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Real Estate Prices & Overview

Lake Lucerne median real estate price is $656,209, which is more expensive than 88.4% of the neighborhoods in Ohio and 70.2% of the neighborhoods in the U.S.

The average rental price in Lake Lucerne is currently $5,573, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 100.0% of the neighborhoods in Ohio.

Lake Lucerne is a rural neighborhood (based on population density) located in Chagrin Falls, Ohio.

Lake Lucerne real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Lake Lucerne neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

In Lake Lucerne, the current vacancy rate is 1.0%, which is a lower rate of vacancies than 91.5% of all neighborhoods in the U.S. This means that the housing supply in Lake Lucerne is very tight compared to the demand for property here.

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 Chagrin Falls, the Lake Lucerne neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

If you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the Lake Lucerne neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 95.6% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the Lake Lucerne neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for highly educated executives and active retirees.

Diversity

Did you know that the Lake Lucerne neighborhood has more Hungarian and Slovak ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.2% of this neighborhood's residents have Hungarian ancestry and 2.2% have Slovak ancestry.

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 Lake Lucerne neighborhood in Chagrin Falls 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 89.6% of the neighborhoods in America. In addition, 7.3% 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 57.9% of America'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 Lake Lucerne neighborhood, 69.0% 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 22.2% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (5.5%), and 3.3% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Lake Lucerne neighborhood is English, spoken by 94.8% of households. Some people also speak Polish (3.8%).

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 Lake Lucerne neighborhood in Chagrin Falls, OH, residents most commonly identify their ethnicity or ancestry as German (29.1%). There are also a number of people of English ancestry (20.4%), and residents who report Irish roots (15.7%), and some of the residents are also of Italian ancestry (10.6%), along with some Polish ancestry residents (8.2%), 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 Lake Lucerne neighborhood spend between 30 and 45 minutes commuting one-way to work (38.7% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (72.3%) 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 (6.7%) . 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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