Riverside Park median real estate price is $713,093, which is more expensive than 83.2% of the neighborhoods in Florida and 81.0% of the neighborhoods in the U.S.
The average rental price in Riverside Park is currently $3,096, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 67.4% of the neighborhoods in Florida.
Riverside Park is a densely urban neighborhood (based on population density) located in Miami, Florida.
Riverside 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 Riverside Park neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1940 and 1969.
Vacant apartments or homes are a major fact of life in Riverside Park. The current real estate vacancy rate here is 16.8%. This is higher than the rate of vacancies in 81.6% 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.
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
The real estate in the Riverside Park neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 89.8% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 98.2% of American neighborhoods.
In addition, renter-occupied real estate is dominant in the Riverside Park neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 93.4%, which is higher than 97.7% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.
Furthermore, the Riverside Park neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 30,320 persons per square mile in the neighborhood, it is more packed with people than 97.0% of the nation's neighborhoods.
Also of note, the Riverside 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 86.9% 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.
Modes of Transportation
Would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the Riverside Park neighborhood is a fantastic option for bicycle commuters, as 4.3% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 97.6% of the neighborhoods in America.
Also, more people in Riverside Park choose to walk to work each day (10.8%) 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
The Riverside Park neighborhood stands out within Florida for its college student friendly environment. NeighborhoodScout's analysis reveals that this neighborhood is home to a number of college students, is relatively walkable, and above average in safety. In combination, this makes it stand out for a good place for college students to consider. Because a number of college students live here, this neighborhood may be close to a college campus and offer certain amenities nearby geared towards the student body. While it's not an environment for everyone, ambitious scholars can enjoy seasonal excitement between semesters and school breaks, and parents can rest easy knowing that the area has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 8.6% of college-friendly places to live in FL.
Diversity
Did you know that the Riverside Park neighborhood has more South American and Cuban ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 31.5% of this neighborhood's residents have South American ancestry and 16.5% have Cuban ancestry.
Riverside Park is also pretty special linguistically. Significantly, 78.9% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 98.5% 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 Riverside Park neighborhood has a greater percentage of residents born in another country (61.7%) 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 Riverside Park neighborhood in Miami are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 65.7% of U.S. neighborhoods. With 16.7% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 63.2% of U.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 Riverside Park neighborhood, 39.0% 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 27.5% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (23.5%), and 10.0% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the Riverside Park neighborhood is Spanish, spoken by 78.9% of households. Some people also speak English (17.0%).
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 Riverside Park neighborhood in Miami, FL, residents most commonly identify their ethnicity or ancestry as South American (31.5%). There are also a number of people of Cuban ancestry (16.5%), and residents who report Mexican roots (11.0%), and some of the residents are also of Portuguese ancestry (4.7%), along with some Irish ancestry residents (3.9%), among others. In addition, 61.7% 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 Riverside Park neighborhood spend between 30 and 45 minutes commuting one-way to work (41.7% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (50.0%) 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 (15.9%) and 10.8% 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.
