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Real Estate Prices & Overview

SE Loop 338 E / Lone Star Dr median real estate price is $418,620, which is more expensive than 71.0% of the neighborhoods in Texas and 55.8% of the neighborhoods in the U.S.

The average rental price in SE Loop 338 E / Lone Star Dr is currently $1,586, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 65.1% of Texas neighborhoods.

SE Loop 338 E / Lone Star Dr is a remote neighborhood (based on population density) located in Odessa, Texas.

SE Loop 338 E / Lone Star Dr real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and mobile homes. Most of the residential real estate is owner occupied. Many of the residences in the SE Loop 338 E / Lone Star Dr neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

In SE Loop 338 E / Lone Star Dr, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in SE Loop 338 E / Lone Star Dr 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 Odessa, the SE Loop 338 E / Lone Star Dr neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the SE Loop 338 E / Lone Star Dr neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.

In addition, the real estate in this neighborhood consists of more mobile homes than 96.7% of all neighborhoods in America, with 35.1% of the occupied housing here being classified as mobile homes. So if you are looking for a mobile home, or you like the look and feel of mobile home parks, this neighborhood might have the setting you desire.

Furthermore, if you like the look and ambience of new homes and newly built neighborhoods, you will love the SE Loop 338 E / Lone Star Dr neighborhood. A whopping 69.6% of the homes and other residential real estate here were built after 1999, which is a higher proportion of new homes then you will find in 95.7% of the neighborhoods in the U.S. Everything here just feels new.

Occupations

NeighborhoodScout's exclusive research identifies the SE Loop 338 E / Lone Star Dr neighborhood as having one of the highest concentrations of people employed in manufacturing or as laborers of any neighborhood in America. In fact, despite the loss of manufacturing jobs nationally, this neighborhood has 76.4% of its working residents employed in such fields, which is a higher proportion than 100.0% of American neighborhoods.

People

Of particular note, 17.0% of the people in the SE Loop 338 E / Lone Star Dr neighborhood currently reside in a correction facility, held due to punishment for a crime.

In addition, the SE Loop 338 E / Lone Star Dr neighborhood is unique for having just 3.1% of adults here having earned a bachelor's degree. This is a lower rate of college graduates than NeighborhoodScout found in 98.3% of America's neighborhoods.

Diversity

Did you know that the SE Loop 338 E / Lone Star Dr neighborhood has more Scots-Irish and Scottish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 7.4% of this neighborhood's residents have Scots-Irish ancestry and 8.5% have Scottish ancestry.

SE Loop 338 E / Lone Star Dr is also pretty special linguistically. Significantly, 69.2% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 97.3% of all U.S. neighborhoods.

Migration / Stability

The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. In the SE Loop 338 E / Lone Star Dr neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.1% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

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 SE Loop 338 E / Lone Star Dr neighborhood in Odessa are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 55.8% of the neighborhoods in America. With 35.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 86.1% 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 SE Loop 338 E / Lone Star Dr neighborhood, 76.4% of the working population is employed in manufacturing and laborer occupations. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 10.0% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (9.3%), and 4.4% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the SE Loop 338 E / Lone Star Dr neighborhood is Spanish, spoken by 69.2% of households. Some people also speak English (29.6%).

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 SE Loop 338 E / Lone Star Dr neighborhood in Odessa, TX, residents most commonly identify their ethnicity or ancestry as Mexican (70.1%). There are also a number of people of Scottish ancestry (8.5%), and residents who report Scots-Irish roots (7.4%), and some of the residents are also of German ancestry (2.8%), along with some Irish ancestry residents (2.4%), among others. In addition, 25.5% 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 SE Loop 338 E / Lone Star Dr neighborhood spend between 15 and 30 minutes commuting one-way to work (44.1% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (75.0%) 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 (12.3%) . 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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