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Real Estate Prices & Overview

Lakewood Heights median real estate price is $916,138, which is more expensive than 93.7% of the neighborhoods in Texas and 86.4% of the neighborhoods in the U.S.

The average rental price in Lakewood Heights is currently $3,308, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 92.7% of the neighborhoods in Texas.

Lakewood Heights is an urban neighborhood (based on population density) located in Dallas, Texas.

Lakewood Heights real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and townhomes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Lakewood Heights neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.

In Lakewood Heights, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Lakewood Heights is very tight compared to the demand for property here.

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 Dallas, the Lakewood Heights neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the Lakewood Heights neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.

Modes of Transportation

In the Lakewood Heights neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 36.6% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 99.6% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.

People

If you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the Lakewood Heights neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 98.8% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the Lakewood Heights neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for highly educated executives.

In addition, the rate of college educated adults in the Lakewood Heights neighborhood is a unique characteristic of the neighborhood. 74.2% 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 95.9% of all U.S. neighborhoods.

Diversity

Did you know that the Lakewood Heights neighborhood has more Lebanese and Arab ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 7.4% of this neighborhood's residents have Lebanese ancestry and 7.4% have Arab ancestry.

Lakewood Heights is also pretty special linguistically. Significantly, 0.8% of its residents five years old and above primarily speak Greek at home. While this may seem like a small percentage, it is higher than 95.8% 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 Lakewood Heights neighborhood in Dallas 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 89.5% of the neighborhoods in America. In addition, 3.9% 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 68.9% 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 Lakewood Heights neighborhood, 67.3% 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 26.5% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (5.7%).

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 Lakewood Heights neighborhood is English, spoken by 93.7% of households. Other important languages spoken here include Italian, Spanish and Polish.

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 Lakewood Heights neighborhood in Dallas, TX, residents most commonly identify their ethnicity or ancestry as English (23.4%). There are also a number of people of German ancestry (19.3%), and residents who report Irish roots (19.2%), and some of the residents are also of Arab ancestry (7.4%), along with some Lebanese ancestry residents (7.4%), 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 Lakewood Heights neighborhood spend between 15 and 30 minutes commuting one-way to work (36.0% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (59.1%) drive alone in a private automobile to get to work. 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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