Real Estate Prices and Overview
Lake Barcroft median real estate prices are $706,363, which is more expensive than 97.4% of the neighborhoods
in Virginia and 97.0% of the
neighborhoods in the U.S.
Average rental prices in Lake Barcroft are currently
$2,143, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 96.7%
of the neighborhoods in Virginia.
Lake Barcroft is a suburban neighborhood (based on population
density) located in Falls Church, Virginia.
Lake Barcroft real estate is primarily made up of large (four, five or more bedroom) to medium sized (three or four bedroom) single-family homes and townhomes.
Most of the residential real estate is owner occupied. Many of
the residences in the Lake Barcroft neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
In Lake Barcroft, 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 Lake Barcroft
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.
Notable & Unique: People
Wealth makes most things in life easier, and a few things harder.
If you are wealthy and enjoy keeping up with the Jones', this neighborhood
will interest you. In fact, according to NeighborhoodScout's research,
the Lake Barcroft neighborhood is wealthier than 99.7%
of the neighborhoods in the United States. Residents here are truly in
a unique situation even when compared to other Americans, based on the
shear amount of wealth concentrated here. Even in times of economic
downturn, residents of this neighborhood, as a group, suffered less
and recovered more quickly. This is indeed a stand-out characteristic
of this neighborhood.
As one would expect in a considerably wealthy neighborhood such as this,
Lake Barcroft also has one of the lowest ratings of child
poverty in the nation.
In addition, 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 Lake Barcroft neighborhood, where 44.6% have
earned an advanced degree. Compare that to the average neighborhood in
America, where just 8.4% 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 99.1%
of the neighborhoods in America.
Also, think about the people you know personally. How many of them would
purchase box seats to opening night at the symphony? How many of them
regularly attend gallery openings, or are the first to reserve tickets
to opening night at the ballet? If they're like most of us, they don't
do any of these things. But if you're among an exclusive crowd of wealthy
and refined patrons of the arts, then you'll feel right at home in
the Lake Barcroft neighborhood: a neighborhood in which more
"urban sophisticates" live than 98.5% of neighborhoods
across the U.S. Here, your neighbors are defined as having urbane
tastes in literature, music, live theatre and the arts. They are wealthy,
educated, travel in style, and live a big city lifestyle whether or
not they live in or near a big city.
In addition to being an excellent choice for urban sophisticates, this
neighborhood is also a very good choice for families with school-aged children , active retirees and highly educated executives.
Finally, with more than 2.2% of residents living with a same sex partner,
Lake Barcroft is truly a neighborhood that stands out from the rest in
this regard. In fact, exclusive analysis by NeighborhoodScout reveals that
this neighborhood has a greater concentration of same sex couples than
96.8% of U.S. neighborhoods.
Notable & Unique: Diversity
Did you know that the Lake Barcroft neighborhood has more
Scottish and Eastern European ancestry people living in it than nearly
any neighborhood in America? It's true! In fact, 6.0% of
this neighborhood's residents have Scottish ancestry and 1.7% have Eastern European ancestry.
Lake Barcroft is also pretty special linguistically. Significantly, 2.7% of its residents five years old and above primarily
speak German at home. While this may seem like a small percentage, it is higher
than 98.7% of the neighborhoods in America.
Notable & Unique: Occupations
The Lake Barcroft neighborhood has a higher proportion of
its residents employed as executives, managers and professionals than
99.4% of the neighborhoods in American. In fact, 75.8%
of the employed people here make a living as an executive, a manager, or
other professional. With such a high concentration, this truly shapes
the character of this neighborhood, and to a large degree defines what
this neighborhood is about.
Furthermore, the Lake Barcroft neighborhood has a greater proportion of
government workers living in it than 99.0% of the neighborhoods
in America, according to NeighborhoodScout's exclusive analysis. This is
a unique feature of this neighborhood, and one that shapes its character.
Notable & Unique: Real Estate
In addition, real estate in the Lake Barcroft 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 97.8% 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. This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the Lake Barcroft neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.
Furthermore, one way that the Lake Barcroft neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 99.5% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.
Also of note, this Lake Barcroft neighborhood has earned the amazing distinction of having one of the highest rates of detached, single-family homes of any neighborhood in the U.S. With 99.4% of the residential real estate here made up of free-standing single-family homes, there is a greater proportion of single-family homes here than in 98.7% of all neighborhoods in America.
The Neighbors: Income
There are two complimentary 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 Lake Barcroft neighborhood in Falls Church 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 99.7% 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 99.9%
of America's neighborhoods.
The Neighbors: Occupations
The old saying "you are what you eat" is true. But it is also true that you
are what you do for a living. The types of occupations your neighbors have
shape their character, and together as a group, their collective occupations
shape the culture of a place.
In the Lake Barcroft neighborhood, 75.8%
of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is
government jobs, whether they are in local, state, or federal positions, with 20.9% of the residents employed.
Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants
(11.1%), and 6.8% in clerical, assistant, and tech support occupations.
The Neighbors: 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 Lake Barcroft neighborhood in Falls Church, VA, residents
most commonly identify their ethnicity or ancestry as English
(10.7%). There are also a number of people of German ancestry (10.7%) , and residents who report Irish roots (7.3%) , and some of the residents are also of Scottish ancestry (6.0%) , along with some Asian ancestry residents (5.3%), among others. In addition, 19.0% of the residents of this neighborhood were born in another country.
The Neighbors: 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 Lake Barcroft
neighborhood is English, spoken by 81.9% of households. Other important languages spoken here include Spanish, French, German and Vietnamese.
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 Lake Barcroft neighborhood spend
between 15 and 30 minutes commuting one-way to work (38.9% of working
residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (76.9%) 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 (13.6%) . In a neighborhood like this, as in most of the nation, many residents find owning
a car useful for getting to work.