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Real Estate Prices & Overview

Red Lake median real estate price is $584,023, which is more expensive than 62.0% of the neighborhoods in Arizona and 66.8% of the neighborhoods in the U.S.

The average rental price in Red Lake is currently $2,544, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 68.4% of the neighborhoods in Arizona.

Red Lake is a remote neighborhood (based on population density) located in Parks, Arizona.

Red Lake real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and mobile homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Red Lake neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

Vacant apartments or homes are a major fact of life in Red Lake. The current real estate vacancy rate here is 35.0%. This is higher than the rate of vacancies in 96.9% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (29.2%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.

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.

People

Of note is NeighborhoodScout's research finding that the Red Lake neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Red Lake community truly stands out from the rest in this regard.

In addition, red Lake is ranked among the top 7.8% of neighborhoods for first-time home buyers to consider in the state of Arizona according to NeighborhoodScout's exclusive analysis. Homes here are priced below median housing values in the state, yet maintain moderate appreciation rates compared to other communities. Buying into the Red Lake neighborhood is not only an accessible option but an investment opportunity for many first-time home buyers. In addition to being an excellent choice for first-time home buyers, this neighborhood is also a very good choice for active retirees.

Real Estate

Uncrowded roads, rural America and space to be the individual you are. If you like these characteristics, this neighborhood may fit you. With just 5 residents per square mile, Red Lake is less crowded than 98.3% of all U.S. neighborhoods.

In addition, real estate in the Red Lake neighborhood is almost exclusively owner-occupied. NeighborhoodScout's analysis reveals that this neighborhood has a higher rate of owner-occupied housing than is found in 95.3% of U.S. neighborhoods. If you are seeking to rent, this neighborhood may not have many options, but high rates of ownership often indicate stability in a neighborhood. Vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 35.0% of the residential real estate vacant, the Red Lake neighborhood claims the distinction of having a higher vacancy rate than 96.9% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.

Diversity

Did you know that the Red Lake neighborhood has more Danish and Ukrainian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.8% of this neighborhood's residents have Danish ancestry and 2.3% have Ukrainian ancestry.

Red Lake is also pretty special linguistically. Significantly, 3.6% of its residents five years old and above primarily speak Native American languages 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 Red Lake neighborhood in Parks are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 65.2% 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 Red Lake neighborhood, 39.0% 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 20.7% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (20.6%), and 18.8% 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 Red Lake neighborhood is English, spoken by 95.3% of households. Other important languages spoken here include Native American languages, Spanish and Italian.

Ethnicity / Ancestry

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 Red Lake neighborhood in Parks, AZ, residents most commonly identify their ethnicity or ancestry as German (26.3%). There are also a number of people of English ancestry (17.7%), and residents who report Irish roots (14.1%), and some of the residents are also of Mexican ancestry (6.5%), along with some Spanish ancestry residents (4.5%), 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 Red Lake neighborhood spend between 15 and 30 minutes commuting one-way to work (46.9% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (74.0%) 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 (9.9%) . 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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