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Real Estate Prices & Overview

Lake Road median real estate price is $538,752, which is more expensive than 63.1% of the neighborhoods in Oregon and 74.9% of the neighborhoods in the U.S.

The average rental price in Lake Road is currently $2,524, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 68.3% of the neighborhoods in Oregon.

Lake Road is a suburban neighborhood (based on population density) located in Milwaukie, Oregon.

Lake Road 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 Lake Road 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 Lake Road, the current vacancy rate is 2.9%, which is a lower rate of vacancies than 82.1% of all neighborhoods in the U.S. This means that the housing supply in Lake Road is very tight compared to the demand for property here.

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.

Diversity

Did you know that the Lake Road neighborhood has more Welsh and Scots-Irish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.9% of this neighborhood's residents have Welsh ancestry and 3.7% have Scots-Irish ancestry.

Lake Road is also pretty special linguistically. Significantly, 0.6% of its residents five years old and above primarily speak Japanese at home. While this may seem like a small percentage, it is higher than 95.0% of the neighborhoods in America.

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 Lake Road neighborhood in Milwaukie are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 54.2% of the neighborhoods in America. In addition, 2.6% 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 73.2% of America's neighborhoods.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the Lake Road neighborhood, 53.0% 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 22.1% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (16.5%), and 10.1% in government jobs, whether they are in local, state, or federal positions.

Languages

The most common language spoken in the Lake Road neighborhood is English, spoken by 91.3% of households. Some people also speak Spanish (6.4%).

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 Lake Road neighborhood in Milwaukie, OR, residents most commonly identify their ethnicity or ancestry as German (17.5%). There are also a number of people of English ancestry (10.8%), and residents who report Irish roots (7.8%), and some of the residents are also of Mexican ancestry (5.6%), along with some Scottish ancestry residents (4.8%), among others.

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 Lake Road neighborhood spend between 15 and 30 minutes commuting one-way to work (37.8% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (68.3%) 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 (13.4%) . 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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