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Real Estate Prices & Overview

Lakemont median real estate price is $2,023,328, which is more expensive than 98.2% of the neighborhoods in Washington and 98.3% of the neighborhoods in the U.S.

The average rental price in Lakemont is currently $4,266, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 93.6% of the neighborhoods in Washington.

Lakemont is a suburban neighborhood (based on population density) located in Bellevue, Washington.

Lakemont real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Lakemont 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.

Real estate vacancies in Lakemont are 3.6%, which is lower than one will find in 76.4% of American neighborhoods. Demand for real estate in Lakemont 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.

People

If you are an executive or professional seeking a neighborhood affording an executive lifestyle, or just wanting to find where other executives live in the area, the Lakemont neighborhood should be on your list. It has an enviable mix of spacious homes, relatively stable real estate values, and residents that include a number of wealthy executives, managers, and professionals. NeighborhoodScout's exclusive analysis places it as one of the top 11.9% executive lifestyle neighborhoods in the state of Washington.

Diversity

Did you know that the Lakemont neighborhood has more Asian and Armenian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 35.1% of this neighborhood's residents have Asian ancestry and 0.9% have Armenian ancestry.

Lakemont is also pretty special linguistically. Significantly, 12.6% of its residents five years old and above primarily speak Korean at home. While this may seem like a small percentage, it is higher than 99.8% 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 Lakemont neighborhood in Bellevue 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 91.3% of the neighborhoods in America. With 15.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 60.7% 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 Lakemont neighborhood, 59.2% 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 17.8% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (11.9%), and 11.1% in clerical, assistant, and tech support occupations.

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 Lakemont neighborhood is English, spoken by 67.5% of households. Other important languages spoken here include Korean, Chinese, Langs. of India and Vietnamese.

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 Lakemont neighborhood in Bellevue, WA, residents most commonly identify their ethnicity or ancestry as Asian (35.1%). There are also a number of people of English ancestry (9.0%), and residents who report German roots (7.4%), and some of the residents are also of Mexican ancestry (5.7%), along with some Italian ancestry residents (4.5%), among others. In addition, 30.0% 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 Lakemont neighborhood spend between 15 and 30 minutes commuting one-way to work (51.4% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (59.5%) 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 (9.7%) and 8.6% of residents also ride the bus for their daily commute. 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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