Lake Village median real estate price is $341,939, which is more expensive than 58.4% of the neighborhoods in Tennessee and 46.8% of the neighborhoods in the U.S.
The average rental price in Lake Village is currently $1,963, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 63.0% of the neighborhoods in Tennessee.
Lake Village is a suburban neighborhood (based on population density) located in Memphis, Tennessee.
Lake Village 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 Lake Village 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.
In Lake Village, the current vacancy rate is 1.3%, which is a lower rate of vacancies than 90.3% of all neighborhoods in the U.S. This means that the housing supply in Lake Village is very tight compared to the demand for property here.
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
Our research reveals that 91.7% of commuters who live in the Lake Village neighborhood get to work each day by driving alone in their automobiles, which is a higher proportion than 98.0% of U.S. neighborhoods.
Single parenting is hard. But you don't have to tell the Lake Village neighborhood about it; they already know. 19.3% of this neighborhood's households are run by single mothers, which is a higher concentration than NeighborhoodScout found in 96.6% of American neighborhoods. Further NeighborhoodScout research showed strong statistical correlations among high rates of children living in single parent households, and neighborhood crime, particularly violent crime, neighborhood poverty, and, importantly, the percentage of low weight births and rates of infant mortality.
Did you know that the Lake Village neighborhood has more Sub-Saharan African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 38.6% of this neighborhood's residents have Sub-Saharan African ancestry.
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 Village neighborhood in Memphis are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 42.5% of the neighborhoods in America. With 30.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 81.6% 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 Lake Village neighborhood, 37.7% 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 32.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (14.8%), and 14.6% in sales and service jobs, from major sales accounts, to working in fast food restaurants.
The most common language spoken in the Lake Village neighborhood is English, spoken by 91.1% of households. Some people also speak Spanish (4.4%).
Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.
In the Lake Village neighborhood in Memphis, TN, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (38.6%). There are also a number of people of African ancestry (3.5%), and residents who report Mexican roots (1.4%).
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 Village neighborhood spend between 15 and 30 minutes commuting one-way to work (57.6% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (91.7%) drive alone in a private automobile to get to work. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.