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Real Estate Prices & Overview

The Lakes median real estate price is $610,569, which is more expensive than 76.0% of the neighborhoods in Arizona and 75.4% of the neighborhoods in the U.S.

The average rental price in The Lakes is currently $2,534, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 60.3% of the neighborhoods in Arizona.

The Lakes is an urban neighborhood (based on population density) located in Tempe, Arizona.

The Lakes real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the The Lakes neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.

Home and apartment vacancy rates are 9.5% in The Lakes. NeighborhoodScout analysis shows that this rate is lower than 40.7% of the neighborhoods in the nation, approximately near the middle range for vacancies.

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.

Real Estate

Most neighborhoods are composed of a mixture of ages of homes, but the The Lakes stands out as rather unique in having nearly all of its residential real estate built in one time period, namely between 1970 and 1999, generally considered to be established, but not old housing. What you'll sense when you look around or drive the streets of this neighborhood is that many of the residences look the same because of this similarity of age. In fact, 93.7% of the residential real estate here was built in this one time period.

People

If you are an executive or professional seeking a neighborhood affording an executive lifestyle, or just wanting to find where other executives live in the area, the The Lakes neighborhood should be on your list. It has an enviable mix of spacious homes, relatively stable real estate values, and residents that include a number of wealthy executives, managers, and professionals. NeighborhoodScout's exclusive analysis places it as one of the top 15.0% executive lifestyle neighborhoods in the state of Arizona.

Diversity

Did you know that the The Lakes neighborhood has more Romanian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.5% of this neighborhood's residents have Romanian ancestry.

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 The Lakes neighborhood in Tempe are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 64.0% of the neighborhoods in America. With 25.7% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 76.4% 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 The Lakes neighborhood, 57.3% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 20.5% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (12.4%), and 9.9% in manufacturing and laborer occupations.

Languages

The most common language spoken in the The Lakes neighborhood is English, spoken by 87.3% of households. Some people also speak Spanish (5.3%).

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 The Lakes neighborhood in Tempe, AZ, residents most commonly identify their ethnicity or ancestry as Mexican (14.5%). There are also a number of people of German ancestry (13.1%), and residents who report Irish roots (11.3%), and some of the residents are also of English ancestry (9.9%), along with some Asian ancestry residents (6.3%), among others.

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 The Lakes neighborhood spend between 15 and 30 minutes commuting one-way to work (51.4% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (73.1%) drive alone in a private automobile to get to work. 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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