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Real Estate Prices & Overview

Lake Dr SE / Gladstone Dr SE median real estate price is $690,129, which is more expensive than 94.9% of the neighborhoods in Michigan and 77.3% of the neighborhoods in the U.S.

The average rental price in Lake Dr SE / Gladstone Dr SE is currently $1,849, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 68.5% 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 small apartment buildings. 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.

In Lake Dr SE / Gladstone Dr SE, the current vacancy rate is 2.9%, which is a lower rate of vacancies than 81.1% of all neighborhoods in the U.S. This means that the housing supply in Lake Dr SE / Gladstone Dr SE 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.

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 99.9% 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. 81.1% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 34.3% 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, wealth makes most things in life easier, and a few things harder. If you are wealthy and enjoy keeping up with the Jones', this neighborhood will interest you. In fact, according to NeighborhoodScout's research, the Lake Dr SE / Gladstone Dr SE neighborhood is wealthier than 95.6% of the neighborhoods in the United States. Residents here are truly in a unique situation even when compared to other Americans, based on the sheer amount of wealth concentrated here. Even in times of economic downturn, residents of this neighborhood, as a group, suffered less and recovered more quickly. This is indeed a stand-out characteristic of this neighborhood.

Real Estate

Owner-occupied real estate dominates the Lake Dr SE / Gladstone Dr SE neighborhood. In fact, according to NeighborhoodScout research, the percentage of residential real estate occupied by its owner is higher here than in 95.1% of neighborhoods in America.

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, 6.2% of this neighborhood's residents have Welsh ancestry and 3.5% 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

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 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 95.6% of the neighborhoods in America. In addition, 2.1% 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 74.9% 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 Lake Dr SE / Gladstone Dr SE neighborhood, 65.5% 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 14.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (10.7%), and 9.4% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Lake Dr SE / Gladstone Dr SE neighborhood is English, spoken by 97.1% of households. Some people also speak Italian (9.8%).

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Lake Dr SE / Gladstone Dr SE neighborhood in East Grand Rapids, MI, residents most commonly identify their ethnicity or ancestry as German (20.6%). There are also a number of people of Irish ancestry (19.4%), and residents who report English roots (13.1%), and some of the residents are also of Polish ancestry (8.5%), along with some Dutch ancestry residents (8.3%), among others.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Lake Dr SE / Gladstone Dr SE neighborhood spend under 15 minutes commuting one-way to work (47.5% of working residents), one of the shortest commutes across America.

Here most residents (67.8%) 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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