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Real Estate Prices & Overview

Oakwood / Waterstone median real estate price is $434,210, which is more expensive than 84.7% of the neighborhoods in Michigan and 60.8% of the neighborhoods in the U.S.

The average rental price in Oakwood / Waterstone is currently $2,294, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 89.8% of the neighborhoods in Michigan.

Oakwood / Waterstone is a rural neighborhood (based on population density) located in Oxford, Michigan.

Oakwood / Waterstone 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 Oakwood / Waterstone neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

In Oakwood / Waterstone, the current vacancy rate is 0.6%, which is a lower rate of vacancies than 92.6% of all neighborhoods in the U.S. This means that the housing supply in Oakwood / Waterstone 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 Oxford, the Oakwood / Waterstone neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

The Oakwood / Waterstone neighborhood is a great option for families, as revealed by NeighborhoodScout's research on this neighborhood. The combination of top public schools, low crime rates, and owner-occupied single family homes, make this neighborhood among the top 8.5% of family-friendly neighborhoods in the state of Michigan. Many other families also live here, making it easy to socialize and develop a sense of community. In addition, families here highly value education, as is reflected by the strength of the local 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 and urban sophisticates.

Diversity

Did you know that the Oakwood / Waterstone neighborhood has more Belgian and Swiss ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.2% of this neighborhood's residents have Belgian ancestry and 1.5% have Swiss ancestry.

Oakwood / Waterstone is also pretty special linguistically. Significantly, 0.7% of its residents five years old and above primarily speak Persian at home. While this may seem like a small percentage, it is higher than 96.4% 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 Oakwood / Waterstone neighborhood in Oxford 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 90.5% of the neighborhoods in America. In addition, 3.8% 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 68.6% 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 Oakwood / Waterstone neighborhood, 49.4% 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 28.1% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (15.6%), and 6.9% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Oakwood / Waterstone neighborhood is English, spoken by 90.7% of households.

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 Oakwood / Waterstone neighborhood in Oxford, MI, residents most commonly identify their ethnicity or ancestry as German (23.4%). There are also a number of people of English ancestry (15.0%), and residents who report Irish roots (11.3%), and some of the residents are also of Polish ancestry (10.4%), along with some Italian ancestry residents (7.7%), 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 Oakwood / Waterstone neighborhood spend between 30 and 45 minutes commuting one-way to work (34.2% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (79.2%) 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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