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Real Estate Prices & Overview

Ghost Town median real estate price is $136,317, which is less expensive than 85.6% of Texas neighborhoods and 89.9% of all U.S. neighborhoods.

The average rental price in Ghost Town is currently $1,328, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 84.8% of Texas neighborhoods.

Ghost Town is an urban neighborhood (based on population density) located in Laredo, Texas.

Ghost Town real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Ghost Town neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Ghost Town has a 12.9% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 72.4% 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

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.

Diversity

Did you know that the Ghost Town neighborhood has more Mexican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 96.0% of this neighborhood's residents have Mexican ancestry.

Ghost Town is also pretty special linguistically. Significantly, 87.3% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 99.3% of all U.S. neighborhoods.

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 Ghost Town neighborhood in Laredo are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 91.5% of U.S. neighborhoods. With 37.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 87.2% 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 Ghost Town neighborhood, 32.0% of the working population is employed in manufacturing and laborer occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 23.9% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (23.3%), and 20.9% in executive, management, and professional occupations.

Languages

The most common language spoken in the Ghost Town neighborhood is Spanish, spoken by 87.3% of households. Some people also speak English (12.7%).

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 Ghost Town neighborhood in Laredo, TX, residents most commonly identify their ethnicity or ancestry as Mexican (96.0%). There are also a number of people of South American ancestry (1.6%). In addition, 37.4% of the residents of this neighborhood were born in another country.

Getting to Work

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 Ghost Town neighborhood spend between 15 and 30 minutes commuting one-way to work (36.8% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (86.0%) 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.


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