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Real Estate Prices & Overview

Bonneville median real estate price is $462,294, which is more expensive than 43.9% of the neighborhoods in Utah and 64.0% of the neighborhoods in the U.S.

The average rental price in Bonneville is currently $1,939, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 60.2% of the neighborhoods in Utah.

Bonneville is an urban neighborhood (based on population density) located in Orem, Utah.

Bonneville 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 occupied by a mixture of owners and renters. Many of the residences in the Bonneville 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.

Real estate vacancies in Bonneville are 5.0%, which is lower than one will find in 66.4% of American neighborhoods. Demand for real estate in Bonneville is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

Notable & Unique Neighborhood Characteristics

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 Orem, the Bonneville neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

An extraordinary 12.6% of the residents of the Bonneville neighborhood are currently enrolled in college. This is such a large part of life in this neighborhood that the neighborhood changes a great deal with the change of semesters and is far quieter during the summer when many students are away.

In addition, bonneville is ranked among the top 8.7% of neighborhoods for first-time home buyers to consider in the state of Utah according to NeighborhoodScout's exclusive analysis. Homes here are priced below median housing values in the state, yet maintain moderate appreciation rates compared to other communities. Buying into the Bonneville neighborhood is not only an accessible option but an investment opportunity for many first-time home buyers.

Diversity

Did you know that the Bonneville neighborhood has more British and Swiss ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.3% of this neighborhood's residents have British ancestry and 1.8% have Swiss ancestry.

Bonneville is also pretty special linguistically. Significantly, 1.6% of its residents five years old and above primarily speak Portuguese at home. While this may seem like a small percentage, it is higher than 96.9% of the neighborhoods in America.

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 Bonneville neighborhood in Orem are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 61.3% of the neighborhoods in America. With 13.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 57.2% 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 Bonneville neighborhood, 31.2% 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 29.0% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (20.5%), and 19.2% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Bonneville neighborhood is English, spoken by 83.8% of households. Some people also speak Spanish (12.7%).

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Bonneville neighborhood in Orem, UT, residents most commonly identify their ethnicity or ancestry as English (21.6%). There are also a number of people of German ancestry (11.2%), and residents who report South American roots (8.3%), and some of the residents are also of Irish ancestry (5.8%), along with some Mexican ancestry residents (4.5%), among others. In addition, 10.3% of the residents of this neighborhood were born in another country.

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 Bonneville neighborhood spend under 15 minutes commuting one-way to work (39.1% of working residents), one of the shortest commutes across America.

Here most residents (70.0%) 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 (5.4%) . 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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