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Real Estate Prices & Overview

Colony Park median real estate price is $376,402, which is more expensive than 73.2% of the neighborhoods in Pennsylvania and 54.9% of the neighborhoods in the U.S.

The average rental price in Colony Park is currently $2,465, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 84.1% of the neighborhoods in Pennsylvania.

Colony Park is a suburban neighborhood (based on population density) located in Wyomissing, Pennsylvania.

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 apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Colony Park neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

In Colony Park, the current vacancy rate is 0.7%, which is a lower rate of vacancies than 92.2% of all neighborhoods in the U.S. This means that the housing supply in Colony Park is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

People

A majority of the adults in the 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 Pennsylvania by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 95.2% of the neighborhoods in Pennsylvania. 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.

Diversity

Did you know that the Colony Park neighborhood has more German and Dominican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 37.7% of this neighborhood's residents have German ancestry and 4.7% have Dominican ancestry.

Colony Park is also pretty special linguistically. Significantly, 3.3% of its residents five years old and above primarily speak Langs. of India at home. While this may seem like a small percentage, it is higher than 95.1% 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 Colony Park neighborhood in Wyomissing are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 81.7% of the neighborhoods in America. In addition, 3.5% 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 69.6% 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 Colony Park neighborhood, 55.0% 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 21.3% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (14.3%), and 9.4% in clerical, assistant, and tech support 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 Colony Park neighborhood is English, spoken by 88.4% of households. Other important languages spoken here include Spanish and Langs. of India.

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 Colony Park neighborhood in Wyomissing, PA, residents most commonly identify their ethnicity or ancestry as German (37.7%). There are also a number of people of Irish ancestry (15.2%), and residents who report Italian roots (14.1%), and some of the residents are also of English ancestry (6.3%), along with some Polish ancestry residents (4.9%), 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 Colony Park neighborhood spend under 15 minutes commuting one-way to work (45.4% of working residents), one of the shortest commutes across America.

Here most residents (77.6%) 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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