Coral Terrace, FL Profile: Facts & Data

The Coral Terrace CDP⁽¹⁾ had a population of 23,250 as of July 1, 2024. Coral Terrace ranks in the upper quartile for Population Density when compared to the other cities, towns and Census Designated Places (CDPs) in Florida. See peer rankings below.

The primary coordinate point for Coral Terrace is located at latitude 25.7459 and longitude -80.3045 in Miami-Dade County. The formal boundaries for the Coral Terrace Census Designated Place encompass a land area of 3.38 sq. miles and a water area of 0.08 sq. miles. Miami-Dade County is in the Eastern time zone (GMT -5).

The Coral Terrace Census Designated Place has a U1 Census Class Code which indicates a census designated place with an official federally recognized name. It also has a Functional Status Code of "S" which identifies a statistical entity.

Florida is one of 20 states where Census County Divisions (CCDs) are used for statistical tracking of subdivisions within each county. The Coral Terrace Census Designated Place is located within Miami CCD of Miami-Dade County.

A Census Designated Place (CDP) is a statistical counterpart to a self-governing (incorporated) place such as a city, town, or village. A CDP is not a legal entity and has no governmental functions.

Coral Terrace, FL Data & Demographics (As of July 1, 2024)

POPULATION
Total Population	23,250 (100%)
Population in Households	22,975 (98.8%)
Population in Families	18,791 (80.8%)
Population in Group Quarters¹	275 ( 1.2%)
Population Density	6,922
Diversity Index²	64


INCOME
Median Household Income	$82,473
Average Household Income	$111,988
% of Income for Mortgage⁴	40%
Per Capita Income	$37,931
Wealth Index⁵	100
Socioeconomic Status Index⁶	Moderate (46.3)

HOUSING
Total HU (Housing Units)	8,273 (100%)
Owner Occupied HU	5,238 (63.3%)
Renter Occupied HU	2,632 (31.8%)
Vacant Housing Units	403 ( 4.9%)
Median Home Value	$528,286
Average Home Value	$596,072
Housing Affordability Index³	61

HOUSEHOLDS
Total Households	7,870
Average Household Size	2.92
Family Households	5,855
Average Family Size	3.00

NOTES

Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

Coral Terrace, FL - Peer Comparisons by Rank and Percentile

The table below compares Coral Terrace to the other 955 incorporated cities, towns and CDPs in Florida by rank and percentile using July 1, 2024 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

GROWTH RATE / YEAR	2020-2024	2024-2029
Population	0.11%	1.21%
Households	0.38%	1.55%
Families		1.72%
Median Household Income		5.00%
Per Capita Income		4.31%
Owner Occupied HU		0.77%

Variable Description	Rank	Percentile
Total Population	# 193	80th
Population Density	# 60	94th
Median Household Income	# 326	66th
Housing Affordability Index	# 202	21st
Per Capita Income	# 480	50th
Diversity Index	# 403	58th

Coral Terrace, FL Profile: Facts & Data

Coral Terrace, Florida - Basic Facts

Coral Terrace, FL Data & Demographics (As of July 1, 2024)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Coral Terrace, FL - Peer Comparisons by Rank and Percentile

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