menu






Real Estate Prices & Overview

Lake Somerset / Raintree median real estate price is $366,432, which is less expensive than 58.4% of Florida neighborhoods and 49.6% of all U.S. neighborhoods.

The average rental price in Lake Somerset / Raintree is currently $2,010, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 75.3% of Florida neighborhoods.

Lake Somerset / Raintree is a suburban neighborhood (based on population density) located in Lakeland, Florida.

Lake Somerset / Raintree real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two 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 Lake Somerset / Raintree neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Home and apartment vacancy rates are 6.0% in Lake Somerset / Raintree. NeighborhoodScout analysis shows that this rate is lower than 59.8% of the neighborhoods in the nation, approximately near the middle range for vacancies.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

Diversity

Did you know that the Lake Somerset / Raintree neighborhood has more Lebanese and Hungarian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.3% of this neighborhood's residents have Lebanese ancestry and 3.8% have Hungarian 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 Lake Somerset / Raintree neighborhood in Lakeland are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 54.1% of the neighborhoods in America. With 24.0% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 74.4% of U.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 Somerset / Raintree neighborhood, 46.3% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 19.2% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (17.4%), and 17.1% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

Languages

The most common language spoken in the Lake Somerset / Raintree neighborhood is English, spoken by 76.7% of households. Some people also speak Spanish (14.3%).

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Lake Somerset / Raintree neighborhood in Lakeland, FL, residents most commonly identify their ethnicity or ancestry as South American (11.1%). There are also a number of people of German ancestry (9.7%), and residents who report English roots (8.0%), and some of the residents are also of Puerto Rican ancestry (7.2%), along with some Irish ancestry residents (6.6%), among others. In addition, 14.7% 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 Lake Somerset / Raintree neighborhood spend between 15 and 30 minutes commuting one-way to work (47.2% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (78.6%) 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 (17.8%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


Real Estate includes:
Average Home Values
Rental Market
Housing Market Details
Neighborhood Setting
Economics & Demographics include:
Lifestyle & Special Character
Household Types
Commute To Work
Migration & Mobility
Race & Ethnic Diversity
Employment Industries & Occupations
Income & Unemployment Rate
Higher Education Attainment
Crime includes:
Neighborhood Crime Index
Crimes Per Square Mile
Property Crime Comparison
Violent Crime Comparison
Schools include:
School Ratings
Schools In District
Public School Test Scores
School District Enrollment
Educational Expenditures

comparable neighborhoods nearby