What do we mean by a neighborhood?
NeighborhoodScout® uses the official government designation for neighborhoods - the census tract.
Census tracts are small, relatively permanent subdivisions of a county that are defined by the U.S. Census Bureau in conjunction with local authorities all across the country to define real neighborhoods that are bounded to contain areas with homogeneous population characteristics (including economic status, lifestyle, and living conditions). Census tracts usually have 4,000 persons, but can range between 1,500 and 8,000 persons. This is the most fine-grained area for which detailed information is made available from the government, to protect the individual privacy of each of us. Because census tracts are based on population, they vary in size depending on the density of settlement. In urban areas, they are small, and in rural areas they can cover an entire small town or even a few small towns in very rural areas.
Since census tracts are subdivisions of a county, we did a spatial overlay of the census tracts onto city and town boundaries using a geographic information system to properly assign each census tract to its appropriate city or town. Then we named each census tract to the local colloquially recognized neighborhood name for that spot (e.g., Boston, MA (Dorchester). If there was not a name available, we named the census tract by the largest street intersection in the census tract (e.g., Worcester, MA (Lincoln St/Plantation St)
Why we don't use Zip Codes as neighborhoods
Zip codes were developed by the Postal Service for the purpose of delivering mail, but were never intended to define coherent neighborhoods. In addition, Zip Codes can have as many as 10 distinctly different census tracts contained within them. When distinct census tracts are blended together in a single Zip Code, the data reflects their average conditions and often gives a false sense of the area. The result is that potentially great matching neighborhoods can be missed, and erroneous matches can also be produced and delivered to you.
Using census tracts makes great matches possible, and helps people find the areas that are best for them and their families. Because we are committed to providing the highest possible quality and finding the neighborhoods that best meet your criteria, we use census tracts. And, as always, we show you the actual street map of the neighborhood so you know exactly where your best matching neighborhood is located.
What is a Condition Alert?
A condition alert is a condition in the neighborhood that triggers an alert. NeighborhoodScout contains condition alerts to highlight conditions that are extreme, whether good or bad. This helps answer crucial questions about the state of the neighborhood being evaluated, such as:
What are the risks of violent crime here?
Is the risk of home break-ins or other property crimes increasing?
Does real estate here hold its value?
Are the trends in local vacancies or unemployment concerning?
...and dozens more.
Information at a glance that you need to know to invest, appraise or finance a property.
Henderson Park median real estate price is $428,432, which is more expensive than 50.8% of the neighborhoods in Florida and 57.5% of the neighborhoods in the U.S.
The average rental price in Henderson Park is currently $2,311, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 60.2% of Florida neighborhoods.
Henderson Park is a densely urban neighborhood (based on population density) located in Miami, Florida.
Henderson 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 small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Henderson Park neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
In Henderson Park, the current vacancy rate is 1.9%, which is a lower rate of vacancies than 86.2% of all neighborhoods in the U.S. This means that the housing supply in Henderson Park is very tight compared to the demand for property here.
Notable & Unique Neighborhood Characteristics
Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Miami, the Henderson Park neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Real Estate
The Henderson Park neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 94.9% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
In addition, 96.7% of the real estate in the Henderson Park neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
Furthermore, if you like crowded places, then you will probably enjoy the the Henderson Park neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 96.6% of neighborhoods in the U.S., with 28,171 people per square mile living here.
Occupations
More people work in manufacturing and as laborers here in the Henderson 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.
Modes of Transportation
More people in Henderson Park choose to walk to work each day (15.2%) 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.
Migration / Stability
Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. What is interesting to note, is that the Henderson Park neighborhood has a greater percentage of residents born in another country (70.6%) than are found in 99.8% of all U.S. neighborhoods.
Diversity
Did you know that the Henderson Park neighborhood has more Cuban and South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 29.4% of this neighborhood's residents have Cuban ancestry and 6.3% have South American ancestry.
Henderson Park is also pretty special linguistically. Significantly, 90.2% 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.
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 Henderson Park neighborhood in Miami are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 93.7% of U.S. neighborhoods. With 21.0% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 71.1% of U.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 Henderson 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 sales and service jobs, from major sales accounts, to working in fast food restaurants, with 31.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (10.7%), and 8.9% in executive, management, and professional occupations.
Languages
The most common language spoken in the Henderson Park neighborhood is Spanish, spoken by 90.2% of households. Some people also speak English (9.6%).
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 Henderson Park neighborhood in Miami, FL, residents most commonly identify their ethnicity or ancestry as Cuban (29.4%). There are also a number of people of South American ancestry (6.3%), and residents who report Puerto Rican roots (5.4%), and some of the residents are also of Mexican ancestry (1.6%). In addition, 70.6% 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 Henderson Park neighborhood spend between 45 minutes and one hour commuting one-way to work (28.8% of working residents), longer and tougher than most commutes in America.
Here most residents (50.2%) 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 (20.2%) and 15.2% of residents also hop out the door and walk to work 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.
SCOUT’s patented match algorithm identifies the most similar neighborhoods to a subject location, and quantifies the similarity to the subject location. This allows analysts to identify the most similar neighborhoods in a local market area for appraisals, investments, and research.
The algorithm uses 273 neighborhood conditions, identifies the dominant dimensions underlying the conditions and calculates the similarity. This captures the true culture and character of locations, economic conditions, and trends.
The closer to 100% means the locations are nearly identical. 80% is a very good, but not excellent match, and so forth.
