Silver Lakes South median real estate price is $644,113, which is more expensive than 76.4% of the neighborhoods in Florida and 76.5% of the neighborhoods in the U.S.
The average rental price in Silver Lakes South is currently $5,560, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 97.6% of the neighborhoods in Florida.
Silver Lakes South is an urban neighborhood (based on population density) located in Miramar, Florida.
Silver Lakes South real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes. Most of the residential real estate is owner occupied. Many of the residences in the Silver Lakes South neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.
In Silver Lakes South, 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 Silver Lakes South is very tight compared to the demand for property here.
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 Miramar, the Silver Lakes South neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Real Estate
Real estate in the Silver Lakes South neighborhood is almost exclusively owner-occupied. NeighborhoodScout's analysis reveals that this neighborhood has a higher rate of owner-occupied housing than is found in 97.9% of U.S. neighborhoods. If you are seeking to rent, this neighborhood may not have many options, but high rates of ownership often indicate stability in a neighborhood. 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 Silver Lakes South 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 are composed of a mixture of ages of homes, but the Silver Lakes South stands out as rather unique in having nearly all of its residential real estate built in one time period, namely between 1970 and 1999, generally considered to be established, but not old housing. What you'll sense when you look around or drive the streets of this neighborhood is that many of the residences look the same because of this similarity of age. In fact, 93.5% of the residential real estate here was built in this one time period.
Furthermore, some neighborhoods are made up of apartments. Some consist of row houses, and most - by far - consist of a mixture of housing types. But the Silver Lakes South neighborhood stands out due to the total dominance of detached, single-family homes here. There are nearly no other types of residential real estate in the neighborhood. In fact, this neighborhood has a higher proportion of single-family homes in its real estate stock than 98.7% of all American neighborhoods.
People
Of note is NeighborhoodScout's research finding that the Silver Lakes South 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 Silver Lakes South community truly stands out from the rest in this regard.
In addition, single parenting is hard. But you don't have to tell the Silver Lakes South neighborhood about it; they already know. 20.6% of this neighborhood's households are run by single mothers, which is a higher concentration than NeighborhoodScout found in 97.3% of American neighborhoods. Further NeighborhoodScout research showed strong statistical correlations among high rates of children living in single parent households, and neighborhood crime, particularly violent crime, neighborhood poverty, and, importantly, the percentage of low weight births and rates of infant mortality.
Also, according to NeighborhoodScout's exclusive analysis, Silver Lakes South is among the best neighborhoods for families in Florida. In fact, this neighborhood is more family-friendly than 97.0% of neighborhoods in the entire state of Florida. Its combination of top public schools, low crime rates, and owner-occupied single family homes gives this area the look and feel of a "Leave It to Beaver" episode. Many other families also live here, making it easy to socialize and develop a strong sense of community. In addition, the high number of college-educated parents influences the academic success of the local schools. Overall, you will find all of the amenities a family needs to thrive in the Silver Lakes South neighborhood.
Diversity
Did you know that the Silver Lakes South neighborhood has more Cuban and South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 21.8% of this neighborhood's residents have Cuban ancestry and 11.7% have South American ancestry.
Silver Lakes South is also pretty special linguistically. Significantly, 1.0% of its residents five years old and above primarily speak Urdu, which is the national language of Pakistan, at home. While this may seem like a small percentage, it is higher than 97.1% of the neighborhoods in America.
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. More residents of the Silver Lakes South neighborhood live here today that also were living in this same neighborhood five years ago than is found in 96.5% 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.
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 Silver Lakes South neighborhood in Miramar are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 83.8% 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.
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 Silver Lakes South neighborhood, 44.7% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 23.0% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (16.9%), and 15.4% in manufacturing and laborer occupations.
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 Silver Lakes South neighborhood is English, spoken by 55.5% of households. Other important languages spoken here include Spanish, French and Langs. of India.
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 Silver Lakes South neighborhood in Miramar, FL, residents most commonly identify their ethnicity or ancestry as Cuban (21.8%). There are also a number of people of South American ancestry (11.7%), and residents who report Irish roots (5.7%), and some of the residents are also of Puerto Rican ancestry (4.7%), along with some Jamaican ancestry residents (4.4%), among others. In addition, 30.3% 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 Silver Lakes South neighborhood spend between 30 and 45 minutes commuting one-way to work (42.8% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (68.2%) 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 (14.2%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
