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Real Estate Prices & Overview

Palmer Heights median real estate price is $373,256, which is less expensive than 81.2% of Colorado neighborhoods and 46.0% of all U.S. neighborhoods.

The average rental price in Palmer Heights is currently $1,777, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 81.7% of Colorado neighborhoods.

Palmer Heights is an urban neighborhood (based on population density) located in Colorado Springs, Colorado.

Palmer Heights 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 Heights neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

In Palmer Heights, the current vacancy rate is 1.3%, which is a lower rate of vacancies than 90.3% of all neighborhoods in the U.S. This means that the housing supply in Palmer Heights is very tight compared to the demand for property here.

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

People

The first thing that you'll notice if you moved to this neighborhood is that an astounding 3.3% of the households are same sex couples. According to NeighborhoodScout's analysis, this is a higher proportion of same sex households than in 99.4% 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 Heights neighborhood should definitely be on your list of places to consider.

Diversity

Significantly, 6.7% of its residents five years old and above primarily speak Italian at home. While this may seem like a small percentage, it is higher than 95.6% 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 Palmer Heights neighborhood in Colorado Springs are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 79.5% of U.S. neighborhoods. In addition, 4.7% 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 65.8% 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 Palmer Heights neighborhood, 31.3% 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 30.4% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (22.6%), and 15.7% 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 Palmer Heights neighborhood is English, spoken by 95.7% of households. Other important languages spoken here include Italian and Spanish.

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 Heights neighborhood in Colorado Springs, CO, residents most commonly identify their ethnicity or ancestry as German (19.7%). There are also a number of people of Irish ancestry (18.7%), and residents who report English roots (11.7%), and some of the residents are also of Spanish ancestry (7.7%), along with some Mexican ancestry residents (7.5%), 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 Heights neighborhood spend between 15 and 30 minutes commuting one-way to work (53.1% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (76.7%) 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 (10.3%) . 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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