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Real Estate Prices & Overview

Forest Home median real estate price is $747,715, which is more expensive than 55.5% of the neighborhoods in New York and 82.2% of the neighborhoods in the U.S.

The average rental price in Forest Home is currently $2,041, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 72.0% of New York neighborhoods.

Forest Home is a suburban neighborhood (based on population density) located in Ithaca, New York.

Forest Home 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 renter occupied. Many of the residences in the Forest Home neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Forest Home has a 14.6% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 79.0% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.

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

Of note is NeighborhoodScout's research finding that the Forest Home neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Forest Home community truly stands out from the rest in this regard.

In addition, do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 96.8% of the adults living in the Forest Home neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 100.0% of U.S. neighborhoods. In this way, this neighborhood truly stands out.

Also, one of the really interesting characteristics about the Forest Home neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 1.2% of college-friendly places to live in the state of New York.

Modes of Transportation

In the Forest Home neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 40.0% of residents here. This is a higher proportion of walking commuters than we found in 99.6% of American neighborhoods. Get ready to put on your walking shoes if you move here!

Also, our research revealed that more commuters here take the bus to work (11.8% ride the bus) than 96.4% of all American neighborhoods. If you like the idea of leaving your car and home and hopping the bus to work, this might be a good neighborhood for you to consider.

Real Estate

97.2% of the real estate in the Forest Home neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.

Car Ownership

We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the Forest Home neighborhood has a highly unusual pattern of car ownership. 19.8% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 95.1% of U.S. neighborhoods.

Migration / Stability

Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Forest Home neighborhood. In the Forest Home neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.9% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

Diversity

Did you know that the Forest Home neighborhood has more Asian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 35.7% of this neighborhood's residents have Asian ancestry.

Forest Home is also pretty special linguistically. Significantly, 13.8% of its residents five years old and above primarily speak Chinese at home. While this may seem like a small percentage, it is higher than 98.6% 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 Forest Home neighborhood in Ithaca are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 75.3% of U.S. neighborhoods. In addition, 0.0% 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 100.0% of America's neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Forest Home neighborhood, 49.3% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 24.7% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (21.6%), and 2.6% in farming, forestry, or commercial fishing.

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 Forest Home neighborhood is English, spoken by 58.0% of households. Other important languages spoken here include Chinese, Spanish and Korean.

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 Forest Home neighborhood in Ithaca, NY, residents most commonly identify their ethnicity or ancestry as Asian (35.7%). There are also a number of people of Sub-Saharan African ancestry (6.0%), and residents who report South American roots (3.8%), and some of the residents are also of German ancestry (2.3%), along with some Irish ancestry residents (1.5%), among others. In addition, 27.4% of the residents of this neighborhood were born in another country.

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 Forest Home neighborhood spend under 15 minutes commuting one-way to work (51.3% of working residents), one of the shortest commutes across America.

Here most residents (40.0%) hop out the door and walk to work to get to work. In addition, quite a number also drive alone in a private automobile to get to work (16.0%) and 11.8% of residents also ride the bus for their daily commute. This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.

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