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Real Estate Prices & Overview

Monterey median real estate price is $404,064, which is more expensive than 84.5% of the neighborhoods in Kansas and 59.0% of the neighborhoods in the U.S.

The average rental price in Monterey is currently $1,708, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 69.3% of the neighborhoods in Kansas.

Monterey is a suburban neighborhood (based on population density) located in Lawrence, Kansas.

Monterey real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Monterey neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

Home and apartment vacancy rates are 8.5% in Monterey. NeighborhoodScout analysis shows that this rate is lower than 47.0% of the neighborhoods in the nation, approximately near the middle range for vacancies.

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 Lawrence, the Monterey neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

Some neighborhoods have residents that are more educated than others. But in this neighborhood there is a dramatic difference. NeighborhoodScout's exclusive analysis reveals that 37.1% of the adults here have earned a Masters degree, medical degree, Ph.D. or law degree. This is a higher rate of people with a graduate degree than is found in 96.1% of U.S. neighborhoods, where the average American neighborhood has 13.1% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.

Real Estate

Homes built from 2000 through today make up a higher proportion of the Monterey neighborhood's real estate landscape than 95.6% of the neighborhoods in America. When you are driving around this neighborhood, you'll notice right away that it is one of the newest built of any, with the smell of fresh paint, and the look of young landscaping nearly everywhere you look. In fact, 67.2% of the residential real estate here is classified as newer.

Occupations

The Monterey neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 95.1% of the neighborhoods in America. In fact, 68.5% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.

Diversity

Did you know that the Monterey neighborhood has more Arab and British ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.2% of this neighborhood's residents have Arab ancestry and 2.2% have British ancestry.

Monterey is also pretty special linguistically. Significantly, 3.4% of its residents five years old and above primarily speak Arabic at home. While this may seem like a small percentage, it is higher than 97.2% of the neighborhoods in America.

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 Monterey neighborhood in Lawrence are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 55.8% of the neighborhoods in America. With 11.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 51.1% of U.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 Monterey neighborhood, 68.5% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 11.4% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (11.2%), and 8.8% in manufacturing and laborer occupations.

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 Monterey neighborhood is English, spoken by 86.6% of households. Other important languages spoken here include Arabic and Chinese.

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 Monterey neighborhood in Lawrence, KS, residents most commonly identify their ethnicity or ancestry as German (23.6%). There are also a number of people of Irish ancestry (17.9%), and residents who report English roots (8.6%), and some of the residents are also of Asian ancestry (5.9%), along with some Arab ancestry residents (5.2%), among others. In addition, 10.4% 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 Monterey neighborhood spend between 15 and 30 minutes commuting one-way to work (33.3% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (84.1%) 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 (5.9%) . 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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