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Real Estate Prices & Overview

Oak median real estate price is $138,355, which is less expensive than 76.2% of Michigan neighborhoods and 86.0% of all U.S. neighborhoods.

The average rental price in Oak is currently $1,481, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 67.0% of Michigan neighborhoods.

Oak is a suburban neighborhood (based on population density) located in Detroit, Michigan.

Oak real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two 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 Oak neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

Oak has a 13.9% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 73.8% 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

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

Diversity

Did you know that the Oak neighborhood has more African and Sub-Saharan African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 13.8% of this neighborhood's residents have African ancestry and 15.9% have Sub-Saharan African ancestry.

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 Oak neighborhood in Detroit are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 40.8% of the neighborhoods in America. With 16.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 61.7% 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 Oak neighborhood, 27.9% of the working population is employed in manufacturing and laborer occupations. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 25.7% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (24.3%), and 22.2% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Oak neighborhood is English, spoken by 98.4% of households.

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 Oak neighborhood in Detroit, MI, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (15.9%). There are also a number of people of African ancestry (13.8%), and residents who report Jamaican roots (3.6%), and some of the residents are also of Haitian ancestry (2.5%).

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 Oak neighborhood spend between 15 and 30 minutes commuting one-way to work (55.5% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (69.9%) 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 (20.8%) . 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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