609 Ocean Dr 7h, Key Biscayne
Miami-Dade County Real Estate - Key Biscayne
Key Biscayne is in South East Florida. It's population as recorded in the 2010 Census was 12,344. Key Biscayne is approximately 8 miles from Miami (population 399,457) and around 13 miles from Hialeah (population 224,669).
The median age for residents of Key Biscayne is 41.8. Around 38.4% of Key Biscayne households include school aged children and 32.9% of households include individuals aged 65 years or over. Census records indicate 96.1% of the Key Biscayne population are White, .4% are Black or African American, .1% American Indian, 1% Asian and 1.2% are Two or more Races. Key Biscayne has a significant Hispanic population. 61.5% (7,602) of Key Biscayne residents are of Hispanic or Latino origin. Of these 6.7% are of Mexican origin, 2.52% Puerto Rican, 26.97% Cuban and 63.78% are of other Hispanic or Latino origin.
There are 7,072 housing units in Key Biscayne. 2,368 (33.4%) of these were reported as vacant in the 2010 Census. Key Biscayne is a tourist destination, 80% (1,896) of it's vacant housing units were classed as seasonal, recreational or for occasional use. There are 1,678 residential rental units in Key Biscayne. 1,456 of them were occupied in 2010 providing a residential rental vacancy rate of 12.3%.
Key Biscayne links:
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Miami-Dade County
Miami-Dade County is part of the southeast Florida region along with Indian River, St. Lucie, Martin, Palm Beach, Broward, and Monroe counties. Miami Dade County has 35 cities and incorporates many different geographical areas. The north, central, and east regions are heavily urbanized, with many large skyscrapers and a dense population. The southern region of Miami-Dade County is sparsely populated and is the heart of Miami-Dade's agricultural economy. The western region of the county includes the Everglades National Park and is inhabited only by a tribal village. The county is home to around 2.5 million people, making it the most populous in Florida and number seven in the country.
Major industries for this county are tourism, international trade, international banking, and transportation. Top public employers are Miami-Dade County Public Schools, Miami-Dade County, the Federal Government, Florida State Government, and Jackson Health Systems. Major private employers include the University of Miami, Baptist Health South Florida, Publix Supermarkets, American Airlines, and Precision Response Corporation.
The county's seat and largest city is Miami. Miami's close proximity to Latin America and the Caribbean makes it the center for international trade with those areas. The city?s population is 70% Hispanic. The concentration of Latin American businesses and international banks in the city has given it the nickname ?Capital of Latin America?. PortMiami acts as one of the largest cruise spots in the world. Miami International Airport is one of the busiest ports of entry for foreign travelers and handles the most international air cargo of any airport in the country.
Miami-Dade is also a major tourist destination, especially in the city of Miami Beach. The historic 1920s Art Deco hotels on Ocean Drive are well-known landmarks, many of which have historic designations. Visitors enjoy the warm weather, sandy beaches, and nightlife of South Beach. It is also a major convention destination. The annual Art Basel Miami and its satellite fairs bring the foremost art collectors to South Beach and the Miami neighborhood of Wynwood.
Miami-Dade County is home to numerous large universities including the private University of Miami, public Florida International University, and Catholic Barry University. The county is also home to historically-black Florida Memorial University and Miami Dade College, the second-largest public university in the nation by enrollment. The Miami-Dade County Public School System is the fifth-largest in the nation.
