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Real Estate Prices & Overview

Olympia Heights East median real estate price is $783,190, which is more expensive than 86.3% of the neighborhoods in Florida and 83.9% of the neighborhoods in the U.S.

The average rental price in Olympia Heights East is currently $4,308, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 91.4% of the neighborhoods in Florida.

Olympia Heights East is an urban neighborhood (based on population density) located in Miami, Florida.

Olympia Heights East 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 Olympia Heights East neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

In Olympia Heights East, 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 Olympia Heights East is very tight compared to the demand for property here.

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.

Real Estate

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 Olympia Heights East 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, most neighborhoods have a mixture of ages of homes in them, from new to old, but this neighborhood stands out due to its concentration of residential real estate built in one time frame: from 1940 through 1969, generally considered older, well-established homes. This was a busy time in America for home construction. After the end of World War II, as GIs came home, bought newly built homes on the edges of cities with the help of the GI Bill, and began their families. This housing era generally coincides with the 'Baby Boom' generation (1945 - 1964), and many baby boomers grew up in homes built in this era. But what is so interesting about the Olympia Heights East neighborhood, is that an incredible 83.0% of the homes here were built in this era. So when you walk its streets or drive through, this neighborhood has a look and feel that harkens to that era in American life, a very important slice of Americana.

People

One of the really interesting characteristics about the Olympia Heights East neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 3.9% of college-friendly places to live in the state of Florida. In addition to being an excellent choice for college students, this neighborhood is also a very good choice for families with school-aged children.

Diversity

Did you know that the Olympia Heights East neighborhood has more Cuban and South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 71.0% of this neighborhood's residents have Cuban ancestry and 6.3% have South American ancestry.

Olympia Heights East is also pretty special linguistically. Significantly, 78.6% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 98.4% of all U.S. neighborhoods.

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. More residents of the Olympia Heights East neighborhood live here today that also were living in this same neighborhood five years ago than is found in 95.1% of U.S. neighborhoods. This neighborhood is really made up of people who know each other, don't move often, and have lived here in this very neighborhood for quite a while. What is interesting to note, is that the Olympia Heights East neighborhood has a greater percentage of residents born in another country (45.2%) than are found in 96.2% 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 Olympia Heights East 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 64.1% of the neighborhoods in America. With 11.7% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 53.3% of U.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 Olympia Heights East neighborhood, 44.1% of the working population is employed in executive, management, and professional 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 28.7% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (17.3%), and 9.9% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Olympia Heights East neighborhood is Spanish, spoken by 78.6% of households. Some people also speak English (21.3%).

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 Olympia Heights East neighborhood in Miami, FL, residents most commonly identify their ethnicity or ancestry as Cuban (71.0%). There are also a number of people of South American ancestry (6.3%), and residents who report Irish roots (4.0%), and some of the residents are also of Italian ancestry (2.4%), along with some English ancestry residents (2.4%), among others. In addition, 45.2% 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 Olympia Heights East neighborhood spend between 30 and 45 minutes commuting one-way to work (43.3% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (82.6%) 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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