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Real Estate Prices & Overview

Springlake / Memorial Park median real estate price is $1,155,876, which is more expensive than 98.9% of the neighborhoods in Georgia and 94.7% of the neighborhoods in the U.S.

The average rental price in Springlake / Memorial Park is currently $3,089, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 83.1% of the neighborhoods in Georgia.

Springlake / Memorial Park is a suburban neighborhood (based on population density) located in Atlanta, Georgia.

Springlake / Memorial Park 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 occupied by a mixture of owners and renters. Many of the residences in the Springlake / Memorial Park neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

In Springlake / Memorial Park, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Springlake / Memorial Park is very tight compared to the demand for property here.

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 Atlanta, the Springlake / Memorial Park neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

Owner-occupied real estate dominates the Springlake / Memorial Park neighborhood. In fact, according to NeighborhoodScout research, the percentage of residential real estate occupied by its owner is higher here than in 96.5% of neighborhoods in America. With a real estate vacancy rate of only 0.0%, the Springlake / Memorial Park neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.

People

If you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 0.5% of America's neighborhoods are wealthier than the Springlake / Memorial Park neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe. As one would expect in a considerably wealthy neighborhood such as this, Springlake / Memorial Park also has one of the lowest ratings of child poverty in the nation.

In addition, do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 95.0% of the adults living in the Springlake / Memorial Park neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 99.9% of U.S. neighborhoods. In this way, this neighborhood truly stands out.

Also, if you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the Springlake / Memorial Park neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 99.5% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the Springlake / Memorial Park neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for college students, families with school-aged children and highly educated executives.

Finally, the first thing that you'll notice if you moved to this neighborhood is that an astounding 3.3% 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 Springlake / Memorial Park neighborhood should definitely be on your list of places to consider.

Modes of Transportation

In the Springlake / Memorial Park neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 36.6% 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 99.1% 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 Springlake / Memorial Park neighborhood has more English and Iranian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 28.4% of this neighborhood's residents have English ancestry and 1.8% have Iranian 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 Springlake / Memorial Park neighborhood in Atlanta 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 99.5% 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 Springlake / Memorial Park neighborhood, 62.9% 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 34.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (2.3%).

Languages

The most common language spoken in the Springlake / Memorial Park neighborhood is English, spoken by 92.2% of households. Some people also speak Spanish (4.9%).

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 Springlake / Memorial Park neighborhood in Atlanta, GA, residents most commonly identify their ethnicity or ancestry as English (28.4%). There are also a number of people of German ancestry (20.3%), and residents who report Irish roots (19.2%), and some of the residents are also of Italian ancestry (7.6%), along with some Polish ancestry residents (4.1%), 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 Springlake / Memorial Park neighborhood spend under 15 minutes commuting one-way to work (38.5% of working residents), one of the shortest commutes across America.

Here most residents (62.2%) 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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