Magnolia Lakes median real estate price is $431,466, which is more expensive than 50.0% of the neighborhoods in Florida and 58.6% of the neighborhoods in the U.S.
The average rental price in Magnolia Lakes is currently $3,050, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 66.0% of the neighborhoods in Florida.
Magnolia Lakes is a suburban neighborhood (based on population density) located in Melbourne, Florida.
Magnolia Lakes real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and mobile homes. Most of the residential real estate is owner occupied. Many of the residences in the Magnolia Lakes neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
Real estate vacancies in Magnolia Lakes are 4.7%, which is lower than one will find in 68.9% of American neighborhoods. Demand for real estate in Magnolia Lakes 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.
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.
Astoundingly, the Magnolia Lakes neighborhood has one of the highest concentrations of divorcees living here than of any neighborhood, a higher concentration than NeighborhoodScout found in 95.9% of U.S. neighborhoods. This may be because people living here divorce more often than others, or that divorced people move here after they become divorced. If you are divorced, you will be in good company in this particular Melbourne neighborhood.
Did you know that the Magnolia Lakes neighborhood has more Cuban and English ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.2% of this neighborhood's residents have Cuban ancestry and 20.7% have English ancestry.
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 Magnolia Lakes neighborhood in Melbourne are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 55.8% of the neighborhoods in America. With 12.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 55.2% 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 Magnolia Lakes neighborhood, 35.9% 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 29.8% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (24.7%), and 9.6% in clerical, assistant, and tech support occupations.
The most common language spoken in the Magnolia Lakes neighborhood is English, spoken by 84.8% of households. Some people also speak Spanish (11.8%).
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 Magnolia Lakes neighborhood in Melbourne, FL, residents most commonly identify their ethnicity or ancestry as English (20.7%). There are also a number of people of Irish ancestry (16.2%), and residents who report German roots (14.5%), and some of the residents are also of Italian ancestry (7.5%), along with some Puerto Rican ancestry residents (7.1%), 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 Magnolia Lakes neighborhood spend between 15 and 30 minutes commuting one-way to work (52.6% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (78.7%) 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 (12.0%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.