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Real Estate Prices & Overview

Spring Lake median real estate price is $328,425, which is more expensive than 84.0% of the neighborhoods in Indiana and 50.8% of the neighborhoods in the U.S.

The average rental price in Spring Lake is currently $1,757, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 76.6% of the neighborhoods in Indiana.

Spring Lake is a suburban neighborhood (based on population density) located in New Palestine, Indiana.

Spring Lake real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Spring 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.

Real estate vacancies in Spring Lake are 4.4%, which is lower than one will find in 72.0% of American neighborhoods. Demand for real estate in Spring Lake is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

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 New Palestine, the Spring Lake neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

If you're looking for a great spot to raise a family, then look no further than the Spring Lake neighborhood. NeighborhoodScout's analysis found that the combination of good quality public schools, above-average safety from crime, and a high rate of home ownership in predominantly single-family homes, help make this neighborhood among the top 13.2% of family-friendly neighborhoods across the state of Indiana. In addition, there are a high proportion of other families with school-aged children living here, making it easy for parents and their children to socialize and develop a sense of community support. In addition, families here highly value education, as is reflected by the strength of the local schools, in part due to the educational attainment of the parents here, who vote in support of the public schools. In addition to being an excellent choice for families with school-aged children, this neighborhood is also a very good choice for highly educated executives.

Diversity

Did you know that the Spring Lake neighborhood has more Welsh and Eastern European ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.2% of this neighborhood's residents have Welsh ancestry and 1.5% have Eastern European 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 Spring Lake neighborhood in New Palestine are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 65.2% of the neighborhoods in America. In addition, 6.1% 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 61.9% of America's neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Spring Lake neighborhood, 45.6% 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 27.0% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (15.6%), and 11.8% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Spring Lake neighborhood is English, spoken by 96.3% of households. Some people also speak Spanish (3.6%).

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 Spring Lake neighborhood in New Palestine, IN, residents most commonly identify their ethnicity or ancestry as Irish (17.4%). There are also a number of people of German ancestry (16.8%), and residents who report English roots (7.6%), and some of the residents are also of Polish ancestry (3.2%), along with some Welsh ancestry residents (3.2%), 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 Spring Lake neighborhood spend between 15 and 30 minutes commuting one-way to work (34.1% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (85.6%) 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 (7.0%) . 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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