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Real Estate Prices & Overview

Lake Park Manor / Mill Meadows median real estate price is $398,212, which is more expensive than 71.4% of the neighborhoods in Illinois and 55.1% of the neighborhoods in the U.S.

The average rental price in Lake Park Manor / Mill Meadows is currently $2,418, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 71.1% of the neighborhoods in Illinois.

Lake Park Manor / Mill Meadows is a suburban neighborhood (based on population density) located in Addison, Illinois.

Lake Park Manor / Mill Meadows real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two 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 Lake Park Manor / Mill Meadows neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Real estate vacancies in Lake Park Manor / Mill Meadows are 4.8%, which is lower than one will find in 68.1% of American neighborhoods. Demand for real estate in Lake Park Manor / Mill Meadows 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.

Diversity

Did you know that the Lake Park Manor / Mill Meadows neighborhood has more Yugoslav ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.2% of this neighborhood's residents have Yugoslav ancestry.

Lake Park Manor / Mill Meadows is also pretty special linguistically. Significantly, 1.3% of its residents five years old and above primarily speak Greek at home. While this may seem like a small percentage, it is higher than 97.8% of the neighborhoods in America.

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 Lake Park Manor / Mill Meadows neighborhood in Addison are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 60.5% of the neighborhoods in America. In addition, 5.7% 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 62.5% of America'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 Park Manor / Mill Meadows neighborhood, 29.2% 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 27.0% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (23.9%), and 19.9% 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 Park Manor / Mill Meadows neighborhood is English, spoken by 36.9% of households. Other important languages spoken here include Spanish, Polish and Langs. of India.

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 Lake Park Manor / Mill Meadows neighborhood in Addison, IL, residents most commonly identify their ethnicity or ancestry as Mexican (34.7%). There are also a number of people of Asian ancestry (15.9%), and residents who report Polish roots (9.6%), and some of the residents are also of Italian ancestry (7.8%), along with some German ancestry residents (7.0%), among others. In addition, 39.5% of the residents of this neighborhood were born in another country.

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 Lake Park Manor / Mill Meadows neighborhood spend between 15 and 30 minutes commuting one-way to work (32.2% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (73.8%) 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 (17.3%) . 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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