Ocotillo Lakes / Balboa Way median real estate price is $811,901, which is more expensive than 94.1% of the neighborhoods in Arizona and 89.0% of the neighborhoods in the U.S.
The average rental price in Ocotillo Lakes / Balboa Way is currently $3,178, 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.
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.
In the Ocotillo Lakes / Balboa Way neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 29.1% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 98.4% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.
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.
The Ocotillo Lakes / Balboa Way neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 95.1% of the neighborhoods in America. In fact, 68.6% 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.
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.
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 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.
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 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.
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.
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 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.
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.