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Real Estate Prices & Overview

Westlake median real estate price is $799,633, which is more expensive than 86.5% of the neighborhoods in Oregon and 86.8% of the neighborhoods in the U.S.

The average rental price in Westlake is currently $3,208, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 91.5% of the neighborhoods in Oregon.

Westlake is an urban neighborhood (based on population density) located in Lake Oswego, Oregon.

Westlake 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 Westlake neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Home and apartment vacancy rates are 8.1% in Westlake. NeighborhoodScout analysis shows that this rate is lower than 49.5% of the neighborhoods in the nation, approximately near the middle range for vacancies.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

People

Of note is NeighborhoodScout's research finding that the Westlake 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 Westlake community truly stands out from the rest in this regard.

In addition, the rate of college educated adults in the Westlake neighborhood is a unique characteristic of the neighborhood. 73.1% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 33.7% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 95.5% of all U.S. neighborhoods.

Also, the Westlake neighborhood is considered a solid choice for executive lifestyles. NeighborhoodScout's analysis ranks it as better than 91.2% of Oregon 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. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for urban sophisticates.

Real Estate

Most neighborhoods are composed of a mixture of ages of homes, but the Westlake 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, 85.2% of the residential real estate here was built in this one time period.

Diversity

Did you know that the Westlake neighborhood has more Iranian and Ukrainian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.4% of this neighborhood's residents have Iranian ancestry and 3.0% have Ukrainian ancestry.

Westlake is also pretty special linguistically. Significantly, 1.9% of its residents five years old and above primarily speak Persian at home. While this may seem like a small percentage, it is higher than 99.0% 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 Westlake neighborhood in Lake Oswego 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 86.0% 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 Westlake neighborhood, 64.0% 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 18.1% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (10.8%), and 10.0% in government jobs, whether they are in local, state, or federal positions.

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 Westlake neighborhood is English, spoken by 78.2% of households. Other important languages spoken here include Chinese, Korean, Polish and Spanish.

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Westlake neighborhood in Lake Oswego, OR, residents most commonly identify their ethnicity or ancestry as German (20.9%). There are also a number of people of Asian ancestry (14.7%), and residents who report English roots (13.4%), and some of the residents are also of Irish ancestry (10.4%), along with some Italian ancestry residents (4.4%), among others. In addition, 20.5% of the residents of this neighborhood were born in another country.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Westlake neighborhood spend under 15 minutes commuting one-way to work (39.8% of working residents), one of the shortest commutes across America.

Here most residents (65.9%) 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 (6.6%) . 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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