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Real Estate Prices & Overview

Lake Merial median real estate price is $197,362, which is less expensive than 84.7% of Florida neighborhoods and 77.4% of all U.S. neighborhoods.

The average rental price in Lake Merial is currently $1,417, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 94.7% of Florida neighborhoods.

Lake Merial is a remote neighborhood (based on population density) located in Panama City, Florida.

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

Lake Merial has a 10.3% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 62.8% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are 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.

Real Estate

The Lake Merial neighborhood stands out for having the majority of its residential real estate made up of mobile homes. In fact, 50.8% of the occupied real estate here are mobile homes, which is a greater proportion than is found in 99.1% of the neighborhoods in the U.S. If you like mobile homes, this might be a great neighborhood in which to look for real estate.

In addition, unpopulated, and rural, the Lake Merial neighborhood is one of the least crowded neighborhoods in all of America. If you like open space, no traffic, and lots of room, this neighborhood may be just what you are looking for. According to NeighborhoodScout's leading research, this neighborhood is less densely populated than 93.2% of the neighborhoods in America.

Occupations

Each year, fewer and fewer Americans make their living as farmers, foresters, or fishers. But the Lake Merial neighborhood truly stands out among U.S. neighborhoods. According to exclusive NeighborhoodScout analysis, this neighborhood has a greater proportion of farmers, foresters, or fishers than 96.3% of all American neighborhoods. This is truly a unique cultural characteristic of this neighborhood.

People

Whether by choice, divorce, or unplanned pregnancy, single moms may have the toughest job in the book. NeighborhoodScout's exclusive analysis reveals that the Lake Merial neighborhood has more single mother households than 95.0% of the neighborhoods in the U.S. Often high concentrations of single mother homes can be a strong indicator of family and social issues such as poverty, high rates of school dropouts, crime, and other societal problems.

Diversity

Significantly, 1.1% of its residents five years old and above primarily speak Greek at home. While this may seem like a small percentage, it is higher than 97.4% 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 Lake Merial neighborhood in Panama City are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 72.1% of U.S. neighborhoods. With 29.9% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 81.1% 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 Lake Merial neighborhood, 32.2% 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 23.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (20.4%), and 19.4% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

Languages

The most common language spoken in the Lake Merial neighborhood is English, spoken by 93.7% of households. Some people also speak Spanish (5.1%).

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 Lake Merial neighborhood in Panama City, FL, residents most commonly identify their ethnicity or ancestry as Irish (14.9%). There are also a number of people of German ancestry (11.0%), and residents who report English roots (9.4%), and some of the residents are also of Mexican ancestry (5.3%), along with some Puerto Rican ancestry residents (2.1%), 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 Lake Merial neighborhood spend between 30 and 45 minutes commuting one-way to work (52.5% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (67.0%) 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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