Lakewood median real estate price is $612,379, which is more expensive than 72.6% of the neighborhoods in Arizona and 73.2% of the neighborhoods in the U.S.
The average rental price in Lakewood is currently $3,055, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 79.9% of the neighborhoods in Arizona.
Lakewood is an urban neighborhood (based on population density) located in Phoenix, Arizona.
Lakewood real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Lakewood neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.
Lakewood has a 11.0% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 65.6% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.
When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.
Most neighborhoods are composed of a mixture of ages of homes, but the Lakewood 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, 93.6% of the residential real estate here was built in this one time period.
Did you know that the Lakewood neighborhood has more Finnish and Scottish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.1% of this neighborhood's residents have Finnish ancestry and 4.9% have Scottish ancestry.
Lakewood is also pretty special linguistically. Significantly, 2.0% of its residents five years old and above primarily speak Russian at home. While this may seem like a small percentage, it is higher than 98.6% of the neighborhoods in America.
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 Lakewood neighborhood in Phoenix are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 89.0% of the neighborhoods in America. With 15.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 61.4% of U.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 Lakewood neighborhood, 52.1% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 21.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (13.6%), and 13.1% in manufacturing and laborer occupations.
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 Lakewood neighborhood is English, spoken by 83.7% of households. Other important languages spoken here include Spanish and Russian.
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 Lakewood neighborhood in Phoenix, AZ, residents most commonly identify their ethnicity or ancestry as German (17.2%). There are also a number of people of Irish ancestry (14.3%), and residents who report English roots (10.8%), and some of the residents are also of Mexican ancestry (9.1%), along with some Italian ancestry residents (5.2%), among others. In addition, 12.3% of the residents of this neighborhood were born in another country.
How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Lakewood neighborhood spend under 15 minutes commuting one-way to work (36.0% of working residents), one of the shortest commutes across America.
Here most residents (67.4%) drive alone in a private automobile to get to work. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.