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Real Estate Prices & Overview

Princeton median real estate price is $810,414, which is more expensive than 85.5% of the neighborhoods in Florida and 83.2% of the neighborhoods in the U.S.

The average rental price in Princeton is currently $2,819, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 63.6% of the neighborhoods in Florida.

Princeton is a suburban neighborhood (based on population density) located in Miami, Florida.

Princeton real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Princeton neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

Home and apartment vacancy rates are 6.0% in Princeton. NeighborhoodScout analysis shows that this rate is lower than 58.7% of the neighborhoods in the nation, approximately near the middle range for vacancies.

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 Princeton neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Length of Commute

Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the Princeton neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 15.0% of commuters here travel more than one hour just one-way to work. That is more than two hours per day. This percentage with two-hour + round-trip commutes is higher than NeighborhoodScout found in 98.7% of all neighborhoods in America.

Occupations

It used to be that most Americans lived on the farm, or otherwise made their living from the land, the forests, or the sea. With global trade and an economy increasingly based on providing services to one another, fewer people farm, fish or harvest timber now than at any time in American history. But according to NeighborhoodScout's leading analysis, the Princeton neighborhood stands apart from most American neighborhood due to the proportion of its residents still working in these fields. With 5.1% of the workforce so employed, this neighborhood has a greater concentration of such workers than 97.1% of U.S. neighborhoods.

Furthermore, the Princeton neighborhood has a greater proportion of government workers living in it than 95.4% of the neighborhoods in America, according to NeighborhoodScout's exclusive analysis. This is a unique feature of this neighborhood, and one that shapes its character.

Diversity

Did you know that the Princeton neighborhood has more Cuban and Canadian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 42.7% of this neighborhood's residents have Cuban ancestry and 2.9% have Canadian ancestry.

Princeton is also pretty special linguistically. Significantly, 67.2% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 97.1% of all U.S. neighborhoods.

Migration / Stability

The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. What is interesting to note, is that the Princeton neighborhood has a greater percentage of residents born in another country (45.4%) than are found in 96.2% 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 Princeton neighborhood in Miami are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 55.7% of the neighborhoods in America. With 12.0% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 54.7% 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 Princeton neighborhood, 40.5% 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 26.5% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (16.5%), and 12.9% in government jobs, whether they are in local, state, or federal positions.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Princeton neighborhood is Spanish, spoken by 67.2% of households. Other important languages spoken here include English and French.

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 Princeton neighborhood in Miami, FL, residents most commonly identify their ethnicity or ancestry as Cuban (42.7%). There are also a number of people of South American ancestry (5.5%), and residents who report Haitian roots (4.9%), and some of the residents are also of Italian ancestry (3.4%), along with some German ancestry residents (3.3%), among others. In addition, 45.4% 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 Princeton neighborhood spend between 15 and 30 minutes commuting one-way to work (31.2% of working residents), which is shorter than the time spent commuting to work for most Americans. However, there is also a significant group of residents (15.0%) who commute over an hour in each direction.

Here most residents (85.2%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (6.0%) . 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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