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Real Estate Prices & Overview

Parkwood Estates median real estate price is $1,431,518, which is more expensive than 73.1% of the neighborhoods in California and 92.9% of the neighborhoods in the U.S.

The average rental price in Parkwood Estates is currently $4,726, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 88.4% of the neighborhoods in California.

Parkwood Estates is a rural neighborhood (based on population density) located in Westlake Village, California.

Parkwood Estates real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and mobile homes. Most of the residential real estate is owner occupied. Many of the residences in the Parkwood Estates 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.

Parkwood Estates has a 14.0% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 75.4% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.

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 Westlake Village, the Parkwood Estates neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

If you are planning to retire in California, this neighborhood should be on your must-see list. For many reasons, Parkwood Estates may be considered a retiree's dream neighborhood. According to NeighborhoodScout's exclusive analysis and metrics, it's peaceful and quiet, has above average safety from crime compared to other neighborhoods in California, while also offering a diverse range of housing options. This, along with the vibrant mix of very educated seniors and other age groups who choose to live here, makes the neighborhood more retiree-friendly than 95.7% of neighborhoods in CA. If a California retirement is in your future, this neighborhood should be one of the places you visit. In addition to being an excellent choice for active retirees, this neighborhood is also a very good choice for highly educated executives and urban sophisticates.

Diversity

Did you know that the Parkwood Estates neighborhood has more Iranian and Eastern European ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.0% of this neighborhood's residents have Iranian ancestry and 3.2% have Eastern European ancestry.

Parkwood Estates is also pretty special linguistically. Significantly, 2.2% of its residents five years old and above primarily speak Persian at home. While this may seem like a small percentage, it is higher than 99.2% 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 Parkwood Estates neighborhood in Westlake Village 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. In addition, 8.7% 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 54.0% of America's neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Parkwood Estates neighborhood, 59.6% 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 19.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (10.3%), and 9.2% 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 Parkwood Estates neighborhood is English, spoken by 86.0% of households. Other important languages spoken here include Spanish and Persian.

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 Parkwood Estates neighborhood in Westlake Village, CA, residents most commonly identify their ethnicity or ancestry as Irish (14.3%). There are also a number of people of Mexican ancestry (13.9%), and residents who report English roots (12.2%), and some of the residents are also of German ancestry (11.5%), along with some Italian ancestry residents (6.0%), among others. In addition, 15.5% of the residents of this neighborhood were born in another country.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Parkwood Estates neighborhood spend under 15 minutes commuting one-way to work (33.2% of working residents), one of the shortest commutes across America.

Here most residents (70.1%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (5.6%) . 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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