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Real Estate Prices & Overview

Springlake median real estate price is $237,230, which is more expensive than 65.3% of the neighborhoods in Mississippi and 28.4% of the neighborhoods in the U.S.

The average rental price in Springlake is currently $1,853, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 81.8% of the neighborhoods in Mississippi.

Springlake is a suburban neighborhood (based on population density) located in Tupelo, Mississippi.

Springlake 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 Springlake neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

Home and apartment vacancy rates are 8.9% in Springlake. NeighborhoodScout analysis shows that this rate is lower than 43.2% of the neighborhoods in the nation, approximately near the middle range for vacancies.

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 Tupelo, the Springlake neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

If you are an executive or professional seeking a neighborhood affording an executive lifestyle, or just wanting to find where other executives live in the area, the Springlake neighborhood should be on your list. It has an enviable mix of spacious homes, relatively stable real estate values, and residents that include a number of wealthy executives, managers, and professionals. NeighborhoodScout's exclusive analysis places it as one of the top 14.9% executive lifestyle neighborhoods in the state of Mississippi.

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 Springlake neighborhood in Tupelo are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 65.1% of U.S. neighborhoods. With 24.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 74.6% of U.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 Springlake neighborhood, 43.4% 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 23.5% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (16.6%), and 16.5% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Springlake neighborhood is English, spoken by 94.2% of households. Some people also speak Spanish (5.8%).

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 Springlake neighborhood in Tupelo, MS, residents most commonly identify their ethnicity or ancestry as English (13.5%). There are also a number of people of Irish ancestry (13.3%), and residents who report German roots (8.4%), and some of the residents are also of Mexican ancestry (3.3%), along with some Scots-Irish ancestry residents (2.2%), 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 Springlake neighborhood spend under 15 minutes commuting one-way to work (44.0% of working residents), one of the shortest commutes across America.

Here most residents (85.1%) 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 (11.8%) . 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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