Lakewood median real estate price is $1,310,178, which is more expensive than 98.7% of the neighborhoods in Texas and 94.2% of the neighborhoods in the U.S.
The average rental price in Lakewood is currently $4,351, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 99.1% of the neighborhoods in Texas.
Lakewood is a suburban neighborhood (based on population density) located in Dallas, Texas.
Lakewood real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes. Most of the residential real estate is owner occupied. Many of the residences in the Lakewood neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 2000 and the present.
In Lakewood, the current vacancy rate is 1.7%, which is a lower rate of vacancies than 87.4% of all neighborhoods in the U.S. This means that the housing supply in Lakewood is very tight compared to the demand for property here.
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.
Wealth makes most things in life easier, and a few things harder. If you are wealthy and enjoy keeping up with the Jones', this neighborhood will interest you. In fact, according to NeighborhoodScout's research, the Lakewood neighborhood is wealthier than 99.4% of the neighborhoods in the United States. Residents here are truly in a unique situation even when compared to other Americans, based on the sheer amount of wealth concentrated here. Even in times of economic downturn, residents of this neighborhood, as a group, suffered less and recovered more quickly. This is indeed a stand-out characteristic of this neighborhood. As one would expect in a considerably wealthy neighborhood such as this, Lakewood also has one of the lowest ratings of child poverty in the nation.
In addition, think about the people you know personally. How many of them would purchase box seats to opening night at the symphony? How many of them regularly attend gallery openings, or are the first to reserve tickets to opening night at the ballet? If they're like most of us, they don't do any of these things. But if you're among an exclusive crowd of wealthy and refined patrons of the arts, then you'll feel right at home in the Lakewood neighborhood: a neighborhood in which more "urban sophisticates" live than 99.7% of neighborhoods across the U.S. Here, your neighbors are defined as having urbane tastes in literature, music, live theatre and the arts. They are wealthy, educated, travel in style, and live a big city lifestyle whether or not they live in or near a big city. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for families with school-aged children and highly educated executives.
Also, the rate of college educated adults in the Lakewood neighborhood is a unique characteristic of the neighborhood. 86.9% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 35.0% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 99.3% of all U.S. neighborhoods.
Finally, astoundingly, NeighborhoodScout's research reveals that this single neighborhood has a higher concentration of married couples living here than 99.2% of all U.S. neighborhoods. Whether they have school-aged children or not, married couples are the rule in the Lakewood neighborhood. If you are a married couple, you may find many people here with a similar lifestyle, and perhaps common interests. But if you are single, you might not find many other singles here.
Executives, managers and professionals make up 81.4% of the workforce in the Lakewood neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 99.2% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
In the Lakewood neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 39.6% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 98.9% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.
Some neighborhoods are made up of apartments. Some consist of row houses, and most - by far - consist of a mixture of housing types. But the Lakewood neighborhood stands out due to the total dominance of detached, single-family homes here. There are nearly no other types of residential real estate in the neighborhood. In fact, this neighborhood has a higher proportion of single-family homes in its real estate stock than 98.8% of all American neighborhoods.
In addition, owner-occupied real estate dominates the Lakewood neighborhood. In fact, according to NeighborhoodScout research, the percentage of residential real estate occupied by its owner is higher here than in 95.9% of neighborhoods in America.
Did you know that the Lakewood neighborhood has more Austrian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.1% of this neighborhood's residents have Austrian ancestry.
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 neighborhood in Dallas 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 99.4% of the neighborhoods in America. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America'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, 81.4% 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 14.0% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (3.5%).
Languages
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 93.3% of households. Other important languages spoken here include Spanish and Langs. of India.
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 neighborhood in Dallas, TX, residents most commonly identify their ethnicity or ancestry as German (18.4%). There are also a number of people of English ancestry (15.9%), and residents who report Irish roots (11.1%), and some of the residents are also of Italian ancestry (5.0%), along with some Asian ancestry residents (3.7%), 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 Lakewood neighborhood spend between 15 and 30 minutes commuting one-way to work (59.0% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (55.6%) 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.
