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Real Estate Prices & Overview

Southborough median real estate price is $209,953, which is less expensive than 93.5% of Colorado neighborhoods and 75.0% of all U.S. neighborhoods.

The average rental price in Southborough is currently $1,954, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 77.4% of Colorado neighborhoods.

Southborough is an urban neighborhood (based on population density) located in Colorado Springs, Colorado.

Southborough 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 Southborough 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.

In Southborough, 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 Southborough 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 Colorado Springs, the Southborough 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 Southborough 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, most neighborhoods are composed of a mixture of ages of homes, but the Southborough 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, 95.1% of the residential real estate here was built in this one time period.

Occupations

The Southborough neighborhood stands out nationally for having a greater proportion of its residents active in the military than 98.2% of other U.S. neighborhoods. If you come here, you will notice military people active in their jobs, going to and from work, and in plain clothes out and about the neighborhood.

Furthermore, more people work in manufacturing and as laborers here in the Southborough neighborhood than in 95.6% of the neighborhoods in America. Despite the loss of manufacturing jobs across the nation, this neighborhood remains a place where, compared to other parts of the country, you will find many laborers and manufacturers.

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 Southborough neighborhood in Colorado Springs are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 63.1% of U.S. neighborhoods. With 19.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 67.8% 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 Southborough neighborhood, 42.3% 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 23.2% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (20.5%), and 14.0% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

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 Southborough neighborhood is English, spoken by 61.2% of households. Other important languages spoken here include Spanish and Italian.

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 Southborough neighborhood in Colorado Springs, CO, residents most commonly identify their ethnicity or ancestry as Mexican (40.4%). There are also a number of people of German ancestry (4.1%), and residents who report English roots (4.1%), and some of the residents are also of Italian ancestry (3.9%), along with some Jamaican ancestry residents (2.3%), among others. In addition, 23.2% 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 Southborough neighborhood spend between 15 and 30 minutes commuting one-way to work (66.7% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (82.3%) 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 (12.2%) . 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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