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Real Estate Prices & Overview

Silver Lake median real estate price is $207,436, which is less expensive than 76.4% of Florida neighborhoods and 71.8% of all U.S. neighborhoods.

The average rental price in Silver Lake is currently $2,344, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 71.6% of Florida neighborhoods.

Silver Lake is a suburban neighborhood (based on population density) located in Leesburg, Florida.

Silver Lake real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) mobile homes and single-family homes. Most of the residential real estate is owner occupied. Many of the residences in the Silver Lake 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.

Vacant apartments or homes are a major fact of life in Silver Lake. The current real estate vacancy rate here is 22.0%. This is higher than the rate of vacancies in 88.4% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (16.2%). 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

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.

Modes of Transportation

Would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the Silver Lake neighborhood is a fantastic option for bicycle commuters, as 6.9% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 98.9% of the neighborhoods in America.

Real Estate

The real estate in this neighborhood consists of more mobile homes than 98.6% of all neighborhoods in America, with 46.2% of the occupied housing here being classified as mobile homes. So if you are looking for a mobile home, or you like the look and feel of mobile home parks, this neighborhood might have the setting you desire.

In addition, most neighborhoods are composed of a mixture of ages of homes, but the Silver Lake stands out as rather unique in having nearly all of its residential real estate built in one time period, namely between 1970 and 1999, generally considered to be established, but not old housing. What you'll sense when you look around or drive the streets of this neighborhood is that many of the residences look the same because of this similarity of age. In fact, 83.2% of the residential real estate here was built in this one time period.

Diversity

Did you know that the Silver Lake neighborhood has more Finnish and Canadian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.4% of this neighborhood's residents have Finnish ancestry and 1.1% have Canadian ancestry.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Silver Lake neighborhood in Leesburg are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 64.4% of U.S. neighborhoods. With 44.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 91.2% of U.S. neighborhoods.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the Silver Lake neighborhood, 43.2% 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 25.5% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (22.2%), and 9.2% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Silver Lake neighborhood is English, spoken by 86.9% of households. Some people also speak Spanish (8.4%).

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 Silver Lake neighborhood in Leesburg, FL, residents most commonly identify their ethnicity or ancestry as Italian (14.6%). There are also a number of people of English ancestry (12.3%), and residents who report German roots (11.8%), and some of the residents are also of Irish ancestry (10.0%), along with some Polish ancestry residents (9.7%), 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 Silver Lake neighborhood spend between 15 and 30 minutes commuting one-way to work (37.4% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (69.8%) 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 (13.6%) and 6.9% of residents also bicycle for their daily commute. 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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Schools include:
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