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Real Estate Prices & Overview

Waterford North median real estate price is $264,128, which is more expensive than 57.3% of the neighborhoods in Michigan and 35.6% of the neighborhoods in the U.S.

The average rental price in Waterford North is currently $2,232, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 88.4% of the neighborhoods in Michigan.

Waterford North is a suburban neighborhood (based on population density) located in Waterford, Michigan.

Waterford North 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 Waterford North neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

In Waterford North, the current vacancy rate is 2.8%, which is a lower rate of vacancies than 81.3% of all neighborhoods in the U.S. This means that the housing supply in Waterford North 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 Waterford, the Waterford North neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Diversity

Did you know that the Waterford North neighborhood has more Lebanese and Native American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.1% of this neighborhood's residents have Lebanese ancestry and 2.5% have Native American ancestry.

Waterford North is also pretty special linguistically. Significantly, 4.3% of its residents five years old and above primarily speak Greek at home. While this may seem like a small percentage, it is higher than 99.9% 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 Waterford North neighborhood in Waterford are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 47.7% of the neighborhoods in America. In addition, 3.2% 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 70.8% of America'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 Waterford North neighborhood, 37.1% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 26.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (20.3%), and 15.6% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

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 Waterford North neighborhood is English, spoken by 89.6% of households. Other important languages spoken here include Italian, Greek, Chinese and Arabic.

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 Waterford North neighborhood in Waterford, MI, residents most commonly identify their ethnicity or ancestry as German (12.6%). There are also a number of people of English ancestry (10.6%), and residents who report Irish roots (8.4%), and some of the residents are also of Mexican ancestry (6.3%), along with some Polish ancestry residents (5.5%), 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 Waterford North neighborhood spend between 15 and 30 minutes commuting one-way to work (29.8% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (84.6%) 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 (5.8%) . 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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