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Real Estate Prices & Overview

Forest Lakes / Homemont median real estate price is $615,076, which is more expensive than 78.2% of the neighborhoods in Virginia and 80.6% of the neighborhoods in the U.S.

The average rental price in Forest Lakes / Homemont is currently $4,529, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 97.4% of the neighborhoods in Virginia.

Forest Lakes / Homemont is a suburban neighborhood (based on population density) located in Chesapeake, Virginia.

Forest Lakes / Homemont real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes. Most of the residential real estate is owner occupied. Many of the residences in the Forest Lakes / Homemont neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Home and apartment vacancy rates are 9.4% in Forest Lakes / Homemont. NeighborhoodScout analysis shows that this rate is lower than 42.7% of the neighborhoods in the nation, approximately near the middle range for vacancies.

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 Chesapeake, the Forest Lakes / Homemont neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

According to NeighborhoodScout's exclusive analysis, Forest Lakes / Homemont is among the best neighborhoods for families in Virginia. In fact, this neighborhood is more family-friendly than 99.7% of neighborhoods in the entire state of Virginia. Its combination of top public schools, low crime rates, and owner-occupied single family homes gives this area the look and feel of a "Leave It to Beaver" episode. Many other families also live here, making it easy to socialize and develop a strong sense of community. In addition, the high number of college-educated parents influences the academic success of the local schools. Overall, you will find all of the amenities a family needs to thrive in the Forest Lakes / Homemont neighborhood. In addition to being an excellent choice for families with school-aged children, this neighborhood is also a very good choice for college students.

In addition, if you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 4.9% of America's neighborhoods are wealthier than the Forest Lakes / Homemont neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe.

Real Estate

The Forest Lakes / Homemont neighborhood has earned the amazing distinction of having one of the highest rates of detached, single-family homes of any neighborhood in the U.S. With 100.0% of the residential real estate here made up of free-standing single-family homes, there is a greater proportion of single-family homes here than in 98.5% of all neighborhoods in America.

Diversity

Did you know that the Forest Lakes / Homemont neighborhood has more Scots-Irish and Canadian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.7% of this neighborhood's residents have Scots-Irish ancestry and 1.2% have Canadian ancestry.

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 Forest Lakes / Homemont neighborhood in Chesapeake 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 95.1% of the neighborhoods in America. In addition, 3.2% 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 71.4% 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 Forest Lakes / Homemont neighborhood, 46.8% 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 31.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (15.9%), and 9.0% in government jobs, whether they are in local, state, or federal positions.

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 Forest Lakes / Homemont neighborhood is English, spoken by 86.8% of households. Other important languages spoken here include 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 Forest Lakes / Homemont neighborhood in Chesapeake, VA, residents most commonly identify their ethnicity or ancestry as German (18.9%). There are also a number of people of English ancestry (10.1%), and residents who report Irish roots (7.6%), and some of the residents are also of Scots-Irish ancestry (5.7%), along with some Italian ancestry residents (4.8%), 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 Forest Lakes / Homemont neighborhood spend between 15 and 30 minutes commuting one-way to work (53.4% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (79.4%) 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 (10.1%) . 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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