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Real Estate Prices & Overview

Lochn'ora / Colony Park median real estate price is $593,836, which is more expensive than 90.0% of the neighborhoods in North Carolina and 78.8% of the neighborhoods in the U.S.

The average rental price in Lochn'ora / Colony Park is currently $2,822, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 87.2% of the neighborhoods in North Carolina.

Lochn'ora / Colony Park is a suburban neighborhood (based on population density) located in Durham, North Carolina.

Lochn'ora / Colony Park real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Lochn'ora / Colony Park 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.

Home and apartment vacancy rates are 9.5% in Lochn'ora / Colony Park. NeighborhoodScout analysis shows that this rate is lower than 42.1% of the neighborhoods in the nation, approximately near the middle range for vacancies.

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 Durham, the Lochn'ora / Colony Park neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

If you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 5.0% of America's neighborhoods are wealthier than the Lochn'ora / Colony Park neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe. As one would expect in a considerably wealthy neighborhood such as this, Lochn'ora / Colony Park also has one of the lowest ratings of child poverty in the nation.

In addition, a majority of the adults in the Lochn'ora / Colony Park 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 North Carolina by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 99.1% of the neighborhoods in North Carolina. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for urban sophisticates and families with school-aged children.

Also, if knowledge is power, then imagine the cumulative power of one neighborhood where many of the adults have earned an advanced degree, such as a Masters, law degree, medical degree, or even a Ph.D. This is certainly the case in the Lochn'ora / Colony Park neighborhood, where 47.7% have earned an advanced degree. Compare that to the average neighborhood in America, where just 13.1% of adults have completed a post-graduate degree, and you can see why this neighborhood is a stand out. In fact, this neighborhood has a higher rate of adults with an advanced degree than 98.9% of the neighborhoods in America.

Finally, lochn'ora / Colony Park has the amazing distinction of housing more same sex couples living together than 97.5% 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.

Occupations

Executives, managers and professionals make up 76.4% of the workforce in the Lochn'ora / Colony Park neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 98.4% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.

Diversity

Did you know that the Lochn'ora / Colony Park neighborhood has more Lithuanian and Austrian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.7% of this neighborhood's residents have Lithuanian ancestry and 1.7% have Austrian ancestry.

Lochn'ora / Colony Park is also pretty special linguistically. Significantly, 1.2% of its residents five years old and above primarily speak Japanese at home. While this may seem like a small percentage, it is higher than 97.9% 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 Lochn'ora / Colony Park neighborhood in Durham 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 95.0% of the neighborhoods in America. 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.

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 Lochn'ora / Colony Park neighborhood, 76.4% 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 10.7% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (6.7%), and 6.2% in manufacturing and laborer occupations.

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 Lochn'ora / Colony Park neighborhood is English, spoken by 92.2% of households. Other important languages spoken here include Polish and Langs. of India.

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 Lochn'ora / Colony Park neighborhood in Durham, NC, residents most commonly identify their ethnicity or ancestry as English (13.9%). There are also a number of people of Irish ancestry (13.5%), and residents who report Asian roots (12.8%), and some of the residents are also of German ancestry (12.5%), along with some Swedish ancestry residents (5.5%), among others. In addition, 13.1% 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 Lochn'ora / Colony Park neighborhood spend between 15 and 30 minutes commuting one-way to work (55.4% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (71.6%) 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 (15.3%) . 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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