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Real Estate Prices & Overview

Old Farm Lakes / Oakridge median real estate price is $327,214, which is more expensive than 55.9% of the neighborhoods in Illinois and 42.6% of the neighborhoods in the U.S.

The average rental price in Old Farm Lakes / Oakridge is currently $1,369, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 75.5% of Illinois neighborhoods.

Old Farm Lakes / Oakridge is a suburban neighborhood (based on population density) located in Bloomington, Illinois.

Old Farm Lakes / Oakridge real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Old Farm Lakes / Oakridge neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Real estate vacancies in Old Farm Lakes / Oakridge are 4.5%, which is lower than one will find in 67.4% of American neighborhoods. Demand for real estate in Old Farm Lakes / Oakridge 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.

Notable & Unique Neighborhood Characteristics

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 Bloomington, the Old Farm Lakes / Oakridge neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

The Old Farm Lakes / Oakridge neighborhood is considered a solid choice for executive lifestyles. NeighborhoodScout's analysis ranks it as better than 94.2% of Illinois neighborhoods for executive living, based on the wealthy, educated professionals, executives, and managers who choose to reside here, the spacious homes that are prominent features of the real estate in the neighborhood, and the high real estate appreciation rates found here relative to other neighborhoods in the state.

Diversity

Did you know that the Old Farm Lakes / Oakridge neighborhood has more Irish and Danish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 28.2% of this neighborhood's residents have Irish ancestry and 3.0% have Danish ancestry.

Old Farm Lakes / Oakridge is also pretty special linguistically. Significantly, 8.3% of its residents five years old and above primarily speak Langs. of India at home. While this may seem like a small percentage, it is higher than 98.9% 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 Old Farm Lakes / Oakridge neighborhood in Bloomington are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 78.4% of the neighborhoods in America. With 11.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 54.2% 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 Old Farm Lakes / Oakridge neighborhood, 56.7% 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 17.8% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (15.0%), and 10.5% 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 Old Farm Lakes / Oakridge neighborhood is English, spoken by 85.7% of households. Other important languages spoken here include Langs. of India and Spanish.

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 Old Farm Lakes / Oakridge neighborhood in Bloomington, IL, residents most commonly identify their ethnicity or ancestry as Irish (28.2%). There are also a number of people of German ancestry (21.9%), and residents who report English roots (11.7%), and some of the residents are also of Asian ancestry (9.4%), along with some Arab ancestry residents (3.1%), among others. In addition, 10.9% 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 Old Farm Lakes / Oakridge neighborhood spend under 15 minutes commuting one-way to work (54.5% of working residents), one of the shortest commutes across America.

Here most residents (68.5%) 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 (6.0%) . 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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