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Real Estate Prices & Overview

Cumberland Hill median real estate price is $442,655, which is more expensive than 91.8% of the neighborhoods in Kentucky and 63.0% of the neighborhoods in the U.S.

The average rental price in Cumberland Hill is currently $2,677, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 98.5% of the neighborhoods in Kentucky.

Cumberland Hill is a suburban neighborhood (based on population density) located in Lexington, Kentucky.

Cumberland Hill 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 owner occupied. Many of the residences in the Cumberland Hill neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

In Cumberland Hill, the current vacancy rate is 1.8%, which is a lower rate of vacancies than 87.7% of all neighborhoods in the U.S. This means that the housing supply in Cumberland Hill is very tight compared to the demand for property here.

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

People

A majority of the adults in the Cumberland Hill neighborhood are wealthy and educated executives. They own stately homes that tend to maintain high real estate appreciation rates. Their upper-level careers keep them busy, but allow them to live comfortably. If you're an executive and want to keep similar company, consider settling in this neighborhood, rated as an executive lifestyle "best choice" neighborhood for Kentucky by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 99.2% of the neighborhoods in Kentucky. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for urban sophisticates.

In addition, cumberland Hill has the amazing distinction of housing more same sex couples living together than 98.0% of neighborhoods in the U.S. If you are seeking such a neighborhood, NeighborhoodScout's analysis shows that this is one place that you should consider.

Diversity

Did you know that the Cumberland Hill neighborhood has more Scottish and South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.9% of this neighborhood's residents have Scottish ancestry and 6.0% have South American ancestry.

Cumberland Hill is also pretty special linguistically. Significantly, 0.7% of its residents five years old and above primarily speak Mon-Khmer, which is the dominant language of Cambodia, at home. While this may seem like a small percentage, it is higher than 98.4% of the neighborhoods in America.

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 Cumberland Hill neighborhood in Lexington 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 88.5% of the neighborhoods in America. With 18.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 66.5% 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 Cumberland Hill neighborhood, 62.2% 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 19.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (10.5%), and 7.4% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Cumberland Hill neighborhood is English, spoken by 86.2% of households. Some people also speak Spanish (4.9%).

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 Cumberland Hill neighborhood in Lexington, KY, residents most commonly identify their ethnicity or ancestry as German (21.3%). There are also a number of people of English ancestry (12.6%), and residents who report Irish roots (6.8%), and some of the residents are also of South American ancestry (6.0%), along with some Scottish ancestry residents (5.9%), among others. In addition, 13.3% 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 Cumberland Hill neighborhood spend between 15 and 30 minutes commuting one-way to work (46.5% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (75.8%) 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 (6.8%) . 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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