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Real Estate Prices & Overview

Ocotillo Lakes / Balboa Way median real estate price is $821,608, which is more expensive than 94.1% of the neighborhoods in Arizona and 88.8% of the neighborhoods in the U.S.

The average rental price in Ocotillo Lakes / Balboa Way is currently $3,260, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 70.2% of the neighborhoods in Arizona.

Ocotillo Lakes / Balboa Way is a suburban neighborhood (based on population density) located in Chandler, Arizona.

Ocotillo Lakes / Balboa Way real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and small apartment buildings. Most of the residential real estate is owner occupied. Many of the residences in the Ocotillo Lakes / Balboa Way neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

Real estate vacancies in Ocotillo Lakes / Balboa Way are 4.4%, which is lower than one will find in 72.1% of American neighborhoods. Demand for real estate in Ocotillo Lakes / Balboa Way 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

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.

Modes of Transportation

A unique way of commuting is simply not to. And in the Ocotillo Lakes / Balboa Way neighborhood, analysis shows that 29.1% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 98.4% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.

People

A majority of the adults in the Ocotillo Lakes / Balboa Way 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 Arizona by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 98.0% of the neighborhoods in Arizona. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for urban sophisticates.

In addition, priests and therapists would like to think they know the secrets to a truly successful marriage, but according to NeighborhoodScout's research, the folks of the Ocotillo Lakes / Balboa Way neighborhood may actually hold the key. 68.0% of its residents are married, which is a higher percentage than is found in 96.4% of the neighborhoods in America.

Occupations

Executives, managers and professionals make up 68.6% of the workforce in the Ocotillo Lakes / Balboa Way neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 95.1% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.

Diversity

Did you know that the Ocotillo Lakes / Balboa Way neighborhood has more Croatian and Slovak ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 0.8% of this neighborhood's residents have Croatian ancestry and 1.0% have Slovak ancestry.

Ocotillo Lakes / Balboa Way is also pretty special linguistically. Significantly, 3.8% 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 96.0% 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 Ocotillo Lakes / Balboa Way neighborhood in Chandler 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 91.9% of the neighborhoods in America. In addition, 8.5% 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 55.1% 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 Ocotillo Lakes / Balboa Way neighborhood, 68.6% 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 18.5% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (8.2%), and 4.7% 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 Ocotillo Lakes / Balboa Way neighborhood is English, spoken by 75.1% of households. Other important languages spoken here include Spanish, Chinese, Langs. of India and Polish.

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Ocotillo Lakes / Balboa Way neighborhood in Chandler, AZ, residents most commonly identify their ethnicity or ancestry as Asian (22.5%). There are also a number of people of German ancestry (17.1%), and residents who report Mexican roots (9.8%), and some of the residents are also of English ancestry (8.3%), along with some Irish ancestry residents (6.3%), among others. In addition, 20.0% of the residents of this neighborhood were born in another country.

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 Ocotillo Lakes / Balboa Way neighborhood spend between 15 and 30 minutes commuting one-way to work (38.7% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (63.3%) 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 (6.1%) . 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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