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Real Estate Prices & Overview

Esperance median real estate price is $839,590, which is more expensive than 76.1% of the neighborhoods in Washington and 87.3% of the neighborhoods in the U.S.

The average rental price in Esperance is currently $3,253, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 78.5% of the neighborhoods in Washington.

Esperance is an urban neighborhood (based on population density) located in Edmonds, Washington.

Esperance 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 Esperance neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

In Esperance, the current vacancy rate is 1.4%, which is a lower rate of vacancies than 89.7% of all neighborhoods in the U.S. This means that the housing supply in Esperance is very tight compared to the demand for property here.

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 Edmonds, the Esperance neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

In a nation where 1 out of every 4 children lives in poverty, the Esperance neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

In addition, the Esperance neighborhood stands out within Washington for its college student friendly environment. NeighborhoodScout's analysis reveals that this neighborhood is home to a number of college students, is relatively walkable, and above average in safety. In combination, this makes it stand out for a good place for college students to consider. Because a number of college students live here, this neighborhood may be close to a college campus and offer certain amenities nearby geared towards the student body. While it's not an environment for everyone, ambitious scholars can enjoy seasonal excitement between semesters and school breaks, and parents can rest easy knowing that the area has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 9.5% of college-friendly places to live in WA.

Diversity

Did you know that the Esperance neighborhood has more Yugoslav and Romanian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.0% of this neighborhood's residents have Yugoslav ancestry and 1.3% have Romanian ancestry.

Esperance is also pretty special linguistically. Significantly, 4.8% of its residents five years old and above primarily speak Korean at home. While this may seem like a small percentage, it is higher than 98.8% of the neighborhoods in America.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Esperance neighborhood in Edmonds 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 87.5% 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.

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 Esperance neighborhood, 47.3% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 19.8% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (18.5%), and 14.4% 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 Esperance neighborhood is English, spoken by 78.0% of households. Other important languages spoken here include Spanish, Korean, Chinese and African languages.

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 Esperance neighborhood in Edmonds, WA, residents most commonly identify their ethnicity or ancestry as German (17.0%). There are also a number of people of English ancestry (13.3%), and residents who report Asian roots (12.4%), and some of the residents are also of Irish ancestry (9.4%), along with some Italian ancestry residents (8.5%), among others. In addition, 17.9% 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 Esperance neighborhood spend between 30 and 45 minutes commuting one-way to work (28.2% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (60.4%) 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 (9.9%) . 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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