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Real Estate Prices & Overview

Preston Smith median real estate price is $168,192, which is less expensive than 81.5% of Texas neighborhoods and 86.6% of all U.S. neighborhoods.

The average rental price in Preston Smith is currently $1,967, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 63.9% of the neighborhoods in Texas.

Preston Smith is an urban neighborhood (based on population density) located in Lubbock, Texas.

Preston Smith real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Preston Smith neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Real estate vacancies in Preston Smith are 5.5%, which is lower than one will find in 60.5% of American neighborhoods. Demand for real estate in Preston Smith is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

Notable & Unique Neighborhood Characteristics

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.

Modes of Transportation

While most Americans do drive to work alone each day, the Preston Smith neighborhood stands out by having 92.4% of commuters doing so, which is a higher proportion of people driving alone to work than NeighborhoodScout found in 99.1% of all American neighborhoods.

Occupations

The Preston Smith neighborhood has a greater proportion of government workers living in it than 98.1% of the neighborhoods in America, according to NeighborhoodScout's exclusive analysis. This is a unique feature of this neighborhood, and one that shapes its character.

People

NeighborhoodScout's analysis shows that the Preston Smith neighborhood has a greater concentration of residents currently enrolled in college than 97.3% of the neighborhoods in the U.S. With 16.1% of the population here attending college, this is very much a college-focused neighborhood.

In addition, with a nice mix of college students, safety from crime, and decent walkability, the Preston Smith neighborhood rates highly as a college student friendly place to live, and one that college students and their parents may want to consider. NeighborhoodScout's analysis shows that it rates more highly for a good place for college students to live than 86.7% of the neighborhoods in TX. This often also means that the area has certain amenities and services geared towards college students, from undergraduates to graduate students.

Real Estate

Most neighborhoods are composed of a mixture of ages of homes, but the Preston Smith stands out as rather unique in having nearly all of its residential real estate built in one time period, namely between 1970 and 1999, generally considered to be established, but not old housing. What you'll sense when you look around or drive the streets of this neighborhood is that many of the residences look the same because of this similarity of age. In fact, 84.7% of the residential real estate here was built in this one time period.

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 Preston Smith neighborhood in Lubbock are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 86.0% of U.S. neighborhoods. With 26.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 78.2% 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 Preston Smith neighborhood, 31.7% 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 28.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (28.1%), and 16.8% in government jobs, whether they are in local, state, or federal positions.

Languages

The most common language spoken in the Preston Smith neighborhood is English, spoken by 72.9% of households. Some people also speak Spanish (22.6%).

Ethnicity / Ancestry

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 Preston Smith neighborhood in Lubbock, TX, residents most commonly identify their ethnicity or ancestry as Mexican (19.7%). There are also a number of people of English ancestry (9.4%), and residents who report Asian roots (7.3%), and some of the residents are also of German ancestry (6.8%), along with some Irish ancestry residents (5.7%), among others. In addition, 14.1% 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 Preston Smith neighborhood spend between 15 and 30 minutes commuting one-way to work (49.6% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (92.4%) 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.

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