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Real Estate Prices & Overview

Spence Creek / Five Oaks median real estate price is $571,419, which is more expensive than 90.1% of the neighborhoods in Tennessee and 76.4% of the neighborhoods in the U.S.

The average rental price in Spence Creek / Five Oaks is currently $2,499, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 81.0% of the neighborhoods in Tennessee.

Spence Creek / Five Oaks is a suburban neighborhood (based on population density) located in Lebanon, Tennessee.

Spence Creek / Five Oaks real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and mobile homes. Most of the residential real estate is owner occupied. Many of the residences in the Spence Creek / Five Oaks neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

Real estate vacancies in Spence Creek / Five Oaks are 3.7%, which is lower than one will find in 76.9% of American neighborhoods. Demand for real estate in Spence Creek / Five Oaks 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

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.

Real Estate

Homes built from 2000 through today make up a higher proportion of the Spence Creek / Five Oaks neighborhood's real estate landscape than 97.0% of the neighborhoods in America. When you are driving around this neighborhood, you'll notice right away that it is one of the newest built of any, with the smell of fresh paint, and the look of young landscaping nearly everywhere you look. In fact, 75.9% of the residential real estate here is classified as newer.

In addition, owner-occupied real estate dominates the Spence Creek / Five Oaks neighborhood. In fact, according to NeighborhoodScout research, the percentage of residential real estate occupied by its owner is higher here than in 97.0% of neighborhoods in America.

People

The Spence Creek / Five Oaks neighborhood is considered a solid choice for executive lifestyles. NeighborhoodScout's analysis ranks it as better than 93.5% of Tennessee 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 families with school-aged children and urban sophisticates.

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 Spence Creek / Five Oaks neighborhood in Lebanon 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 85.7% of the neighborhoods in America. In addition, 5.5% 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 63.7% 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 Spence Creek / Five Oaks neighborhood, 48.8% 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 20.8% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (17.3%), and 13.1% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Spence Creek / Five Oaks neighborhood is English, spoken by 98.4% of households. Some people also speak Italian (2.8%).

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 Spence Creek / Five Oaks neighborhood in Lebanon, TN, residents most commonly identify their ethnicity or ancestry as Irish (19.1%). There are also a number of people of English ancestry (12.4%), and residents who report German roots (9.8%), and some of the residents are also of Scottish ancestry (2.9%), along with some Italian ancestry residents (2.4%), 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 Spence Creek / Five Oaks neighborhood spend between 30 and 45 minutes commuting one-way to work (34.5% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (73.4%) 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 (16.2%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


Real Estate includes:
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Economics & Demographics include:
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Crime includes:
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Schools include:
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