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Real Estate Prices & Overview

Lynnwood median real estate price is $1,014,075, which is more expensive than 94.9% of the neighborhoods in Virginia and 93.4% of the neighborhoods in the U.S.

The average rental price in Lynnwood is currently $4,811, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 98.4% of the neighborhoods in Virginia.

Lynnwood is a suburban neighborhood (based on population density) located in Virginia Beach, Virginia.

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

In Lynnwood, the current vacancy rate is 2.2%, which is a lower rate of vacancies than 86.1% of all neighborhoods in the U.S. This means that the housing supply in Lynnwood 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 Virginia Beach, the Lynnwood neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

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 1.4% of America's neighborhoods are wealthier than the Lynnwood 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. As one would expect in a considerably wealthy neighborhood such as this, Lynnwood also has one of the lowest ratings of child poverty in the nation.

In addition, priests and therapists would like to think they know the secrets to a truly successful marriage, but according to NeighborhoodScout's research, the folks of the Lynnwood neighborhood may actually hold the key. 77.0% of its residents are married, which is a higher percentage than is found in 99.6% of the neighborhoods in America.

Also, according to NeighborhoodScout's exclusive analysis, Lynnwood is among the best neighborhoods for families in Virginia. In fact, this neighborhood is more family-friendly than 96.2% 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 Lynnwood neighborhood. In addition to being an excellent choice for families with school-aged children, this neighborhood is also a very good choice for active retirees, highly educated executives and urban sophisticates.

Finally, some neighborhoods have residents that are more educated than others. But in this neighborhood there is a dramatic difference. NeighborhoodScout's exclusive analysis reveals that 36.3% of the adults here have earned a Masters degree, medical degree, Ph.D. or law degree. This is a higher rate of people with a graduate degree than is found in 95.8% of U.S. neighborhoods, where the average American neighborhood has 13.1% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.

Real Estate

One way that the Lynnwood neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 99.6% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.

Diversity

Did you know that the Lynnwood neighborhood has more Belgian and Lithuanian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.8% of this neighborhood's residents have Belgian ancestry and 1.3% have Lithuanian 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 Lynnwood neighborhood in Virginia Beach 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 98.6% of the neighborhoods in America. In addition, 0.0% 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 100.0% 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 Lynnwood neighborhood, 67.2% 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 20.8% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (6.6%), and 5.4% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Lynnwood neighborhood is English, spoken by 89.7% of households. Some people also speak Spanish (7.6%).

Ethnicity / Ancestry

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 Lynnwood neighborhood in Virginia Beach, VA, residents most commonly identify their ethnicity or ancestry as English (16.3%). There are also a number of people of Irish ancestry (16.3%), and residents who report German roots (13.2%), and some of the residents are also of Italian ancestry (9.2%), along with some South American ancestry residents (5.8%), among others.

Getting to Work

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 Lynnwood neighborhood spend between 15 and 30 minutes commuting one-way to work (64.4% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (85.7%) 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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