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Real Estate Prices & Overview

Fernwood median real estate price is $404,116, which is more expensive than 83.9% of the neighborhoods in Wisconsin and 61.4% of the neighborhoods in the U.S.

The average rental price in Fernwood is currently $1,798, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 77.7% of the neighborhoods in Wisconsin.

Fernwood is an urban neighborhood (based on population density) located in Milwaukee, Wisconsin.

Fernwood real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and small apartment buildings. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Fernwood neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1940 and 1969.

Real estate vacancies in Fernwood are 3.4%, which is lower than one will find in 78.5% of American neighborhoods. Demand for real estate in Fernwood 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 Fernwood neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

Real Estate

Three-deckers, duplexes, old Victorian homes cut up into apartments. Independent stores on the corner selling pizza. These are some of the hallmarks of neighborhoods with lots of small 2, 3, and 4 unit apartment buildings. The Fernwood neighborhood really stands out in this regard, however, as it is dominated by such small apartment buildings more than nearly any other neighborhood in America. This is a stunning visual and lifestyle example of this type of neighborhood. In fact, 34.6% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 95.8% of America's neighborhoods.

In addition, if you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 73.2% of the residential real estate in the Fernwood neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 99.0% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

Diversity

Did you know that the Fernwood neighborhood has more Lithuanian and Eastern European ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.4% of this neighborhood's residents have Lithuanian ancestry and 3.7% have Eastern European ancestry.

Fernwood is also pretty special linguistically. Significantly, 16.0% of its residents five years old and above primarily speak Polish at home. While this may seem like a small percentage, it is higher than 99.5% 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 Fernwood neighborhood in Milwaukee are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 66.1% 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 Fernwood neighborhood, 56.0% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 16.8% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (15.8%), and 11.5% 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 Fernwood neighborhood is English, spoken by 93.2% of households. Other important languages spoken here include Polish and Spanish.

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 Fernwood neighborhood in Milwaukee, WI, residents most commonly identify their ethnicity or ancestry as German (36.5%). There are also a number of people of Irish ancestry (15.1%), and residents who report Polish roots (12.4%), and some of the residents are also of Italian ancestry (6.6%), along with some Mexican ancestry residents (6.6%), 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 Fernwood neighborhood spend between 15 and 30 minutes commuting one-way to work (57.9% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (73.8%) 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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