logo
    AI-Generated Neighborhood Summary

    Location and Amenities

    1340 NW 70th St is located in the Liberty City neighborhood of Miami, FL. The area offers a variety of amenities. There are several parks nearby, including Arcola Lakes Park and Westview Park, which provide recreational opportunities. Grocery stores such as Publix and local markets are accessible, providing convenient shopping options. The neighborhood is a short drive to Miami's vibrant city center, offering access to tourist attractions like the Miami Design District, Wynwood Walls, and the famous Miami Beach.

    Crime Rate and School District

    Liberty City has historically had higher crime rates compared to other parts of Miami, although efforts have been made to improve safety. Regarding education, the property falls within the Miami-Dade County Public Schools district, which has schools with varying ratings; it’s advisable to check the specific schools assigned to the property for detailed ratings. There are several public and charter schools in the area, providing educational options for families.

    Economic and Employment Information

    The average household income in Liberty City is generally lower than the Miami metropolitan area average. Economic conditions can vary greatly between nearby neighborhoods, with some areas such as Little Haiti and Allapattah also experiencing similar income levels. The area has seen some job growth, largely influenced by broader developments in Miami-Dade County. Proximity to Miami's city center (approximately 7-8 miles away) provides residents with access to a larger job market, including sectors like tourism, finance, and healthcare, contributing to the potential for future growth and development in the neighborhood.

    Read less
    StreetView
    Neighborhood Insights
    Key metrics about this location

    Neighborhood Summary

    Nestled in an area characterized by affordability, this neighborhood presents a median home price of $209,300, which is notably lower than the national average. This affordability can be a significant draw for budget-conscious buyers or investors looking for cost-effective opportunities. However, the financial landscape here tells a complex story. With a median household income of $24,500, starkly below the national average, many residents face economic challenges. This is evidenced by the high percentage of the population living under the poverty line, which stands at 45%, significantly higher than the national norm. Despite these economic hurdles, the rental market remains accessible, with a median contract rent of $286, offering a rare affordability that is difficult to find elsewhere.

    The neighborhood's composition is primarily renting households, with 56% of the population choosing to rent. Only 20% are homeowners, and a substantial 24% of housing units remain vacant, reflecting a potentially transient demographic or economic instability. The unemployment rate here is 12%, nearly double the national average, suggesting limited employment opportunities. These economic challenges are compounded by educational barriers, as only 4% of residents hold a college degree, which could influence the types of jobs available and the overall economic mobility within the community. Of those who do own homes, 33% own without mortgages, a sign of economic resilience amid financial adversity.

    In terms of demographics, the neighborhood is predominantly Black, with a small percentage of non-US citizens at 9%. The community’s family structure varies from broader national patterns, with only 18% of households comprising married-couple families, suggesting a diverse range of household types. The financial burdens on homeowners are noteworthy, with 31% spending more than 30% of their income on mortgages, which is a critical indicator of financial strain. Though specific data on renters in similar situations isn’t available, the overall economic landscape suggests that affordability issues are pervasive.

    Given some of these challenges, prospective homebuyers or investors might consider alternative neighborhoods offering similar price points but with more favorable conditions. Areas with better employment rates, higher educational attainment, and lower vacancy rates could provide a more stable investment or living environment. Such neighborhoods might offer improved prospects for growth and stability, potentially enhancing long-term financial well-being. In conclusion, while this neighborhood offers attractive home prices, the economic and social indicators suggest a need for careful consideration before investing or purchasing.

    Median Home Price

    $209,300

    Walk Score

    -

    Bike Score

    -

    Median Household Income

    $24,500
    Nat'l Avg: $69,021

    Percent Under Poverty

    45%
    Nat'l Avg: 12%

    Median Contract Rent

    $286
    Nat'l Avg: $988

    Owners vs Renters

    20% / 56%
    Nat'l Avg: 57% / 31%

    Vacant Housing Units

    24%
    Nat'l Avg: 11%

    Unemployment Rate

    12%
    Nat'l Avg: 3%

    College Degree

    4%
    Nat'l Avg: 21%

    Dominant Race

    Black
    Nat'l Avg: 68%

    Married-Couple Families

    18%
    Nat'l Avg: 48%

    Owners Without Morgages

    33%
    Nat'l Avg: 38%

    Mortgage ≥ 30% Income

    31%
    Nat'l Avg: 27%

    Rent ≥ 30% Income

    N/A
    Nat'l Avg: 46%

    Non-US Citizens

    9%
    Nat'l Avg: 7%
    Location Map
    Overview of the neighborhood
    Nearby Places
    Essential locations and points of interest in the area

    Olinda Park

    park

    Jackson North Medical Center

    hospital

    Publix Super Market

    grocery store

    Chef Creole

    restaurant

    LA Fitness

    gym

    Miami International Airport

    international airport

    Liberty City Elementary School

    school

    Wynwood Walls

    main attraction

    Neighborhood Assessment
    Key advantages and considerations for this area

    Dynamic Insights

    Property values in the area have increased significantly over the past decade, with assessments rising from approximately $29,961 in 2014 to $218,407 in 2023.
    Annual property taxes have escalated from around $1,090 in 2014 to $3,832 in 2023, reflecting the rise in property values.
    The neighborhood has experienced a surge in real estate activity, with properties like 1345 NW 70th St listing for $370,000 in March 2024, up from a sale price of $110,000 in 2018.
    Given the consistent upward trend in property values and taxes, the area is likely to continue appreciating, making it a potentially lucrative investment opportunity. These insights highlight the significant growth and potential in the real estate market of 1340 NW 70th St, Miami, FL 33147.

    Custom Narratives

    Liberty City's average home value is $409,427, reflecting a 5.3% increase over the past year, indicating a steady appreciation in property values.
    The neighborhood's higher elevation has attracted investors seeking areas less prone to flooding, contributing to ongoing gentrification and rising real estate interest.
    With a population of 27,458, Liberty City is predominantly African American (56%) and Hispanic (40%), fostering a rich cultural tapestry and diverse community.
    The area offers a vibrant dining scene with a variety of local eateries, including Creole, Jamaican, and Southern cuisine, enhancing its appeal to residents and visitors alike. These insights highlight Liberty City's evolving real estate market and its unique community attributes, offering valuable context for potential homebuyers.

    Green Flags

    Proximity to local parks and recreation areas
    Access to a variety of dining and shopping options
    Strong sense of community and neighborhood engagement
    Convenient public transportation links to city attractions

    Red Flags

    High traffic congestion
    Noise pollution from nearby roads
    Limited parking availability
    Occasional flooding during heavy rains
    Flood Risk Assessment
    FEMA flood zone information and historical flooding data

    Flood Zone

    Flood zone information is not available for this property at this time.

    Historical Flooding

    Historical flood damage records are not available for this property.

    Upgrade to Starter Plan

    $29.99/month

    Access to 15 property reports per month

    Detailed neighborhood demographics and lifestyle data

    School ratings and educational opportunities

    Crime statistics and safety assessment

    Property value trends and investment potential

    Flood risk analysis and FEMA zone information

    AI-powered recommendations and insights

    Subscription Features
    15 reports/mo

    Monthly subscription. Download and save reports, access interactive features, and receive monthly market updates.

    Cancel anytime. No long-term commitment required.