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Real Estate Prices & Overview

Mercer Island Town median real estate price is $917,928, which is more expensive than 60.8% of the neighborhoods in Washington and 79.7% of the neighborhoods in the U.S.

The average rental price in Mercer Island Town is currently $3,853, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 88.3% of the neighborhoods in Washington.

Mercer Island Town is an urban neighborhood (based on population density) located in Mercer Island, Washington.

Mercer Island Town real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Mercer Island Town 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.

Mercer Island Town has a 11.1% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 66.3% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.

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 Mercer Island, the Mercer Island Town neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Modes of Transportation

More people ride the bus in this neighborhood each day to get to work than 97.3% of U.S. neighborhoods.

Also, a unique way of commuting is simply not to. And in the Mercer Island Town neighborhood, analysis shows that 28.0% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 95.7% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.

Real Estate

The real estate in the Mercer Island Town neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 83.6% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 97.2% of American neighborhoods.

In addition, the Mercer Island Town neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 84.3% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.

People

The types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 50.0%. This is a higher percent living alone than we found in 95.6% of all U.S. neighborhoods. Often residents who live alone are new arrivals to an area who are single, and often senior citizens who have lost a spouse.

Diversity

Did you know that the Mercer Island Town neighborhood has more Lithuanian and British ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.4% of this neighborhood's residents have Lithuanian ancestry and 3.6% have British ancestry.

Mercer Island Town is also pretty special linguistically. Significantly, 13.2% of its residents five years old and above primarily speak Chinese at home. While this may seem like a small percentage, it is higher than 98.5% of the neighborhoods in America.

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 Mercer Island Town neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 96.8% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

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 Mercer Island Town neighborhood in Mercer Island are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 75.3% of the neighborhoods in America. With 15.7% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 61.4% 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 Mercer Island Town neighborhood, 61.8% 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 22.0% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (13.0%), and 3.5% in government jobs, whether they are in local, state, or federal positions.

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 Mercer Island Town neighborhood is English, spoken by 68.7% of households. Other important languages spoken here include Chinese, Spanish and Korean.

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the Mercer Island Town neighborhood in Mercer Island, WA, residents most commonly identify their ethnicity or ancestry as Asian (20.8%). There are also a number of people of English ancestry (15.0%), and residents who report German roots (11.3%), and some of the residents are also of Irish ancestry (10.8%), along with some Italian ancestry residents (5.8%), among others. In addition, 29.9% 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 Mercer Island Town neighborhood spend between 15 and 30 minutes commuting one-way to work (41.4% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (47.6%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (14.9%) . 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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