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Real Estate Prices & Overview

Forest Lake median real estate price is $288,446, which is more expensive than 64.0% of the neighborhoods in Alabama and 38.3% of the neighborhoods in the U.S.

The average rental price in Forest Lake is currently $1,145, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 83.0% of Alabama neighborhoods.

Forest Lake is a suburban neighborhood (based on population density) located in Tuscaloosa, Alabama.

Forest Lake real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Forest Lake neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

Vacant apartments or homes are a major fact of life in Forest Lake. The current real estate vacancy rate here is 49.6%. This is higher than the rate of vacancies in 98.7% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (35.9%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually 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.

People

Of note is NeighborhoodScout's research finding that the Forest Lake neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Forest Lake community truly stands out from the rest in this regard.

In addition, one of the most interesting things about the Forest Lake neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 69.9% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 99.7% of the neighborhoods in America.

Also, the Forest Lake neighborhood stands out within Alabama for its college student friendly environment. NeighborhoodScout's analysis reveals that this neighborhood is home to a number of college students, is relatively walkable, and above average in safety. In combination, this makes it stand out for a good place for college students to consider. Because a number of college students live here, this neighborhood may be close to a college campus and offer certain amenities nearby geared towards the student body. While it's not an environment for everyone, ambitious scholars can enjoy seasonal excitement between semesters and school breaks, and parents can rest easy knowing that the area has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 7.9% of college-friendly places to live in AL.

Real Estate

Vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 49.6% of the residential real estate vacant, the Forest Lake neighborhood claims the distinction of having a higher vacancy rate than 98.7% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.

In addition, the real estate in the Forest Lake neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 70.3% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 95.1% of American neighborhoods.

Occupations

It used to be that most Americans lived on the farm, or otherwise made their living from the land, the forests, or the sea. With global trade and an economy increasingly based on providing services to one another, fewer people farm, fish or harvest timber now than at any time in American history. But according to NeighborhoodScout's leading analysis, the Forest Lake neighborhood stands apart from most American neighborhood due to the proportion of its residents still working in these fields. With 7.2% of the workforce so employed, this neighborhood has a greater concentration of such workers than 98.2% of U.S. neighborhoods.

Furthermore, neighborhoodScout's exclusive research identifies the Forest Lake 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 41.6% of its working residents employed in such fields, which is a higher proportion than 95.0% of American neighborhoods.

Diversity

Did you know that the Forest Lake neighborhood has more English and Austrian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 41.4% of this neighborhood's residents have English ancestry and 1.9% have Austrian ancestry.

Migration / Stability

The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. In the Forest Lake neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 95.0% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Forest Lake neighborhood in Tuscaloosa are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 85.9% of U.S. neighborhoods. 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.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Forest Lake neighborhood, 41.6% of the working population is employed in manufacturing and laborer occupations. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 37.7% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (12.7%), and 7.2% in farming, forestry, or commercial fishing.

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 Forest Lake neighborhood is English, spoken by 87.3% of households. Other important languages spoken here include Spanish, Italian and Polish.

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the Forest Lake neighborhood in Tuscaloosa, AL, residents most commonly identify their ethnicity or ancestry as English (41.4%). There are also a number of people of German ancestry (7.8%), and residents who report Irish roots (6.8%), and some of the residents are also of Sub-Saharan African ancestry (5.6%), along with some Scottish ancestry residents (4.6%), 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 Forest Lake neighborhood spend under 15 minutes commuting one-way to work (50.9% of working residents), one of the shortest commutes across America.

Here most residents (87.1%) 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 (7.5%) . 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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