Coral Terrace, Florida, is an unincorporated census-designated place located approximately 7 miles southwest of downtown Miami in Miami-Dade County. With a population of 23,142 as of 2020, it stands out from neighboring cities due to its rich history, cultural diversity, and unique blend of residential neighborhoods and commercial areas. One of its defining features is the Palmetto Expressway, which forms its western boundary and provides easy access to major roadways, including U.S. Route 41, also known as SW 8th Street, and State Road 959, or S Red Road. Residents of Coral Terrace also benefit from being served by the Miami-Dade County Public Schools district, which includes schools like Coral Terrace Elementary School, and have access to various parks such as Schendel Park for recreation.

Community and Lifestyle

Coral Terrace offers a distinct lifestyle that combines the benefits of suburban living with the proximity to urban amenities. Its strategic location near major transportation arteries makes it an attractive option for those seeking apartments in Coral Terrace, FL, or looking into coral terrace Miami apartments for rent, while also desiring easy access to employment, education, and entertainment opportunities in Miami. With its diverse community, rich history, and ongoing development, Coral Terrace presents an exciting prospect for potential home buyers and real estate investors looking to be part of a dynamic and evolving neighborhood.

With a median household income of $80,353, significantly higher than the national average, this vibrant community is an attractive destination for individuals and families seeking a prosperous lifestyle. The population, with a median age of 44.7 years, is slightly older than the national average, indicating a stable and established community. A notable 63.8% of families have dual incomes, contributing to the area's economic stability. The high percentage of 39.6% of households earning six-figure incomes also reflects the community's affluence. For those looking for apartments in Coral Terrace, FL, or considering Coral Terrace Miami apartments, the area offers a range of options, from affordable rentals to luxurious homes, with a median home value of $581,513 and a median rent of $1,759.

The community's strong educational background, with 29.4% of residents holding a bachelor's degree or higher, and 8.5% holding a graduate degree, makes it an ideal location for families and professionals. The average commute time of 25.5 minutes is relatively short, allowing residents to easily access employment opportunities in the surrounding areas. With a 60.3% homeownership rate, slightly lower than the national average, there are still plenty of opportunities for buyers to find their dream home in this desirable community.

Coral Terrace, Florida, is a vibrant and diverse community that offers a wide range of activities and attractions for residents and visitors alike. Located just 7 miles southwest of downtown Miami, Coral Terrace provides easy access to the city's many cultural, entertainment, and recreational opportunities.

Dining

Coral Terrace is home to a variety of restaurants, cafes, and eateries that serve up a range of cuisines, from traditional Cuban and Latin American dishes to modern fusion and international flavors. Residents of apartments in Coral Terrace, FL, can enjoy a night out at one of the many local restaurants, or grab a quick bite at a casual eatery.

Outdoor Recreation

The community is surrounded by beautiful parks and green spaces, including Schendel Park, which offers walking trails, picnic areas, and sports facilities. Residents can also enjoy the nearby Coral Gables Waterway, which provides opportunities for kayaking, paddleboarding, and other water sports. For those looking for Coral Terrace Miami apartments, the area's many outdoor recreational amenities are a major draw.

Arts & Culture

Coral Terrace is located near a number of cultural attractions, including the Coral Gables Museum, the Miami Children's Museum, and the Vizcaya Museum and Gardens. The community also hosts a variety of cultural events and festivals throughout the year, including the Coral Gables Festival of the Arts and the Miami International Film Festival.

Family Activities

Families living in Coral Terrace can enjoy a range of activities and attractions, including the nearby Miami Zoo, the Miami Children's Museum, and the Coral Gables Youth Center. The community is also home to a number of parks and playgrounds, including Schendel Park, which offers a playground, sports fields, and a picnic area. With its many family-friendly amenities and activities, Coral Terrace is an ideal location for families looking for apartments in Coral Terrace, FL.

A Brief History of Coral Terrace, Florida

Coral Terrace, a suburban unincorporated community in Miami-Dade County, Florida, has undergone significant transformations since its early days as an agricultural land. The area's history dates back to the late 19th century when the Florida East Coast Railroad connected South Florida to northern markets, spurring settlement in previously isolated areas. Julia Tuttle, a key landowner and promoter, played a pivotal role in convincing industrialist Henry Flagler to extend the line southward, demonstrating the area's agricultural viability.

In the early 20th century, Coral Terrace was primarily an agricultural land, with residents growing crops such as coconuts, limes, oranges, and mangoes. The construction of the Palmetto Expressway (State Road 826) in the late 1950s marked a significant turning point, as it enhanced connectivity to urban centers and beaches, facilitating the development of residential neighborhoods. The post-war housing boom created a surge in demand for affordable housing, leading to the construction of single-family homes, condominiums, and townhomes, which remain popular today, including apartments in Coral Terrace, FL.

The Cuban Revolution of 1959 further accelerated growth, with many immigrants settling in Coral Terrace and contributing to the local economy. Today, the community is characterized by a high density of 6,889.5 persons per square mile and a predominantly Hispanic or Latino population, comprising 90.1% of residents. The median home value stands at $496,500, with a median household income of $77,396, making coral terrace Miami apartments an attractive option for those looking for affordable housing in a vibrant community.

Coral Terrace's history has shaped its current neighborhood character, with a mix of single-family homes, condominiums, and townhomes, as well as a diverse range of schools, parks, and small businesses. The community's cultural and entrepreneurial influence is evident in its vibrant network of food services and real estate, making it an attractive destination for families and young professionals alike.

Weather Overview in Coral Terrace, Florida

Coral Terrace, Florida, has a humid subtropical climate, characterized by mild winters and hot, humid summers. The area's proximity to the Atlantic Ocean and its low elevation contribute to its subtropical climate. During the summer months, temperatures can soar to highs of around 90°F (32°C) and drop to lows of 70°F (21°C) at night. In contrast, winter temperatures range from highs of 70°F (21°C) to lows of 50°F (10°C).

Precipitation in Coral Terrace is fairly evenly distributed throughout the year, with a slight increase in rainfall during the summer months. The area's coastal influence also leads to occasional tropical storms and hurricanes, which can impact the region during the Atlantic hurricane season. When considering apartments in Coral Terrace, FL, or coral terrace Miami apartments, it's essential to factor in the potential effects of extreme weather on outdoor living spaces and the costs associated with heating and cooling. The warm climate and high humidity levels mean that air conditioning is a necessity for most of the year, while heating costs are generally lower due to the mild winter temperatures. Additionally, the frequent rainfall and potential for severe weather events may require more frequent maintenance of outdoor areas and buildings.

The Coral Terrace market in Miami, Florida is showing signs of stability, with the average home value at $685,843, down 1.7% over the past year, indicating a potential balancing of the market. As a real estate expert at Opulist, I can tell you that this slight decrease in home value, combined with the current for-sale inventory and new listings, suggests that buyers may have more negotiating power in the area. Overall, the market is still relatively strong, making it a good time for buyers and sellers to work with a knowledgeable agent to navigate the current conditions.

Coral Terrace Home Value Index over time.