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Real Estate Prices & Overview

Madison Park West median real estate price is $603,002, which is more expensive than 89.4% of the neighborhoods in North Carolina and 77.5% of the neighborhoods in the U.S.

The average rental price in Madison Park West is currently $3,322, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 97.0% of the neighborhoods in North Carolina.

Madison Park West is a suburban neighborhood (based on population density) located in Charlotte, North Carolina.

Madison Park West 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 occupied by a mixture of owners and renters. Many of the residences in the Madison Park West neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 2000 and the present.

In Madison Park West, the current vacancy rate is 1.3%, which is a lower rate of vacancies than 90.4% of all neighborhoods in the U.S. This means that the housing supply in Madison Park West 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 Charlotte, the Madison Park West 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 Madison Park West 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 Madison Park West community truly stands out from the rest in this regard.

In addition, the rate of college educated adults in the Madison Park West neighborhood is a unique characteristic of the neighborhood. 73.3% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 34.3% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 95.4% of all U.S. neighborhoods.

Also, the Madison Park West neighborhood is considered a solid choice for executive lifestyles. NeighborhoodScout's analysis ranks it as better than 90.5% of North Carolina neighborhoods for executive living, based on the wealthy, educated professionals, executives, and managers who choose to reside here, the spacious homes that are prominent features of the real estate in the neighborhood, and the high real estate appreciation rates found here relative to other neighborhoods in the state.

Occupations

Executives, managers and professionals make up 77.3% of the workforce in the Madison Park West neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 98.4% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.

Diversity

Did you know that the Madison Park West neighborhood has more English and British ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 33.4% of this neighborhood's residents have English ancestry and 3.3% have British ancestry.

Madison Park West is also pretty special linguistically. Significantly, 2.2% 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 99.3% of the neighborhoods in America.

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 Madison Park West neighborhood in Charlotte 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 86.4% 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.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Madison Park West neighborhood, 77.3% 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 8.7% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (8.5%), and 5.5% in manufacturing and laborer occupations.

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 Madison Park West neighborhood is English, spoken by 87.6% of households. Other important languages spoken here include Spanish, Polish and Greek.

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 Madison Park West neighborhood in Charlotte, NC, residents most commonly identify their ethnicity or ancestry as English (33.4%). There are also a number of people of Irish ancestry (15.8%), and residents who report German roots (9.6%), and some of the residents are also of Sub-Saharan African ancestry (6.2%), along with some African ancestry residents (6.2%), among others. In addition, 12.8% of the residents of this neighborhood were born in another country.

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 Madison Park West neighborhood spend between 15 and 30 minutes commuting one-way to work (41.4% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (75.3%) 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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