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Real Estate Prices & Overview

Palm Valley median real estate price is $507,528, which is more expensive than 62.4% of the neighborhoods in Arizona and 67.0% of the neighborhoods in the U.S.

The average rental price in Palm Valley is currently $3,540, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 91.3% of the neighborhoods in Arizona.

Palm Valley is a suburban neighborhood (based on population density) located in Goodyear, Arizona.

Palm Valley 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 Palm Valley neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

Real estate vacancies in Palm Valley are 5.3%, which is lower than one will find in 64.2% of American neighborhoods. Demand for real estate in Palm Valley 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

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

Real Estate

If you like the look and ambience of new homes and newly built neighborhoods, you will love the Palm Valley neighborhood. A whopping 98.1% of the homes and other residential real estate here were built after 1999, which is a higher proportion of new homes then you will find in 99.8% of the neighborhoods in the U.S. Everything here just feels new. In fact, the concentration of newer homes here is so great that they completely dominate the landscape. In most neighborhoods, there is a mixture of ages of residential real estate, but here it is almost completely built during one time frame: 2000 through today.

Diversity

Did you know that the Palm Valley neighborhood has more Native American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.6% of this neighborhood's residents have Native American ancestry.

Palm Valley is also pretty special linguistically. Significantly, 3.2% of its residents five years old and above primarily speak Vietnamese at home. While this may seem like a small percentage, it is higher than 96.8% 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 Palm Valley neighborhood in Goodyear 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 90.2% of the neighborhoods in America. With 11.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 51.8% of U.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 Palm Valley neighborhood, 43.8% 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 34.4% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (15.4%), and 6.4% 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 Palm Valley neighborhood is English, spoken by 80.4% of households. Other important languages spoken here include Spanish, Vietnamese, African languages and Tagalog (the first language of the Philippine region).

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 Palm Valley neighborhood in Goodyear, AZ, residents most commonly identify their ethnicity or ancestry as Mexican (15.9%). There are also a number of people of German ancestry (9.8%), and residents who report English roots (9.7%), and some of the residents are also of Asian ancestry (9.6%), along with some Irish ancestry residents (9.3%), among others. In addition, 11.3% 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 Palm Valley neighborhood spend under 15 minutes commuting one-way to work (37.5% of working residents), one of the shortest commutes across America.

Here most residents (69.0%) 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 (7.7%) . 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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