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Real Estate Prices & Overview

Firebrook Estates / Palomar Hills Community median real estate price is $557,404, which is more expensive than 96.6% of the neighborhoods in Kentucky and 74.0% of the neighborhoods in the U.S.

The average rental price in Firebrook Estates / Palomar Hills Community is currently $2,108, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 91.9% of the neighborhoods in Kentucky.

Firebrook Estates / Palomar Hills Community is a rural neighborhood (based on population density) located in Lexington, Kentucky.

Firebrook Estates / Palomar Hills Community 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 Firebrook Estates / Palomar Hills Community 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.

In Firebrook Estates / Palomar Hills Community, the current vacancy rate is 3.0%, which is a lower rate of vacancies than 80.1% of all neighborhoods in the U.S. This means that the housing supply in Firebrook Estates / Palomar Hills Community 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 Lexington, the Firebrook Estates / Palomar Hills Community neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

Of note is NeighborhoodScout's research finding that the Firebrook Estates / Palomar Hills Community 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 Firebrook Estates / Palomar Hills Community community truly stands out from the rest in this regard.

In addition, a majority of the adults in the Firebrook Estates / Palomar Hills Community 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 Kentucky by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 98.1% of the neighborhoods in Kentucky. 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, active retirees and urban sophisticates.

Also, astoundingly, NeighborhoodScout's research reveals that this single neighborhood has a higher concentration of married couples living here than 97.5% of all U.S. neighborhoods. Whether they have school-aged children or not, married couples are the rule in the Firebrook Estates / Palomar Hills Community neighborhood. If you are a married couple, you may find many people here with a similar lifestyle, and perhaps common interests. But if you are single, you might not find many other singles here.

Real Estate

Most neighborhoods are composed of a mixture of ages of homes, but the Firebrook Estates / Palomar Hills Community 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, 83.7% of the residential real estate here was built in this one time period.

Occupations

Executives, managers and professionals make up 69.2% of the workforce in the Firebrook Estates / Palomar Hills Community neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 95.0% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.

Diversity

Significantly, 1.2% of its residents five years old and above primarily speak Urdu, which is the national language of Pakistan, at home. While this may seem like a small percentage, it is higher than 97.6% 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 Firebrook Estates / Palomar Hills Community neighborhood in Lexington 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 92.0% 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 Firebrook Estates / Palomar Hills Community neighborhood, 69.2% 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 11.3% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (10.5%), and 7.6% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Firebrook Estates / Palomar Hills Community neighborhood is English, spoken by 92.2% of households.

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 Firebrook Estates / Palomar Hills Community neighborhood in Lexington, KY, residents most commonly identify their ethnicity or ancestry as English (18.1%). There are also a number of people of German ancestry (16.8%), and residents who report Irish roots (9.7%), and some of the residents are also of Asian ancestry (5.4%), along with some Italian ancestry residents (4.5%), among others.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Firebrook Estates / Palomar Hills Community neighborhood spend between 15 and 30 minutes commuting one-way to work (45.0% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (82.7%) 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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