Grand Lakes neighborhood, 53.2% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 16.2% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (16.1%), and 14.4% in clerical, assistant, and tech support occupations.
The most common language spoken in the Grand Lakes neighborhood is Spanish, spoken by 90.0% of households. Some people also speak English (3.8%).
Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.
In the Grand Lakes neighborhood in Miami, FL, residents most commonly identify their ethnicity or ancestry as Cuban (49.9%). There are also a number of people of South American ancestry (21.0%), and residents who report Dominican roots (4.0%), and some of the residents are also of Puerto Rican ancestry (2.6%), along with some Ukrainian ancestry residents (1.7%), among others. In addition, 61.8% of the residents of this neighborhood were born in another country.
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 Grand Lakes neighborhood spend between 30 and 45 minutes commuting one-way to work (42.4% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (81.3%) 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 (6.5%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.