Spence Creek / Five Oaks median real estate price is $544,912, which is more expensive than 90.2% of the neighborhoods in Tennessee and 76.7% of the neighborhoods in the U.S.
The average rental price in Spence Creek / Five Oaks is currently $2,434, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 81.6% 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.
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.
If you like the look and ambience of new homes and newly built neighborhoods, you will love the Spence Creek / Five Oaks neighborhood. A whopping 75.9% of the homes and other residential real estate here were built after 1999, which is a higher proportion of new homes then you will find in 97.0% of the neighborhoods in the U.S. Everything here just feels new.
In addition, real estate in the Spence Creek / Five Oaks neighborhood is almost exclusively owner-occupied. NeighborhoodScout's analysis reveals that this neighborhood has a higher rate of owner-occupied housing than is found in 97.0% of U.S. neighborhoods. If you are seeking to rent, this neighborhood may not have many options, but high rates of ownership often indicate stability in a neighborhood.
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.
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.
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 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.
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%).
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 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.
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 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.