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Real Estate Prices & Overview

Lakewood Park / Gnat Hill median real estate price is $328,416, which is more expensive than 54.6% of the neighborhoods in Tennessee and 44.0% of the neighborhoods in the U.S.

The average rental price in Lakewood Park / Gnat Hill is currently $1,610, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 59.7% of Tennessee neighborhoods.

Lakewood Park / Gnat Hill is a rural neighborhood (based on population density) located in Manchester, Tennessee.

Lakewood Park / Gnat Hill real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and mobile homes. Most of the residential real estate is owner occupied. Many of the residences in the Lakewood Park / Gnat Hill neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

Lakewood Park / Gnat Hill has a 13.9% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 75.3% 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.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Lakewood Park / Gnat Hill neighborhood in Manchester are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 82.9% of U.S. neighborhoods. With 23.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 73.3% 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 Park / Gnat Hill neighborhood, 45.0% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 22.9% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (16.8%), and 15.3% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Lakewood Park / Gnat Hill neighborhood is English, spoken by 98.1% of households. Some people also speak Italian (3.8%).

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Lakewood Park / Gnat Hill neighborhood in Manchester, TN, residents most commonly identify their ethnicity or ancestry as Irish (10.3%). There are also a number of people of German ancestry (9.0%), and residents who report English roots (8.5%), and some of the residents are also of Mexican ancestry (2.1%), along with some French ancestry residents (2.0%), among others.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Lakewood Park / Gnat Hill neighborhood spend between 15 and 30 minutes commuting one-way to work (37.2% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (74.8%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (5.5%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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