Neighboring Properties
| Address | Type | Sq Ft | Class | |
|---|---|---|---|---|
| 615 Ocean Dr 2a | Condominium | 1,772 | B |
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| 607 Ocean Dr 5j | Condominium | 1,496 | B |
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| 607 Ocean Dr 2k | Condominium | 1,496 | B |
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| 605 Ocean Dr 2m | Condominium | 1,772 | B |
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| 611 Ocean Dr 3e | Condominium | 1,496 | B |
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| 607 Ocean Dr 4j | Condominium | 1,496 | B |
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| 607 Ocean Dr 4k | Condominium | 1,496 | B |
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| 605 Ocean Dr 4m | Condominium | 1,772 | B |
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| 613 Ocean Dr 5d | Condominium | 1,496 | B |
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| 611 Ocean Dr 5e | Condominium | 1,496 | B |
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| 609 Ocean Dr 5h | Condominium | 1,496 | B |
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| 611 Ocean Dr 6f | Condominium | 1,496 | B |
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| 609 Ocean Dr 6h | Condominium | 1,496 | B |
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| 613 Ocean Dr 7c | Condominium | 1,496 | B |
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| 613 Ocean Dr 7d | Condominium | 1,496 | B |
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| 613 Ocean Dr 9d | Condominium | 1,496 | B |
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| 611 Ocean Dr 9f | Condominium | 1,496 | B |
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| 607 Ocean Dr 9k | Condominium | 1,496 | B |
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| 609 Ocean Dr 10h | Condominium | 1,496 | B |
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| 613 Ocean Dr 11c | Condominium | 1,496 | B |
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| 609 Ocean Dr 11h | Condominium | 1,496 | B |
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| 607 Ocean Dr 11k | Condominium | 1,496 | B |
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| 605 Ocean Dr 11l | Condominium | 1,772 | B |
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| 609 Ocean Dr 2h | Condominium | 1,496 | B |
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| 605 Ocean Dr 9l | Condominium | 1,772 | B |
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| 607 Ocean Dr 9j | Condominium | 1,496 | B |
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| 613 Ocean Dr 2d | Condominium | 1,496 | B |
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| 613 Ocean Dr 5c | Condominium | 1,496 | B |
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| 605 Ocean Dr 10m | Condominium | 1,772 | B |
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| 605 Ocean Dr 3m | Condominium | 1,772 | B |
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| 609 Ocean Dr 6g | Condominium | 1,496 | B |
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| 615 Ocean Dr 7b | Condominium | 1,772 | B |
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| 609 Ocean Dr 2g | Condominium | 1,496 | B |
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| 613 Ocean Dr 4d | Condominium | 1,496 | B |
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| 609 Ocean Dr 4h | Condominium | 1,496 | B |
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| 613 Ocean Dr 6d | Condominium | 1,496 | B |
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| 615 Ocean Dr 8a | Condominium | 1,772 | B |
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| 615 Ocean Dr 8b | Condominium | 1,772 | B |
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| 615 Ocean Dr 11b | Condominium | 1,772 | B |
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| 613 Ocean Dr 11d | Condominium | 1,496 | B |
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| 605 Ocean Dr 7m | Condominium | 1,772 | B |
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| 615 Ocean Dr 10a | Condominium | 1,772 | B |
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| 615 Ocean Dr 2b | Condominium | 1,772 | B |
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| 615 Ocean Dr 3b | Condominium | 1,772 | B |
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| 605 Ocean Dr 4l | Condominium | 1,772 | B |
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| 605 Ocean Dr 6m | Condominium | 1,772 | B |
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| 615 Ocean Dr 9a | Condominium | 1,772 | B |
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| 611 Ocean Dr 10e | Condominium | 1,496 | B |
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| 611 Ocean Dr 2e | Condominium | 1,496 | B |
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Local Household Income
The median household income in this part of Florida is $34,743. The bottom 10% of the population earn less than $8,542 per year. The top 10% earn more than $166,245 per year. The top 1% earn more than $584,884 per year. Most renters earn between $20,148 (20th percentile) and $44,172 (80th percentile) per year. Someone earning the median household income in this area is likely to qualify for a mortgage between $69,486 and $86,858.
The tax assessed value of this property places it in percentile 87 of all properties in this area. This suggests it would appeal to someone earning around $132,143 per year who should qualify for a mortgage between $264,286 and $330,358.
Source: US Census American Community Survey - 2008-2012 ACS 5-year PUMS estimates
Local Rents
The median monthly rent in this part of Florida is $872. Most renters earn between $1,679 and $3,681 per month. They typically spend 37% of their monthly income on rent. Most rents fall in the $544 (20th percentile) to $1,424 (80th percentile) range. The residential vacancy rate is 10%.
This property falls in percentile 87 of all properties in this area. This corresponds to a rent of $1,690 per month and a monthly household income of $4,527 ($54,324 per year)
Nearby Companies
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650 Ocean Dr
650 Ocean Dr
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300 Sunrise Dr
300 Sunrise Dr
300 Sunrise Dr
550 Ocean Dr
550 Ocean Dr
550 Ocean Dr
550 Ocean Dr
550 Ocean Dr
550 Ocean Dr
550 Ocean Dr
550 Ocean Dr
550 Ocean Dr
590 Ocean Dr
590 Ocean Dr
590 Ocean Dr
590 Ocean Dr
590 Ocean Dr
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510 Ocean Dr #205
881 Ocean Dr
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881 Ocean Dr - Ste 27h
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