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Real Estate Prices & Overview

Springlake median real estate price is $219,604, which is more expensive than 67.4% of the neighborhoods in Mississippi and 30.4% of the neighborhoods in the U.S.

The average rental price in Springlake is currently $1,689, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 79.0% of the neighborhoods in Mississippi.

Springlake is a suburban neighborhood (based on population density) located in Tupelo, Mississippi.

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

Springlake has a 11.2% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 65.0% 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.

People

If you are an executive or professional seeking a neighborhood affording an executive lifestyle, or just wanting to find where other executives live in the area, the Springlake neighborhood should be on your list. It has an enviable mix of spacious homes, relatively stable real estate values, and residents that include a number of wealthy executives, managers, and professionals. NeighborhoodScout's exclusive analysis places it as one of the top 11.5% executive lifestyle neighborhoods in the state of Mississippi.

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 Springlake neighborhood in Tupelo are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 54.7% of the neighborhoods in America. With 14.8% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 58.9% 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 Springlake neighborhood, 42.4% 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 21.4% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (20.9%), and 15.3% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Springlake neighborhood is English, spoken by 94.5% of households. Some people also speak Spanish (5.5%).

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 Springlake neighborhood in Tupelo, MS, residents most commonly identify their ethnicity or ancestry as Irish (12.1%). There are also a number of people of English ancestry (12.1%), and residents who report German roots (3.5%), and some of the residents are also of Mexican ancestry (2.9%), along with some Italian ancestry residents (2.5%), 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 Springlake neighborhood spend under 15 minutes commuting one-way to work (43.9% of working residents), one of the shortest commutes across America.

Here most residents (86.7%) 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 (10.7%) . 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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