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Real Estate Prices & Overview

Watermill / Watermill Cove median real estate price is $506,038, which is more expensive than 66.9% of the neighborhoods in Florida and 69.8% of the neighborhoods in the U.S.

The average rental price in Watermill / Watermill Cove is currently $3,299, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 75.6% of the neighborhoods in Florida.

Watermill / Watermill Cove is a suburban neighborhood (based on population density) located in Orlando, Florida.

Watermill / Watermill Cove real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Watermill / Watermill Cove neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

In Watermill / Watermill Cove, the current vacancy rate is 2.5%, which is a lower rate of vacancies than 83.5% of all neighborhoods in the U.S. This means that the housing supply in Watermill / Watermill Cove 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.

People

Of note is NeighborhoodScout's research finding that the Watermill / Watermill Cove neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Watermill / Watermill Cove community truly stands out from the rest in this regard.

In addition, a majority of the adults in the Watermill / Watermill Cove 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 Florida by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 95.0% of the neighborhoods in Florida. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for families with school-aged children.

Real Estate

Most neighborhoods are composed of a mixture of ages of homes, but the Watermill / Watermill Cove 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, 89.9% of the residential real estate here was built in this one time period.

In addition, some neighborhoods are made up of apartments. Some consist of row houses, and most - by far - consist of a mixture of housing types. But the Watermill / Watermill Cove neighborhood stands out due to the total dominance of detached, single-family homes here. There are nearly no other types of residential real estate in the neighborhood. In fact, this neighborhood has a higher proportion of single-family homes in its real estate stock than 96.0% of all American neighborhoods.

Diversity

Did you know that the Watermill / Watermill Cove neighborhood has more Puerto Rican and Slovak ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 10.9% of this neighborhood's residents have Puerto Rican ancestry and 1.3% have Slovak ancestry.

Watermill / Watermill Cove is also pretty special linguistically. Significantly, 4.5% of its residents five years old and above primarily speak Vietnamese at home. While this may seem like a small percentage, it is higher than 97.9% of the neighborhoods in America.

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 Watermill / Watermill Cove neighborhood in Orlando 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 89.8% 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.

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 Watermill / Watermill Cove neighborhood, 56.4% 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 22.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (14.8%), and 10.2% in government jobs, whether they are in local, state, or federal positions.

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 Watermill / Watermill Cove neighborhood is English, spoken by 79.3% of households. Other important languages spoken here include Spanish, Vietnamese and Chinese.

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 Watermill / Watermill Cove neighborhood in Orlando, FL, residents most commonly identify their ethnicity or ancestry as German (15.6%). There are also a number of people of Asian ancestry (10.9%), and residents who report Puerto Rican roots (10.9%), and some of the residents are also of English ancestry (10.9%), along with some Irish ancestry residents (6.7%), among others. In addition, 16.4% 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 Watermill / Watermill Cove neighborhood spend between 30 and 45 minutes commuting one-way to work (40.2% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (70.2%) 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 (11.0%) . 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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