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Real Estate Prices & Overview

Rancho Penasquitos Southwest median real estate price is $1,331,380, which is more expensive than 82.8% of the neighborhoods in California and 96.4% of the neighborhoods in the U.S.

The average rental price in Rancho Penasquitos Southwest is currently $6,246, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 99.6% of the neighborhoods in California.

Rancho Penasquitos Southwest is a suburban neighborhood (based on population density) located in San Diego, California.

Rancho Penasquitos Southwest real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes. Most of the residential real estate is owner occupied. Many of the residences in the Rancho Penasquitos Southwest neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

In Rancho Penasquitos Southwest, the current vacancy rate is 1.4%, which is a lower rate of vacancies than 90.0% of all neighborhoods in the U.S. This means that the housing supply in Rancho Penasquitos Southwest is very tight compared to the demand for property here.

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.

People

Wealth makes most things in life easier, and a few things harder. If you are wealthy and enjoy keeping up with the Jones', this neighborhood will interest you. In fact, according to NeighborhoodScout's research, the Rancho Penasquitos Southwest neighborhood is wealthier than 98.4% of the neighborhoods in the United States. Residents here are truly in a unique situation even when compared to other Americans, based on the sheer amount of wealth concentrated here. Even in times of economic downturn, residents of this neighborhood, as a group, suffered less and recovered more quickly. This is indeed a stand-out characteristic of this neighborhood. As one would expect in a considerably wealthy neighborhood such as this, Rancho Penasquitos Southwest also has one of the lowest ratings of child poverty in the nation.

In addition, according to NeighborhoodScout's exclusive analysis, Rancho Penasquitos Southwest is among the best neighborhoods for families in California. In fact, this neighborhood is more family-friendly than 99.9% of neighborhoods in the entire state of California. Its combination of top public schools, low crime rates, and owner-occupied single family homes gives this area the look and feel of a "Leave It to Beaver" episode. Many other families also live here, making it easy to socialize and develop a strong sense of community. In addition, the high number of college-educated parents influences the academic success of the local schools. Overall, you will find all of the amenities a family needs to thrive in the Rancho Penasquitos Southwest neighborhood. In addition to being an excellent choice for families with school-aged children, this neighborhood is also a very good choice for highly educated executives, urban sophisticates and active retirees.

Real Estate

Most neighborhoods are composed of a mixture of ages of homes, but the Rancho Penasquitos Southwest 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, 98.6% of the residential real estate here was built in this one time period.

In addition, one way that the Rancho Penasquitos Southwest neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 99.4% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.

Furthermore, the Rancho Penasquitos Southwest neighborhood has earned the amazing distinction of having one of the highest rates of detached, single-family homes of any neighborhood in the U.S. With 100.0% of the residential real estate here made up of free-standing single-family homes, there is a greater proportion of single-family homes here than in 98.7% of all neighborhoods in America.

Also of note, owner-occupied real estate dominates the Rancho Penasquitos Southwest neighborhood. In fact, according to NeighborhoodScout research, the percentage of residential real estate occupied by its owner is higher here than in 96.0% of neighborhoods in America.

Occupations

The Rancho Penasquitos Southwest neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 97.1% of the neighborhoods in America. In fact, 73.3% 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.

Diversity

Did you know that the Rancho Penasquitos Southwest neighborhood has more Belgian and Russian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.2% of this neighborhood's residents have Belgian ancestry and 5.1% have Russian ancestry.

Rancho Penasquitos Southwest is also pretty special linguistically. Significantly, 12.8% of its residents five years old and above primarily speak Chinese at home. While this may seem like a small percentage, it is higher than 98.4% 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 Rancho Penasquitos Southwest neighborhood in San Diego 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 98.4% 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 Rancho Penasquitos Southwest neighborhood, 73.3% 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 18.6% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (6.2%), and 4.7% 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 Rancho Penasquitos Southwest neighborhood is English, spoken by 64.2% of households. Other important languages spoken here include Chinese, Spanish, Tagalog (the first language of the Philippine region) and Vietnamese.

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 Rancho Penasquitos Southwest neighborhood in San Diego, CA, residents most commonly identify their ethnicity or ancestry as Asian (32.9%). There are also a number of people of German ancestry (16.3%), and residents who report Irish roots (11.8%), and some of the residents are also of South American ancestry (7.4%), along with some English ancestry residents (6.3%), among others. In addition, 33.3% 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 Rancho Penasquitos Southwest neighborhood spend between 15 and 30 minutes commuting one-way to work (47.3% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (66.5%) 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 (6.9%) . 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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