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Real Estate Prices & Overview

Lake Dr SE / Gladstone Dr SE median real estate price is $728,846, which is more expensive than 94.7% of the neighborhoods in Michigan and 78.0% of the neighborhoods in the U.S.

The average rental price in Lake Dr SE / Gladstone Dr SE is currently $2,607, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 90.3% of the neighborhoods in Michigan.

Lake Dr SE / Gladstone Dr SE is a suburban neighborhood (based on population density) located in East Grand Rapids, Michigan.

Lake Dr SE / Gladstone Dr SE 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 Lake Dr SE / Gladstone Dr SE neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1940 and 1969.

Real estate vacancies in Lake Dr SE / Gladstone Dr SE are 3.2%, which is lower than one will find in 77.4% of American neighborhoods. Demand for real estate in Lake Dr SE / Gladstone Dr SE 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 East Grand Rapids, the Lake Dr SE / Gladstone Dr SE neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

A majority of the adults in the Lake Dr SE / Gladstone Dr SE neighborhood are wealthy and educated executives. They own stately homes that tend to maintain high real estate appreciation rates. Their upper-level careers keep them busy, but allow them to live comfortably. If you're an executive and want to keep similar company, consider settling in this neighborhood, rated as an executive lifestyle "best choice" neighborhood for Michigan by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 100.0% of the neighborhoods in Michigan. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for urban sophisticates.

In addition, the rate of college educated adults in the Lake Dr SE / Gladstone Dr SE neighborhood is a unique characteristic of the neighborhood. 81.7% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 35.0% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 98.2% of all U.S. neighborhoods.

Also, priests and therapists would like to think they know the secrets to a truly successful marriage, but according to NeighborhoodScout's research, the folks of the Lake Dr SE / Gladstone Dr SE neighborhood may actually hold the key. 71.8% of its residents are married, which is a higher percentage than is found in 97.6% of the neighborhoods in America.

Finally, if you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 3.7% of America's neighborhoods are wealthier than the Lake Dr SE / Gladstone Dr SE neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe.

Real Estate

The Lake Dr SE / Gladstone Dr SE neighborhood has earned the amazing distinction of having one of the highest rates of detached, single-family homes of any neighborhood in the U.S. With 97.9% of the residential real estate here made up of free-standing single-family homes, there is a greater proportion of single-family homes here than in 96.1% of all neighborhoods in America.

In addition, real estate in the Lake Dr SE / Gladstone Dr SE neighborhood is almost exclusively owner-occupied. NeighborhoodScout's analysis reveals that this neighborhood has a higher rate of owner-occupied housing than is found in 95.3% of U.S. neighborhoods. If you are seeking to rent, this neighborhood may not have many options, but high rates of ownership often indicate stability in a neighborhood.

Occupations

The Lake Dr SE / Gladstone Dr SE neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 96.0% of the neighborhoods in America. In fact, 71.9% 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.

Diversity

Did you know that the Lake Dr SE / Gladstone Dr SE neighborhood has more Welsh and Finnish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.9% of this neighborhood's residents have Welsh ancestry and 4.1% have Finnish ancestry.

Lake Dr SE / Gladstone Dr SE is also pretty special linguistically. Significantly, 9.8% of its residents five years old and above primarily speak Italian at home. While this may seem like a small percentage, it is higher than 97.8% 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 Lake Dr SE / Gladstone Dr SE neighborhood in East Grand Rapids 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 96.3% of the neighborhoods in America. In addition, 5.0% 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 63.9% of America'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 Lake Dr SE / Gladstone Dr SE neighborhood, 71.9% 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 12.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (9.9%), and 6.1% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Lake Dr SE / Gladstone Dr SE neighborhood is English, spoken by 97.0% of households. Some people also speak Italian (9.8%).

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 Lake Dr SE / Gladstone Dr SE neighborhood in East Grand Rapids, MI, residents most commonly identify their ethnicity or ancestry as German (18.6%). There are also a number of people of Irish ancestry (15.0%), and residents who report English roots (14.6%), and some of the residents are also of Dutch ancestry (10.0%), along with some Polish ancestry residents (6.6%), among others.

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 Lake Dr SE / Gladstone Dr SE neighborhood spend under 15 minutes commuting one-way to work (47.9% of working residents), one of the shortest commutes across America.

Here most residents (66.3%) 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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