Fernwood / Lakeview median real estate price is $181,692, which is less expensive than 81.0% of Tennessee neighborhoods and 82.3% of all U.S. neighborhoods.
The average rental price in Fernwood / Lakeview is currently $1,408, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 75.8% of Tennessee neighborhoods.
Fernwood / Lakeview is a rural neighborhood (based on population density) located in Morristown, Tennessee.
Fernwood / Lakeview 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 Fernwood / Lakeview neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.
Fernwood / Lakeview has a 12.4% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 70.7% 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.
Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Morristown, the Fernwood / Lakeview neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Whether by choice, divorce, or unplanned pregnancy, single moms may have the toughest job in the book. NeighborhoodScout's exclusive analysis reveals that the Fernwood / Lakeview neighborhood has more single mother households than 95.9% of the neighborhoods in the U.S. Often high concentrations of single mother homes can be a strong indicator of family and social issues such as poverty, high rates of school dropouts, crime, and other societal problems.
NeighborhoodScout's exclusive research identifies the Fernwood / Lakeview neighborhood as having one of the highest concentrations of people employed in manufacturing or as laborers of any neighborhood in America. In fact, despite the loss of manufacturing jobs nationally, this neighborhood has 42.1% of its working residents employed in such fields, which is a higher proportion than 95.4% of American neighborhoods.
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 Fernwood / Lakeview neighborhood in Morristown are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 93.1% of U.S. neighborhoods. With 37.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 87.4% of U.S. neighborhoods.
A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.
In the Fernwood / Lakeview neighborhood, 42.1% of the working population is employed in manufacturing and laborer 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 24.4% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (18.4%), and 15.1% in executive, management, and professional occupations.
The most common language spoken in the Fernwood / Lakeview neighborhood is English, spoken by 91.6% of households. Some people also speak Spanish (8.0%).
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 Fernwood / Lakeview neighborhood in Morristown, TN, residents most commonly identify their ethnicity or ancestry as English (10.2%). There are also a number of people of Mexican ancestry (7.2%), and residents who report German roots (2.1%), and some of the residents are also of Puerto Rican ancestry (1.7%), along with some Irish ancestry residents (1.6%), among others.
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 Fernwood / Lakeview neighborhood spend under 15 minutes commuting one-way to work (46.8% of working residents), one of the shortest commutes across America.
Here most residents (82.4%) 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 (13.3%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.