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Real Estate Prices & Overview

Palomares Hills median real estate price is $1,495,850, which is more expensive than 82.2% of the neighborhoods in California and 96.2% of the neighborhoods in the U.S.

The average rental price in Palomares Hills is currently $4,401, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 81.6% of the neighborhoods in California.

Palomares Hills is a rural neighborhood (based on population density) located in Castro Valley, California.

Palomares Hills 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 Palomares Hills 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.

In Palomares Hills, 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 Palomares Hills is very tight compared to the demand for property here.

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.

Real Estate

This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the Palomares Hills neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.

In addition, one way that the Palomares Hills neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 95.3% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.

Furthermore, if you love row houses and attached homes, you will probably really like the Palomares Hills neighborhood. The ambiance, the charm, of row houses is something special. And in sheer abundance of row houses, this neighborhood truly stands out. The real estate here has a higher proportion of row houses and attached homes than nearly any neighborhood in America. In fact, 24.7% of the residential real estate here is classified as row houses and attached homes.

Modes of Transportation

In the Palomares Hills neighborhood, 0.9% of people ride a ferry to work each day. This is a very high percentage compared to most places. In fact, NeighborhoodScout's analysis reveals that this is a higher level of ferry ridership than in 99.0% of the neighborhoods in America.

People

Wealth makes most things in life easier, and a few things harder. If you are wealthy and enjoy keeping up with the Jones', this neighborhood will interest you. In fact, according to NeighborhoodScout's research, the Palomares Hills neighborhood is wealthier than 98.4% of the neighborhoods in the United States. Residents here are truly in a unique situation even when compared to other Americans, based on the sheer amount of wealth concentrated here. Even in times of economic downturn, residents of this neighborhood, as a group, suffered less and recovered more quickly. This is indeed a stand-out characteristic of this neighborhood.

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 Palomares Hills neighborhood has a highly unusual pattern of car ownership. Residents of this neighborhood must really love automobiles. NeighborhoodScout's Analysis reveals that 33.4% of the households here have four, five, or more cars. That is more cars per household than in 95.1% of the neighborhoods in the nation.

Diversity

Did you know that the Palomares Hills neighborhood has more Portuguese and Asian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.2% of this neighborhood's residents have Portuguese ancestry and 50.0% have Asian ancestry.

Palomares Hills is also pretty special linguistically. Significantly, 22.7% of its residents five years old and above primarily speak Chinese at home. While this may seem like a small percentage, it is higher than 99.4% 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 Palomares Hills neighborhood in Castro Valley 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 98.4% of the neighborhoods in America. With 14.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 60.6% 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 Palomares Hills neighborhood, 69.4% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 14.8% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (8.4%), and 6.9% in government jobs, whether they are in local, state, or federal positions.

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 Palomares Hills neighborhood is English, spoken by 47.1% of households. Other important languages spoken here include Chinese, Spanish and Langs. of India.

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Palomares Hills neighborhood in Castro Valley, CA, residents most commonly identify their ethnicity or ancestry as Asian (50.0%). There are also a number of people of German ancestry (7.9%), and residents who report Mexican roots (5.9%), and some of the residents are also of Portuguese ancestry (5.2%), along with some Irish ancestry residents (4.3%), among others. In addition, 37.0% of the residents of this neighborhood were born in another country.

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 Palomares Hills neighborhood spend between 15 and 30 minutes commuting one-way to work (43.3% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (70.2%) 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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