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Real Estate Prices & Overview

Sky Lake median real estate price is $355,326, which is more expensive than 44.4% of the neighborhoods in Florida and 53.7% of the neighborhoods in the U.S.

The average rental price in Sky Lake is currently $2,448, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 67.6% of Florida neighborhoods.

Sky Lake is an urban neighborhood (based on population density) located in Orlando, Florida.

Sky Lake 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 Sky Lake neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

Sky Lake has a 12.3% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 68.8% 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.

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

Occupations

There are more people living in the Sky Lake neighborhood employed as sales and service workers (61.2%) than almost any neighborhood in the country. From fast-food service workers to major sales accounts, sales and service workers make up the largest proportion of our national employment picture. But despite that size and importance nationally, this neighborhood still stands out as unique due to the dominance of people living here who work in such occupations.

Diversity

Did you know that the Sky Lake neighborhood has more Puerto Rican and Cuban ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 28.7% of this neighborhood's residents have Puerto Rican ancestry and 13.1% have Cuban ancestry.

Sky Lake is also pretty special linguistically. Significantly, 63.6% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 96.4% of all U.S. neighborhoods.

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 Sky Lake neighborhood in Orlando are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 62.3% of U.S. neighborhoods. With 25.0% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 74.7% 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 Sky Lake neighborhood, 38.8% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 29.4% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (16.2%), and 15.6% in executive, management, and professional occupations.

Languages

The most common language spoken in the Sky Lake neighborhood is Spanish, spoken by 63.6% of households. Some people also speak English (34.3%).

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 Sky Lake neighborhood in Orlando, FL, residents most commonly identify their ethnicity or ancestry as Puerto Rican (28.7%). There are also a number of people of Cuban ancestry (13.1%), and residents who report Mexican roots (8.0%), and some of the residents are also of Dominican ancestry (6.7%), along with some Asian ancestry residents (3.9%), among others. In addition, 32.1% of the residents of this neighborhood were born in another country.

Getting to Work

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 Sky Lake neighborhood spend between 15 and 30 minutes commuting one-way to work (32.9% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (80.1%) 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 (6.9%) . 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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