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Real Estate Prices & Overview

Lakefield median real estate price is $422,598, which is more expensive than 85.4% of the neighborhoods in Wisconsin and 63.3% of the neighborhoods in the U.S.

The average rental price in Lakefield is currently $1,873, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 82.3% of the neighborhoods in Wisconsin.

Lakefield is a suburban neighborhood (based on population density) located in Grafton, Wisconsin.

Lakefield real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Lakefield neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.

Real estate vacancies in Lakefield are 3.3%, which is lower than one will find in 79.7% of American neighborhoods. Demand for real estate in Lakefield 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

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 Lakefield neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

In addition, if you are an executive or professional seeking a neighborhood affording an executive lifestyle, or just wanting to find where other executives live in the area, the Lakefield neighborhood should be on your list. It has an enviable mix of spacious homes, relatively stable real estate values, and residents that include a number of wealthy executives, managers, and professionals. NeighborhoodScout's exclusive analysis places it as one of the top 11.5% executive lifestyle neighborhoods in the state of Wisconsin.

Diversity

Did you know that the Lakefield neighborhood has more Russian and Belgian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.7% of this neighborhood's residents have Russian ancestry and 1.1% have Belgian 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 Lakefield neighborhood in Grafton are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 78.3% 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.

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 Lakefield neighborhood, 54.2% 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 18.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (13.9%), and 13.0% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Lakefield neighborhood is English, spoken by 94.5% of households.

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 Lakefield neighborhood in Grafton, WI, residents most commonly identify their ethnicity or ancestry as German (38.8%). There are also a number of people of English ancestry (10.1%), and residents who report Irish roots (9.3%), and some of the residents are also of Norwegian ancestry (7.3%), along with some Polish ancestry residents (7.0%), 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 Lakefield neighborhood spend between 30 and 45 minutes commuting one-way to work (31.7% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (78.7%) 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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