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Real Estate Prices & Overview

Palmer Park median real estate price is $559,890, which is more expensive than 52.9% of the neighborhoods in Colorado and 69.4% of the neighborhoods in the U.S.

The average rental price in Palmer Park is currently $2,334, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 55.1% of Colorado neighborhoods.

Palmer Park is a suburban neighborhood (based on population density) located in Colorado Springs, Colorado.

Palmer Park 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 occupied by a mixture of owners and renters. Many of the residences in the Palmer Park neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Real estate vacancies in Palmer Park are 3.2%, which is lower than one will find in 78.5% of American neighborhoods. Demand for real estate in Palmer Park 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 Colorado Springs, the Palmer Park neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

Of note is NeighborhoodScout's research finding that the Palmer Park neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Palmer Park community truly stands out from the rest in this regard.

In addition, the first thing that you'll notice if you moved to this neighborhood is that an astounding 3.9% of the households are same sex couples. According to NeighborhoodScout's analysis, this is a higher proportion of same sex households than in 99.7% of the neighborhoods in America. This is one indicator that this neighborhood is likely a gay-friendly neighborhood. So if you are looking for such a neighborhood, the Palmer Park neighborhood should definitely be on your list of places to consider.

Occupations

The Palmer Park neighborhood stands out nationally for having a greater proportion of its residents active in the military than 95.0% of other U.S. neighborhoods. If you come here, you will notice military people active in their jobs, going to and from work, and in plain clothes out and about the neighborhood.

Diversity

Did you know that the Palmer Park neighborhood has more Scots-Irish and Iranian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 8.3% of this neighborhood's residents have Scots-Irish ancestry and 3.6% have Iranian ancestry.

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 Palmer Park neighborhood in Colorado Springs are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 46.7% 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 Palmer Park neighborhood, 46.5% 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 20.4% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (15.9%), and 15.3% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

Languages

The most common language spoken in the Palmer Park neighborhood is English, spoken by 89.4% of households. Some people also speak Spanish (6.0%).

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 Palmer Park neighborhood in Colorado Springs, CO, residents most commonly identify their ethnicity or ancestry as German (28.8%). There are also a number of people of English ancestry (20.4%), and residents who report Mexican roots (9.1%), and some of the residents are also of Scots-Irish ancestry (8.3%), along with some Spanish ancestry residents (6.0%), 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 Palmer Park neighborhood spend between 15 and 30 minutes commuting one-way to work (46.7% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (61.0%) 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 (17.6%) . 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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