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Real Estate Prices & Overview

Fairmont Park median real estate price is $335,993, which is more expensive than 63.2% of the neighborhoods in Texas and 48.2% of the neighborhoods in the U.S.

The average rental price in Fairmont Park is currently $1,537, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 66.3% of Texas neighborhoods.

Fairmont Park is a suburban neighborhood (based on population density) located in Midland, Texas.

Fairmont Park real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Fairmont Park neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.

In Fairmont Park, the current vacancy rate is 1.6%, which is a lower rate of vacancies than 89.0% of all neighborhoods in the U.S. This means that the housing supply in Fairmont Park 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.

Modes of Transportation

In the Fairmont Park neighborhood, carpooling is still a popular way to get to and from work. NeighborhoodScout's analysis reveals that 31.5% of commuters carpool here, which is more than in 99.1% of all U.S. neighborhoods.

Real Estate

Most neighborhoods are composed of a mixture of ages of homes, but the Fairmont Park 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, 80.6% of the residential real estate here was built in this one time period.

Migration / Stability

Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Fairmont Park neighborhood. In the Fairmont Park neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 97.2% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

Diversity

Did you know that the Fairmont Park neighborhood has more Jamaican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.5% of this neighborhood's residents have Jamaican ancestry.

Fairmont Park is also pretty special linguistically. Significantly, 13.8% of its residents five years old and above primarily speak Mon-Khmer, which is the dominant language of Cambodia, at home. While this may seem like a small percentage, it is higher than 100.0% 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 Fairmont Park neighborhood in Midland are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 61.3% of U.S. neighborhoods. With 34.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 84.9% of U.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 Fairmont Park neighborhood, 49.2% 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 23.5% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (22.9%), and 4.3% in clerical, assistant, and tech support occupations.

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 Fairmont Park neighborhood is English, spoken by 61.8% of households. Other important languages spoken here include Spanish, Mon-Khmer (the dominant language of Cambodia) and Vietnamese.

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 Fairmont Park neighborhood in Midland, TX, residents most commonly identify their ethnicity or ancestry as Mexican (41.1%). There are also a number of people of Asian ancestry (22.3%), and residents who report English roots (5.9%), and some of the residents are also of Jamaican ancestry (3.5%), along with some Italian ancestry residents (2.7%), among others. In addition, 20.1% of the residents of this neighborhood were born in another country.

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 Fairmont Park neighborhood spend under 15 minutes commuting one-way to work (54.5% of working residents), one of the shortest commutes across America.

Here most residents (65.4%) 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 (31.5%) . 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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