Lake Mendota Dr / University Bay Dr median real estate price is $689,203, which is more expensive than 96.8% of the neighborhoods in Wisconsin and 79.2% of the neighborhoods in the U.S.
The average rental price in Lake Mendota Dr / University Bay Dr is currently $1,679, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 72.3% of the neighborhoods in Wisconsin.
Lake Mendota Dr / University Bay Dr is a suburban neighborhood (based on population density) located in Madison, Wisconsin.
Lake Mendota Dr / University Bay Dr 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 small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Lake Mendota Dr / University Bay Dr neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
In Lake Mendota Dr / University Bay Dr, the current vacancy rate is 2.4%, which is a lower rate of vacancies than 82.2% of all neighborhoods in the U.S. This means that the housing supply in Lake Mendota Dr / University Bay Dr 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.
Some neighborhoods have residents that are more educated than others. But in this neighborhood there is a dramatic difference. NeighborhoodScout's exclusive analysis reveals that 72.7% of the adults here have earned a Masters degree, medical degree, Ph.D. or law degree. This is a higher rate of people with a graduate degree than is found in 100.0% of U.S. neighborhoods, where the average American neighborhood has 14.1% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.
More people ride the bus in this neighborhood each day to get to work than 100.0% of U.S. neighborhoods.
Also, would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the Lake Mendota Dr / University Bay Dr neighborhood is a fantastic option for bicycle commuters, as 10.4% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 99.7% of the neighborhoods in America.
Finally, more people in Lake Mendota Dr / University Bay Dr choose to walk to work each day (12.6%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.
The Lake Mendota Dr / University Bay Dr 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 96.3% 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.
In addition, 96.0% of the real estate in the Lake Mendota Dr / University Bay Dr neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
Furthermore, corner bodegas, stores on the first floor and apartments above, former grand Victorian residences converted into apartments, three-deckers built shoulder-to-shoulder, duplexes. Such building types define the real estate of neighborhoods dominated by small 2, 3, and 4 unit apartment buildings. Many are in older core neighborhoods of Eastern and Midwestern cities, or historic town centers in their hinterlands. If you wax romantic about the look and feel of such neighborhoods, with fresh pizza, falafel and an independent florist at the corner, then you might find the Lake Mendota Dr / University Bay Dr neighborhood worth a close look. This neighborhood is an absolutely outstanding example of the dominance of small 2, 3, and 4 unit apartment buildings compared to neighborhoods across the nation, as they make up a substantial portion of this neighborhood's real estate stock. In fact, no less than 33.6% of the real estate here is made up of such dwellings, which is higher than 95.8% of all U.S. neighborhoods.
Executives, managers and professionals make up 80.4% of the workforce in the Lake Mendota Dr / University Bay Dr neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 99.0% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the Lake Mendota Dr / University Bay Dr neighborhood has a highly unusual pattern of car ownership. 40.8% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.1% of U.S. neighborhoods.
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 Lake Mendota Dr / University Bay Dr neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.3% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas. What is also interesting to note, is that the Lake Mendota Dr / University Bay Dr neighborhood has a greater percentage of residents born in another country (67.3%) than are found in 99.6% of all U.S. neighborhoods.
Did you know that the Lake Mendota Dr / University Bay Dr neighborhood has more Iranian and Arab ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.6% of this neighborhood's residents have Iranian ancestry and 5.0% have Arab ancestry.
Lake Mendota Dr / University Bay Dr is also pretty special linguistically. Significantly, 3.7% of its residents five years old and above primarily speak Persian at home. While this may seem like a small percentage, it is higher than 99.7% of the neighborhoods in America.
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 Mendota Dr / University Bay Dr neighborhood in Madison are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 91.6% of U.S. neighborhoods. With 18.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 67.3% 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 Lake Mendota Dr / University Bay Dr neighborhood, 80.4% 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 7.8% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (6.4%), and 5.4% 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 Lake Mendota Dr / University Bay Dr neighborhood is English, spoken by 44.9% of households. Other important languages spoken here include Chinese, Langs. of India, Persian and African languages.
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 Lake Mendota Dr / University Bay Dr neighborhood in Madison, WI, residents most commonly identify their ethnicity or ancestry as Asian (36.3%). There are also a number of people of Sub-Saharan African ancestry (5.9%), and residents who report Italian roots (5.6%), and some of the residents are also of Arab ancestry (5.0%), along with some Irania ancestry residents (4.6%), among others. In addition, 67.3% of the residents of this neighborhood were born in another country.
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 Lake Mendota Dr / University Bay Dr neighborhood spend between 15 and 30 minutes commuting one-way to work (62.7% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (46.8%) ride the bus to get to work. In addition, quite a number also hop out the door and walk to work to get to work (12.6%) and 10.4% of residents also bicycle for their daily commute. The bus provides a valuable service in the Lake Mendota Dr / University Bay Dr neighborhood of Madison by getting a lot of residents to and from work daily, reducing the costs of commuting and reducing some congestion on the roads as well.
