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Real Estate Prices & Overview

Lower Peters Canyon median real estate price is $1,311,722, which is more expensive than 76.9% of the neighborhoods in California and 94.9% of the neighborhoods in the U.S.

The average rental price in Lower Peters Canyon is currently $3,878, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 71.2% of the neighborhoods in California.

Lower Peters Canyon is an urban neighborhood (based on population density) located in Irvine, California.

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

In Lower Peters Canyon, 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 Lower Peters Canyon is very tight compared to the demand for property here.

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.

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 Lower Peters Canyon 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, if you like the look and ambience of new homes and newly built neighborhoods, you will love the Lower Peters Canyon neighborhood. A whopping 88.5% of the homes and other residential real estate here were built after 1999, which is a higher proportion of new homes then you will find in 98.3% of the neighborhoods in the U.S. Everything here just feels new. In fact, the concentration of newer homes here is so great that they completely dominate the landscape. In most neighborhoods, there is a mixture of ages of residential real estate, but here it is almost completely built during one time frame: 2000 through today.

Furthermore, many people dream of living along a street lined with row houses or other attached homes. Such places do often have an abundance of charm. If you are one of these people, the Lower Peters Canyon neighborhood could be your paradise. With 25.5% of the homes and real estate here classified as rowhouses or other attached homes, this neighborhood brims with opportunity to find the right place for you. Only 4.5% of U.S. neighborhoods have more row houses than this neighborhood, making it one of the most interesting things about this special neighborhood.

Occupations

The Lower Peters Canyon neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 97.6% of the neighborhoods in America. In fact, 75.8% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.

People

Some neighborhoods have residents that are more educated than others. But in this neighborhood there is a dramatic difference. NeighborhoodScout's exclusive analysis reveals that 38.9% of the adults here have earned a Masters degree, medical degree, Ph.D. or law degree. This is a higher rate of people with a graduate degree than is found in 96.4% of U.S. neighborhoods, where the average American neighborhood has 14.1% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.

Diversity

Did you know that the Lower Peters Canyon neighborhood has more Asian and Arab ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 52.5% of this neighborhood's residents have Asian ancestry and 4.5% have Arab ancestry.

Lower Peters Canyon is also pretty special linguistically. Significantly, 17.0% 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 99.0% of the neighborhoods in America.

The Neighbors

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 Lower Peters Canyon neighborhood in Irvine 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 94.6% of the neighborhoods in America. In addition, 3.4% 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 69.3% of America's neighborhoods.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the Lower Peters Canyon neighborhood, 75.8% 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 9.5% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (8.3%), and 6.4% 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 Lower Peters Canyon neighborhood is English, spoken by 48.7% of households. Other important languages spoken here include Chinese, Langs. of India, Korean and Vietnamese.

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 Lower Peters Canyon neighborhood in Irvine, CA, residents most commonly identify their ethnicity or ancestry as Asian (52.5%). There are also a number of people of Arab ancestry (4.5%), and residents who report English roots (4.3%), and some of the residents are also of Irish ancestry (3.2%), along with some Mexican ancestry residents (3.1%), among others. In addition, 39.0% 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 Lower Peters Canyon neighborhood spend between 15 and 30 minutes commuting one-way to work (63.3% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (71.6%) 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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