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Real Estate Prices & Overview

Bear Canyon / Academy Park median real estate price is $421,170, which is more expensive than 79.1% of the neighborhoods in New Mexico and 60.0% of the neighborhoods in the U.S.

The average rental price in Bear Canyon / Academy Park is currently $1,986, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 78.8% of the neighborhoods in New Mexico.

Bear Canyon / Academy Park is a suburban neighborhood (based on population density) located in Albuquerque, New Mexico.

Bear Canyon / Academy Park 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 Bear Canyon / Academy Park neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

In Bear Canyon / Academy Park, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Bear Canyon / Academy Park is very tight compared to the demand for property here.

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.

Real Estate

This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the Bear Canyon / Academy Park neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.

In addition, most neighborhoods are composed of a mixture of ages of homes, but the Bear Canyon / Academy Park stands out as rather unique in having nearly all of its residential real estate built in one time period, namely between 1970 and 1999, generally considered to be established, but not old housing. What you'll sense when you look around or drive the streets of this neighborhood is that many of the residences look the same because of this similarity of age. In fact, 95.7% of the residential real estate here was built in this one time period.

People

Astoundingly, the Bear Canyon / Academy Park neighborhood has one of the highest concentrations of divorcees living here than of any neighborhood, a higher concentration than NeighborhoodScout found in 95.7% of U.S. neighborhoods. This may be because people living here divorce more often than others, or that divorced people move here after they become divorced. If you are divorced, you will be in good company in this particular Albuquerque neighborhood.

In addition, the Bear Canyon / Academy Park neighborhood is considered a solid choice for executive lifestyles. NeighborhoodScout's analysis ranks it as better than 93.3% of New Mexico 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.

Diversity

Did you know that the Bear Canyon / Academy Park neighborhood has more Canadian and Czechoslovakian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.5% of this neighborhood's residents have Canadian ancestry and 1.2% have Czechoslovakian 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 Bear Canyon / Academy Park neighborhood in Albuquerque are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 44.0% of the neighborhoods in America. In addition, 1.9% 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 75.4% 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 Bear Canyon / Academy Park neighborhood, 63.6% 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 25.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (8.9%), and 6.2% in government jobs, whether they are in local, state, or federal positions.

Languages

The most common language spoken in the Bear Canyon / Academy Park neighborhood is English, spoken by 90.8% of households. Some people also speak Spanish (7.9%).

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 Bear Canyon / Academy Park neighborhood in Albuquerque, NM, residents most commonly identify their ethnicity or ancestry as English (20.3%). There are also a number of people of Mexican ancestry (16.2%), and residents who report Irish roots (14.0%), and some of the residents are also of German ancestry (13.3%), along with some Spanish ancestry residents (8.7%), 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 Bear Canyon / Academy Park neighborhood spend between 15 and 30 minutes commuting one-way to work (53.9% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (82.0%) 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 (7.5%) . 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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