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Real Estate Prices & Overview

Waterford East median real estate price is $220,979, which is more expensive than 40.3% of the neighborhoods in Michigan and 25.0% of the neighborhoods in the U.S.

The average rental price in Waterford East is currently $1,408, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 70.8% of Michigan neighborhoods.

Waterford East is a suburban neighborhood (based on population density) located in Waterford, Michigan.

Waterford East real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Waterford East 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 Waterford East are 3.6%, which is lower than one will find in 76.1% of American neighborhoods. Demand for real estate in Waterford East 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 Waterford, the Waterford East neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

Astoundingly, the Waterford East neighborhood has one of the highest concentrations of divorcees living here than of any neighborhood, a higher concentration than NeighborhoodScout found in 99.0% 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 Waterford neighborhood.

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 Waterford East neighborhood in Waterford are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 91.3% of U.S. neighborhoods. With 22.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 72.3% 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 Waterford East neighborhood, 40.7% 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 22.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (19.2%), and 18.0% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

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 Waterford East neighborhood is English, spoken by 87.1% of households. Other important languages spoken here include Spanish and Polish.

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 Waterford East neighborhood in Waterford, MI, residents most commonly identify their ethnicity or ancestry as English (13.2%). There are also a number of people of German ancestry (10.3%), and residents who report Mexican roots (9.2%), and some of the residents are also of Irish ancestry (5.1%), along with some Polish ancestry residents (4.3%), 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 Waterford East neighborhood spend between 15 and 30 minutes commuting one-way to work (43.9% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (83.9%) 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 (10.8%) . 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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