Lake Royale median real estate price is $374,031, which is more expensive than 61.4% of the neighborhoods in North Carolina and 50.4% of the neighborhoods in the U.S.
The average rental price in Lake Royale is currently $1,935, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 61.0% of the neighborhoods in North Carolina.
Lake Royale is a rural neighborhood (based on population density) located in Louisburg, North Carolina.
Lake Royale real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and mobile homes. Most of the residential real estate is owner occupied. Many of the residences in the Lake Royale neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.
Vacant apartments or homes are a major fact of life in Lake Royale. The current real estate vacancy rate here is 31.4%. This is higher than the rate of vacancies in 95.6% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (22.8%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.
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 Louisburg, the Lake Royale neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Our research reveals that 93.0% of commuters who live in the Lake Royale neighborhood get to work each day by driving alone in their automobiles, which is a higher proportion than 99.0% of U.S. neighborhoods.
Owner-occupied real estate dominates the Lake Royale neighborhood. In fact, according to NeighborhoodScout research, the percentage of residential real estate occupied by its owner is higher here than in 98.1% of neighborhoods in America. Despite all of the residential real estate here in the Lake Royale neighborhood, NeighborhoodScout has discovered that much of it is vacant. In resort or second-home vacation areas, this naturally occurs because homes and apartments are seasonally occupied, and empty for a portion of the year. In non-vacation or resort areas, however, this can be an indicator of property abandonment or a weak real estate market. The vacancy rate here is 31.4%, which is higher than 95.6% of all U.S. neighborhoods.
Astoundingly, NeighborhoodScout's research reveals that this single neighborhood has a higher concentration of married couples living here than 97.1% of all U.S. neighborhoods. Whether they have school-aged children or not, married couples are the rule in the Lake Royale neighborhood. If you are a married couple, you may find many people here with a similar lifestyle, and perhaps common interests. But if you are single, you might not find many other singles here.
In addition, the Lake Royale neighborhood is a great option for families, as revealed by NeighborhoodScout's research on this neighborhood. The combination of top public schools, low crime rates, and owner-occupied single family homes, make this neighborhood among the top 8.8% of family-friendly neighborhoods in the state of North Carolina. Many other families also live here, making it easy to socialize and develop a sense of community. In addition, families here highly value education, as is reflected by the strength of the local schools.
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 Royale neighborhood in Louisburg are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 59.8% of the neighborhoods in America. In addition, 4.3% 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 66.4% 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 Royale neighborhood, 38.4% 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 33.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (21.0%), and 6.7% in sales and service jobs, from major sales accounts, to working in fast food restaurants.
The most common language spoken in the Lake Royale neighborhood is English, spoken by 97.0% of households. Some people also speak Spanish (3.0%).
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 Lake Royale neighborhood in Louisburg, NC, residents most commonly identify their ethnicity or ancestry as German (22.0%). There are also a number of people of English ancestry (16.2%), and residents who report Irish roots (8.5%), and some of the residents are also of Italian ancestry (4.9%), along with some Scottish ancestry residents (4.7%), among others.
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 Royale neighborhood spend between 45 minutes and one hour commuting one-way to work (43.9% of working residents), longer and tougher than most commutes in America.
Here most residents (93.0%) 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 (5.3%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.