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Real Estate Prices & Overview

Twin Lakes West median real estate price is $609,820, which is more expensive than 55.8% of the neighborhoods in Washington and 77.4% of the neighborhoods in the U.S.

The average rental price in Twin Lakes West is currently $2,229, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 60.5% of Washington neighborhoods.

Twin Lakes West is a suburban neighborhood (based on population density) located in Federal Way, Washington. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).

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

Real estate vacancies in Twin Lakes West are 4.3%, which is lower than one will find in 71.4% of American neighborhoods. Demand for real estate in Twin Lakes West 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.

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.

Real Estate

Do you like a coastal setting? If so, this neighborhood may be to your liking. The Twin Lakes West neighborhood is on the ocean, a bay, or inlet. Often such coastal places have amenities and recreational activities on the waterfront that are attractive to residents and visitors alike. In addition to being coastal, Twin Lakes West is a very nautical neighborhood, meaning that it is somewhat historic, walkable, densely populated and on the water. This gives the neighborhood a very nautical feel, with some seaside and shipping feel, which some may really enjoy the sights and sounds of.

Diversity

Did you know that the Twin Lakes West neighborhood has more Armenian and Ukrainian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.3% of this neighborhood's residents have Armenian ancestry and 2.2% have Ukrainian ancestry.

Twin Lakes West is also pretty special linguistically. Significantly, 4.7% of its residents five years old and above primarily speak Korean at home. While this may seem like a small percentage, it is higher than 98.8% 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 Twin Lakes West neighborhood in Federal Way are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 82.8% of the neighborhoods in America. In addition, 4.5% 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 66.2% 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 Twin Lakes West neighborhood, 45.0% 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 20.9% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (18.0%), and 16.1% 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 Twin Lakes West neighborhood is English, spoken by 73.8% of households. Other important languages spoken here include Spanish and Korean.

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 Twin Lakes West neighborhood in Federal Way, WA, residents most commonly identify their ethnicity or ancestry as Asian (13.1%). There are also a number of people of Irish ancestry (12.4%), and residents who report English roots (10.6%), and some of the residents are also of German ancestry (10.4%), along with some Mexican ancestry residents (5.7%), among others. In addition, 16.1% 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 Twin Lakes West neighborhood spend between 30 and 45 minutes commuting one-way to work (31.9% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (75.7%) 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 (7.1%) . 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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