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Real Estate Prices & Overview

Lake Estates median real estate price is $1,202,316, which is more expensive than 96.4% of the neighborhoods in Florida and 95.3% of the neighborhoods in the U.S.

The average rental price in Lake Estates is currently $2,957, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 64.9% of the neighborhoods in Florida.

Lake Estates is an urban neighborhood (based on population density) located in Fort Lauderdale, Florida.

Lake Estates real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Lake Estates neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Vacant apartments or homes are a major fact of life in Lake Estates. The current real estate vacancy rate here is 30.0%. This is higher than the rate of vacancies in 94.7% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (21.4%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually 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 Fort Lauderdale, the Lake Estates neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

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

In addition, the first thing that you'll notice if you moved to this neighborhood is that an astounding 3.2% of the households are same sex couples. According to NeighborhoodScout's analysis, this is a higher proportion of same sex households than in 99.3% 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 Lake Estates neighborhood should definitely be on your list of places to consider.

Also, if you are an executive or professional seeking a neighborhood affording an executive lifestyle, or just wanting to find where other executives live in the area, the Lake Estates neighborhood should be on your list. It has an enviable mix of spacious homes, relatively stable real estate values, and residents that include a number of wealthy executives, managers, and professionals. NeighborhoodScout's exclusive analysis places it as one of the top 13.1% executive lifestyle neighborhoods in the state of Florida. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for active retirees.

Modes of Transportation

In the Lake Estates neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 32.6% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 98.0% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.

Diversity

Did you know that the Lake Estates neighborhood has more Hungarian and Dutch ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.0% of this neighborhood's residents have Hungarian ancestry and 6.0% have Dutch ancestry.

Lake Estates is also pretty special linguistically. Significantly, 3.4% of its residents five years old and above primarily speak Portuguese at home. While this may seem like a small percentage, it is higher than 98.8% 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 Lake Estates neighborhood in Fort Lauderdale are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 54.2% 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 Lake Estates neighborhood, 65.7% 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 24.0% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (7.7%), and 5.5% 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 Lake Estates neighborhood is English, spoken by 83.6% of households. Other important languages spoken here include Spanish and Portuguese.

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 Lake Estates neighborhood in Fort Lauderdale, FL, residents most commonly identify their ethnicity or ancestry as Irish (12.0%). There are also a number of people of German ancestry (11.7%), and residents who report Italian roots (10.8%), and some of the residents are also of English ancestry (6.8%), along with some Dutch ancestry residents (6.0%), among others. In addition, 19.5% 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 Lake Estates neighborhood spend between 15 and 30 minutes commuting one-way to work (53.8% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (64.3%) 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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