Five Mile Prairie median real estate price is $539,789, which is more expensive than 53.5% of the neighborhoods in Washington and 76.3% of the neighborhoods in the U.S.
The average rental price in Five Mile Prairie is currently $3,560, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 84.7% of the neighborhoods in Washington.
Five Mile Prairie is a suburban neighborhood (based on population density) located in Spokane, Washington.
Five Mile Prairie real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Five Mile Prairie neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
In Five Mile Prairie, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Five Mile Prairie is very tight compared to the demand for property here.
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.
With a real estate vacancy rate of only 0.0%, the Five Mile Prairie neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.
In addition, homes built from 2000 through today make up a higher proportion of the Five Mile Prairie neighborhood's real estate landscape than 95.6% of the neighborhoods in America. When you are driving around this neighborhood, you'll notice right away that it is one of the newest built of any, with the smell of fresh paint, and the look of young landscaping nearly everywhere you look. In fact, 67.3% of the residential real estate here is classified as newer.
Astoundingly, NeighborhoodScout's research reveals that this single neighborhood has a higher concentration of married couples living here than 98.2% of all U.S. neighborhoods. Whether they have school-aged children or not, married couples are the rule in the Five Mile Prairie neighborhood. If you are a married couple, you may find many people here with a similar lifestyle, and perhaps common interests. But if you are single, you might not find many other singles here.
In addition, a majority of the adults in the Five Mile Prairie neighborhood are wealthy and educated executives. They own stately homes that tend to maintain high real estate appreciation rates. Their upper-level careers keep them busy, but allow them to live comfortably. If you're an executive and want to keep similar company, consider settling in this neighborhood, rated as an executive lifestyle "best choice" neighborhood for Washington by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 97.5% of the neighborhoods in Washington. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for families with school-aged children and college students.
Did you know that the Five Mile Prairie neighborhood has more Ukrainian and Haitian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.6% of this neighborhood's residents have Ukrainian ancestry and 2.6% have Haitian ancestry.
How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.
The neighbors in the Five Mile Prairie neighborhood in Spokane 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 85.3% of the neighborhoods in America. With 15.9% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 60.9% of U.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 Five Mile Prairie neighborhood, 52.4% 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 21.8% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (19.1%), and 6.3% in government jobs, whether they are in local, state, or federal positions.
The most common language spoken in the Five Mile Prairie neighborhood is English, spoken by 91.6% of households.
Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.
In the Five Mile Prairie neighborhood in Spokane, WA, residents most commonly identify their ethnicity or ancestry as Irish (14.9%). There are also a number of people of German ancestry (14.8%), and residents who report Italian roots (7.5%), and some of the residents are also of English ancestry (6.3%), along with some Mexican ancestry residents (3.5%), among others.
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 Five Mile Prairie neighborhood spend between 15 and 30 minutes commuting one-way to work (49.4% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (79.7%) 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 (10.1%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.