Real Estate Prices and Overview
Silver Lake median real estate prices are $146,504, which is more expensive than 61.1% of the neighborhoods
in North Carolina and 44.3% of the
neighborhoods in the U.S.
Average rental prices in Silver Lake are currently
$894, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 73.5%
of the neighborhoods in North Carolina.
Silver Lake is a suburban neighborhood (based on population
density) located in Wilmington, North Carolina.
Silver Lake real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and mobile homes.
Most of the residential real estate is owner occupied. Many of
the residences in the Silver Lake 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.
Real estate vacancies in Silver Lake are 5.5%,
which is lower than one will find in 73.1% of American
neighborhoods. Demand for real estate in Silver Lake
is above average for the U.S., and may signal some demand for either
price increases or new construction of residential product for this neighborhood.
Notable & Unique Neighborhood Characteristics
The way a neighborhood looks and feels when you walk or drive around it, from
its setting, its buildings, and its flavor, can make all the difference. This
neighborhood has some really cool things about the way it looks and feels as
revealed by NeighborhoodScout's exclusive research. This might include anything
from the housing stock to the types of households living here to how people
Notable & Unique: Diversity
Did you know that the Silver Lake neighborhood has more
Czechoslovakian and Scots-Irish ancestry people living in it than nearly
any neighborhood in America? It's true! In fact, 0.8% of
this neighborhood's residents have Czechoslovakian ancestry and 3.2% have Scots-Irish ancestry.
The Neighbors: Income
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 Silver Lake neighborhood in Wilmington are middle-income, making it a moderate income neighborhood.
NeighborhoodScout's exclusive analysis reveals that this neighborhood has
a higher income than 59.5% of the neighborhoods in America.
With 22.1% of the children here below the federal poverty
line, this neighborhood has a higher rate of childhood poverty than 62.0%
of U.S. neighborhoods.
The Neighbors: Occupations
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 Silver Lake neighborhood, 33.9%
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 31.0% of the residents employed.
Other residents here are employed in manufacturing and laborer occupations
(19.3%), and 15.8% in clerical, assistant, and tech support occupations.
The Neighbors: Ethnicity / Ancestry
Culture is shared learned behavior. We learn it from our parents, their parents,
our houses of worship, and much of our culture – our learned behavior - comes
from our ancestors. That is why ancestry and ethnicity can be so interesting
and important to understand: places with concentrations of people of one or
more ancestries often express those shared learned behaviors and this gives
each neighborhood its own culture. Even different neighborhoods in the same
city can have drastically different cultures.
In the Silver Lake neighborhood in Wilmington, NC, residents
most commonly identify their ethnicity or ancestry as Irish
(11.2%). There are also a number of people of German ancestry (10.2%) , and residents who report English roots (9.5%) , and some of the residents are also of Mexican ancestry (7.8%) , along with some Italian ancestry residents (4.7%), among others.
The Neighbors: Languages
The most common language spoken in the Silver Lake
neighborhood is English, spoken by 90.0% of households. Some people also speak Spanish (8.8%).
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 Silver Lake neighborhood spend
between 15 and 30 minutes commuting one-way to work (51.7% of working
residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (84.7%) 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 (11.3%) . In a neighborhood like this, as in most of the nation, many residents find owning
a car useful for getting to work.