Real Estate Prices and Overview
Lakewood median real estate prices are $153,851, which is more expensive than 88.3% of the neighborhoods
in Arkansas and 47.5% of the
neighborhoods in the U.S.
Average rental prices in Lakewood are currently
$733, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 92.4%
of the neighborhoods in Arkansas.
Lakewood is a suburban neighborhood (based on population
density) located in North Little Rock, Arkansas.
Lakewood real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two 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 Lakewood neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
Lakewood has a 11.8% vacancy rate, which is
well above average compared to other U.S. neighborhoods (higher than
62.4% of American neighborhoods). This could either
signal that there is weak demand for real estate in the neighborhood,
or that much of the housing stock is seasonally occupied,
which can occur in some markets dominated by colleges or vacation homes.
Either way, if you live here year round, you will find many of the homes
or apartments are empty for all or a portion of the year.
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 North Little Rock,
the Lakewood neighborhood, has some outstanding things about the way it
looks and its way of life that are worth highlighting.
Notable & Unique: Diversity
Did you know that the Lakewood neighborhood has more
Spanish and Scots-Irish ancestry people living in it than nearly
any neighborhood in America? It's true! In fact, 1.5% of
this neighborhood's residents have Spanish ancestry and 3.3% have Scots-Irish ancestry.
Notable & Unique: Modes of Transportation
While most Americans do drive to work alone each day, the
Lakewood neighborhood stands out by having 94.3% of commuters
doing so, which is a higher proportion of people driving alone to work
than NeighborhoodScout found in 97.1% of all American
Notable & Unique: People
The Lakewood neighborhood is considered a solid choice
for executive lifestyles. NeighborhoodScout's analysis ranks it as
better than 93.9% of Arkansas neighborhoods
for executive living, based on the wealthy, educated professionals,
executives, and managers who choose to reside here, the spacious homes
that are prominent features of the real estate in the neighborhood,
and the high real estate appreciation rates found here relative to
other neighborhoods in the state.
The Neighbors: Income
There are two complimentary 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 North Little Rock are upper-middle income, making it an above average income neighborhood.
NeighborhoodScout's exclusive analysis reveals that this neighborhood has
a higher income than 67.2% of the neighborhoods in America.
In addition, 4.9% 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 75.9%
of America's neighborhoods.
The Neighbors: Occupations
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 shear diversity of neighborhoods, allowing you to find the type that fits
your lifestyle and aspirations.
In the Lakewood neighborhood, 48.0%
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 24.0% of the residents employed.
Other residents here are employed in manufacturing and laborer occupations
(15.4%), and 12.6% in clerical, assistant, and tech support occupations.
The Neighbors: 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 Lakewood neighborhood in North Little Rock, AR, residents
most commonly identify their ethnicity or ancestry as English
(9.6%). There are also a number of people of Irish ancestry (9.4%) , and residents who report German roots (6.9%) , and some of the residents are also of Scots-Irish ancestry (3.3%) , along with some Scottish ancestry residents (2.8%), among others.
The Neighbors: Languages
The most common language spoken in the Lakewood
neighborhood is English, spoken by 98.0% of households.
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 Lakewood neighborhood spend
between 15 and 30 minutes commuting one-way to work (47.6% of working
residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (94.3%) 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.