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Real Estate Prices & Overview

Colchester Lakewood / Lakewood Pointe Estates median real estate price is $411,009, which is more expensive than 87.4% of the neighborhoods in Iowa and 54.7% of the neighborhoods in the U.S.

The average rental price in Colchester Lakewood / Lakewood Pointe Estates is currently $1,302, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 62.0% of the neighborhoods in Iowa.

Colchester Lakewood / Lakewood Pointe Estates is a rural neighborhood (based on population density) located in Norwalk, Iowa.

Colchester Lakewood / Lakewood Pointe Estates real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Colchester Lakewood / Lakewood Pointe Estates neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

Real estate vacancies in Colchester Lakewood / Lakewood Pointe Estates are 3.2%, which is lower than one will find in 78.8% of American neighborhoods. Demand for real estate in Colchester Lakewood / Lakewood Pointe Estates 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

The Colchester Lakewood / Lakewood Pointe Estates neighborhood is considered a solid choice for executive lifestyles. NeighborhoodScout's analysis ranks it as better than 90.6% of Iowa neighborhoods for executive living, based on the wealthy, educated professionals, executives, and managers who choose to reside here, the spacious homes that are prominent features of the real estate in the neighborhood, and the high real estate appreciation rates found here relative to other neighborhoods in the state.

Diversity

Did you know that the Colchester Lakewood / Lakewood Pointe Estates neighborhood has more German and Norwegian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 36.5% of this neighborhood's residents have German ancestry and 6.0% have Norwegian ancestry.

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 Colchester Lakewood / Lakewood Pointe Estates neighborhood in Norwalk are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 70.6% of the neighborhoods in America. In addition, 0.7% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 79.7% of America'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 Colchester Lakewood / Lakewood Pointe Estates neighborhood, 48.7% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 19.6% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (18.9%), and 12.3% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Colchester Lakewood / Lakewood Pointe Estates neighborhood is English, spoken by 99.3% of households.

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 Colchester Lakewood / Lakewood Pointe Estates neighborhood in Norwalk, IA, residents most commonly identify their ethnicity or ancestry as German (36.5%). There are also a number of people of Irish ancestry (13.6%), and residents who report English roots (11.4%), and some of the residents are also of Norwegian ancestry (6.0%), along with some Italian ancestry residents (5.2%), among others.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Colchester Lakewood / Lakewood Pointe Estates neighborhood spend between 15 and 30 minutes commuting one-way to work (57.2% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (80.1%) drive alone in a private automobile to get to work. 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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