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Real Estate Prices & Overview

Lake Purdy / Valley Pond Estates median real estate price is $923,861, which is more expensive than 73.5% of the neighborhoods in New York and 90.3% of the neighborhoods in the U.S.

The average rental price in Lake Purdy / Valley Pond Estates is currently $4,903, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 90.4% of the neighborhoods in New York.

Lake Purdy / Valley Pond Estates is a rural neighborhood (based on population density) located in Katonah, New York.

Lake Purdy / Valley Pond Estates real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Lake Purdy / Valley Pond Estates neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Real estate vacancies in Lake Purdy / Valley Pond Estates are 6.0%, which is lower than one will find in 60.0% of American neighborhoods. Demand for real estate in Lake Purdy / Valley Pond Estates is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

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 Katonah, the Lake Purdy / Valley Pond Estates neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

Wealth makes most things in life easier, and a few things harder. If you are wealthy and enjoy keeping up with the Jones', this neighborhood will interest you. In fact, according to NeighborhoodScout's research, the Lake Purdy / Valley Pond Estates neighborhood is wealthier than 99.4% of the neighborhoods in the United States. Residents here are truly in a unique situation even when compared to other Americans, based on the sheer amount of wealth concentrated here. Even in times of economic downturn, residents of this neighborhood, as a group, suffered less and recovered more quickly. This is indeed a stand-out characteristic of this neighborhood. As one would expect in a considerably wealthy neighborhood such as this, Lake Purdy / Valley Pond Estates also has one of the lowest ratings of child poverty in the nation.

In addition, according to NeighborhoodScout's exclusive analysis, Lake Purdy / Valley Pond Estates is among the best neighborhoods for families in New York. In fact, this neighborhood is more family-friendly than 99.5% of neighborhoods in the entire state of New York. Its combination of top public schools, low crime rates, and owner-occupied single family homes gives this area the look and feel of a "Leave It to Beaver" episode. Many other families also live here, making it easy to socialize and develop a strong sense of community. In addition, the high number of college-educated parents influences the academic success of the local schools. Overall, you will find all of the amenities a family needs to thrive in the Lake Purdy / Valley Pond Estates neighborhood. In addition to being an excellent choice for families with school-aged children, this neighborhood is also a very good choice for urban sophisticates, highly educated executives and active retirees.

Length of Commute

Whether walking, biking, riding, or driving, the length of one's commute is an important factor for one's quality of life. The Lake Purdy / Valley Pond Estates neighborhood stands out for its commute length, according to NeighborhoodScout's analysis. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the Lake Purdy / Valley Pond Estates neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 11.9% of commuters here travel more than one hour just one-way to work. That is more than two hours per day. This percentage with two-hour + round-trip commutes is higher than NeighborhoodScout found in 97.1% of all neighborhoods in America.

Real Estate

One way that the Lake Purdy / Valley Pond Estates neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 95.4% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.

Diversity

Did you know that the Lake Purdy / Valley Pond Estates neighborhood has more Cuban and Armenian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 9.6% of this neighborhood's residents have Cuban ancestry and 1.6% have Armenian ancestry.

Lake Purdy / Valley Pond Estates is also pretty special linguistically. Significantly, 2.7% of its residents five years old and above primarily speak Tagalog, which is the first language of the Philippine region, at home. While this may seem like a small percentage, it is higher than 95.3% 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 Lake Purdy / Valley Pond Estates neighborhood in Katonah 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 99.4% 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.

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 Lake Purdy / Valley Pond Estates neighborhood, 59.9% 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 24.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (9.8%), and 6.0% 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 Lake Purdy / Valley Pond Estates neighborhood is English, spoken by 82.1% of households. Other important languages spoken here include Spanish, Italian and Tagalog (the first language of the Philippine region).

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 Lake Purdy / Valley Pond Estates neighborhood in Katonah, NY, residents most commonly identify their ethnicity or ancestry as Italian (23.9%). There are also a number of people of Irish ancestry (12.8%), and residents who report Cuban roots (9.6%), and some of the residents are also of Asian ancestry (8.8%), along with some German ancestry residents (5.3%), among others. In addition, 17.8% 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 Lake Purdy / Valley Pond Estates neighborhood spend between 15 and 30 minutes commuting one-way to work (40.7% of working residents), which is shorter than the time spent commuting to work for most Americans. However, there is also a significant group of residents (11.9%) who commute over an hour in each direction.

Here most residents (60.0%) 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 (9.9%) and 8.9% of residents also take the train for their daily commute. 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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