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Real Estate Prices & Overview

Summerfield median real estate price is $663,779, which is more expensive than 63.7% of the neighborhoods in Colorado and 80.3% of the neighborhoods in the U.S.

The average rental price in Summerfield is currently $2,660, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 62.4% of the neighborhoods in Colorado.

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

Summerfield real estate is primarily made up of large (four, five or more bedroom) to medium sized (three or four bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Summerfield 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.

In Summerfield, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Summerfield 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.

Real Estate

With a real estate vacancy rate of only 0.0%, the Summerfield neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.

In addition, one way that the Summerfield neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 98.9% 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.

People

In a nation where 1 out of every 4 children lives in poverty, the Summerfield neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

In addition, a majority of the adults in the Summerfield neighborhood are wealthy and educated executives. They own stately homes that tend to maintain high real estate appreciation rates. Their upper-level careers keep them busy, but allow them to live comfortably. If you're an executive and want to keep similar company, consider settling in this neighborhood, rated as an executive lifestyle "best choice" neighborhood for Colorado by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 97.5% of the neighborhoods in Colorado.

Occupations

With 6.7% of employed workers living in the Summerfield neighborhood active in the military, this neighborhood has the distinction of having a higher proportion of people in the military than 99.1% of American neighborhoods. This is a major shaper of the neighborhood's culture and character.

Diversity

Did you know that the Summerfield neighborhood has more Swedish and Belgian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.5% of this neighborhood's residents have Swedish ancestry and 0.6% have Belgian ancestry.

Summerfield is also pretty special linguistically. Significantly, 1.6% of its residents five years old and above primarily speak Korean at home. While this may seem like a small percentage, it is higher than 95.0% 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 Summerfield neighborhood in Colorado Springs 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 91.5% 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 Summerfield neighborhood, 64.6% 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 16.5% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (9.8%), and 9.2% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Summerfield neighborhood is English, spoken by 93.9% of households.

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 Summerfield neighborhood in Colorado Springs, CO, residents most commonly identify their ethnicity or ancestry as German (20.9%). There are also a number of people of Irish ancestry (12.0%), and residents who report English roots (10.7%), and some of the residents are also of Swedish ancestry (4.5%), along with some Mexican ancestry residents (3.6%), among others.

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 Summerfield neighborhood spend between 15 and 30 minutes commuting one-way to work (40.8% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (70.8%) 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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