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Real Estate Prices & Overview

South Lake Union West median real estate price is $660,626, which is more expensive than 62.2% of the neighborhoods in Washington and 80.7% of the neighborhoods in the U.S.

The average rental price in South Lake Union West is currently $3,837, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 89.9% of the neighborhoods in Washington.

South Lake Union West is a densely urban neighborhood (based on population density) located in Seattle, Washington.

South Lake Union West 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 small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the South Lake Union West neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

South Lake Union West has a 10.6% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 62.7% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.

Notable & Unique Neighborhood Characteristics

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

People

In a nation where 1 out of every 4 children lives in poverty, the South Lake Union West neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

In addition, one of the most interesting things about the South Lake Union West neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 70.3% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 99.7% of the neighborhoods in America.

Also, do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 75.3% of the adults living in the South Lake Union West neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 96.3% of U.S. neighborhoods. In this way, this neighborhood truly stands out.

Modes of Transportation

More people in South Lake Union West choose to walk to work each day (51.7%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.

Also, in the South Lake Union West neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 29.4% 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 98.5% 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.

Real Estate

If you like the look and ambience of new homes and newly built neighborhoods, you will love the South Lake Union West neighborhood. A whopping 92.7% of the homes and other residential real estate here were built after 1999, which is a higher proportion of new homes then you will find in 99.2% of the neighborhoods in the U.S. Everything here just feels new. In fact, the concentration of newer homes here is so great that they completely dominate the landscape. In most neighborhoods, there is a mixture of ages of residential real estate, but here it is almost completely built during one time frame: 2000 through today.

In addition, the real estate in the South Lake Union West neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 96.0% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 99.2% of American neighborhoods.

Furthermore, the South Lake Union West neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 92.6% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.

Also of note, 89.7% of the real estate in the South Lake Union West neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.

Car Ownership

We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the South Lake Union West neighborhood has a highly unusual pattern of car ownership. 35.4% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.8% of U.S. neighborhoods.

Diversity

Did you know that the South Lake Union West neighborhood has more Ukrainian and Asian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 6.7% of this neighborhood's residents have Ukrainian ancestry and 36.4% have Asian ancestry.

South Lake Union West is also pretty special linguistically. Significantly, 7.0% of its residents five years old and above primarily speak Langs. of India at home. While this may seem like a small percentage, it is higher than 98.4% of the neighborhoods in America.

Migration / Stability

The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. In the South Lake Union West neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 97.5% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

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 South Lake Union West neighborhood in Seattle 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 89.3% 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.

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 South Lake Union West neighborhood, 58.3% 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 14.3% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (14.1%), and 13.3% 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 South Lake Union West neighborhood is English, spoken by 63.7% of households. Other important languages spoken here include Chinese and Langs. of India.

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 South Lake Union West neighborhood in Seattle, WA, residents most commonly identify their ethnicity or ancestry as Asian (36.4%). There are also a number of people of English ancestry (16.0%), and residents who report Irish roots (8.4%), and some of the residents are also of Ukrainian ancestry (6.7%), along with some German ancestry residents (6.7%), among others. In addition, 36.7% of the residents of this neighborhood were born in another country.

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 South Lake Union West neighborhood spend between 15 and 30 minutes commuting one-way to work (39.5% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (51.7%) hop out the door and walk to work to get to work. In addition, quite a number also ride the bus to get to work (10.4%) . This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.


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