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Real Estate Prices & Overview

Old Lane Park median real estate price is $364,171, which is more expensive than 83.2% of the neighborhoods in Ohio and 52.5% of the neighborhoods in the U.S.

The average rental price in Old Lane Park is currently $1,525, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 65.9% of the neighborhoods in Ohio.

Old Lane Park is a suburban neighborhood (based on population density) located in Dayton, Ohio.

Old Lane 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 owner occupied. Many of the residences in the Old Lane Park neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

In Old Lane Park, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Old Lane Park is very tight compared to the demand for property here.

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 get around.

Real Estate

Real estate in the Old Lane Park neighborhood is almost exclusively owner-occupied. NeighborhoodScout's analysis reveals that this neighborhood has a higher rate of owner-occupied housing than is found in 97.7% of U.S. neighborhoods. If you are seeking to rent, this neighborhood may not have many options, but high rates of ownership often indicate stability in a neighborhood. With a real estate vacancy rate of only 0.0%, the Old Lane Park neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.

In addition, most neighborhoods have a mixture of ages of homes in them, from new to old, but this neighborhood stands out due to its concentration of residential real estate built in one time frame: from 1940 through 1969, generally considered older, well-established homes. This was a busy time in America for home construction. After the end of World War II, as GIs came home, bought newly built homes on the edges of cities with the help of the GI Bill, and began their families. This housing era generally coincides with the 'Baby Boom' generation (1945 - 1964), and many baby boomers grew up in homes built in this era. But what is so interesting about the Old Lane Park neighborhood, is that an incredible 81.0% of the homes here were built in this era. So when you walk its streets or drive through, this neighborhood has a look and feel that harkens to that era in American life, a very important slice of Americana.

People

Of note is NeighborhoodScout's research finding that the Old Lane Park neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Old Lane Park community truly stands out from the rest in this regard.

In addition, a majority of the adults in the Old Lane 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 Ohio by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 96.5% of the neighborhoods in Ohio. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for active retirees, urban sophisticates and families with school-aged children.

Occupations

With 2.7% of employed workers living in the Old Lane Park neighborhood active in the military, this neighborhood has the distinction of having a higher proportion of people in the military than 97.3% of American neighborhoods. This is a major shaper of the neighborhood's culture and character.

Diversity

Did you know that the Old Lane Park neighborhood has more British and Welsh ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.4% of this neighborhood's residents have British ancestry and 2.5% have Welsh ancestry.

Old Lane Park is also pretty special linguistically. Significantly, 2.4% of its residents five years old and above primarily speak German/Yiddish at home. While this may seem like a small percentage, it is higher than 97.2% 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 Old Lane Park neighborhood in Dayton are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 75.1% 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 Old Lane Park neighborhood, 65.2% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 13.3% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (12.6%), and 8.9% 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 Old Lane Park neighborhood is English, spoken by 92.8% of households. Other important languages spoken here include German/Yiddish and Spanish.

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 Old Lane Park neighborhood in Dayton, OH, residents most commonly identify their ethnicity or ancestry as German (33.4%). There are also a number of people of Irish ancestry (16.0%), and residents who report English roots (14.6%), and some of the residents are also of Italian ancestry (5.0%), along with some British ancestry residents (4.4%), among others.

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 Old Lane Park neighborhood spend between 15 and 30 minutes commuting one-way to work (63.0% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (83.2%) 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.


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