East Lake median real estate price is $262,547, which is less expensive than 93.3% of Colorado neighborhoods and 69.8% of all U.S. neighborhoods.
The average rental price in East Lake is currently $1,509, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 90.6% of Colorado neighborhoods.
East Lake is an urban neighborhood (based on population density) located in Colorado Springs, Colorado.
East Lake real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the East Lake neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
In East Lake, 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 East Lake is very tight compared to the demand for property here.
Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Colorado Springs, the East Lake neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
With a real estate vacancy rate of only 0.0%, the East Lake neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.
In the East Lake neighborhood, carpooling is still a popular way to get to and from work. NeighborhoodScout's analysis reveals that 29.6% of commuters carpool here, which is more than in 98.6% of all U.S. neighborhoods.
From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the East Lake neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 95.2% of all American neighborhoods.
Did you know that the East Lake neighborhood has more French Canadian and Austrian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.9% of this neighborhood's residents have French Canadian ancestry and 1.4% have Austrian ancestry.
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 East Lake neighborhood in Colorado Springs are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 85.6% of U.S. neighborhoods. With 36.7% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 87.3% of U.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 East Lake neighborhood, 37.5% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 29.9% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (24.6%), and 8.0% in clerical, assistant, and tech support occupations.
The most common language spoken in the East Lake neighborhood is English, spoken by 87.6% of households. Some people also speak Spanish (10.8%).
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 East Lake neighborhood in Colorado Springs, CO, residents most commonly identify their ethnicity or ancestry as Mexican (26.4%). There are also a number of people of German ancestry (12.6%), and residents who report Irish roots (10.7%), and some of the residents are also of English ancestry (10.4%), along with some French Canadian ancestry residents (4.9%), among others.
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 East Lake neighborhood spend between 15 and 30 minutes commuting one-way to work (54.8% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (59.5%) 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 (29.6%) and 6.8% of residents also hop out the door and walk to work for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.