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Real Estate Prices & Overview

Fossil Lake median real estate price is $378,146, which is more expensive than 68.2% of the neighborhoods in Texas and 52.0% of the neighborhoods in the U.S.

The average rental price in Fossil Lake is currently $3,518, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 97.0% of the neighborhoods in Texas.

Fossil Lake is an urban neighborhood (based on population density) located in Arlington, Texas.

Fossil Lake 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 Fossil Lake neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

In Fossil Lake, 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 Fossil Lake 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 Arlington, the Fossil Lake neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

With a real estate vacancy rate of only 0.0%, the Fossil Lake neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.

In addition, if you like the look and ambience of new homes and newly built neighborhoods, you will love the Fossil Lake neighborhood. A whopping 74.6% of the homes and other residential real estate here were built after 1999, which is a higher proportion of new homes then you will find in 96.6% of the neighborhoods in the U.S. Everything here just feels new.

People

Of note is NeighborhoodScout's research finding that the Fossil Lake neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Fossil Lake community truly stands out from the rest in this regard.

In addition, one of the really interesting characteristics about the Fossil Lake neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 0.3% of college-friendly places to live in the state of Texas. In addition to being an excellent choice for college students, this neighborhood is also a very good choice for families with school-aged children, highly educated executives and first-time home buyers.

Car Ownership

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 Fossil Lake neighborhood has a highly unusual pattern of car ownership. Residents of this neighborhood must really love automobiles. NeighborhoodScout's Analysis reveals that 34.8% of the households here have four, five, or more cars. That is more cars per household than in 96.0% of the neighborhoods in the nation.

Diversity

Did you know that the Fossil Lake neighborhood has more Iranian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.0% of this neighborhood's residents have Iranian ancestry.

Fossil Lake is also pretty special linguistically. Significantly, 10.3% of its residents five years old and above primarily speak Vietnamese at home. While this may seem like a small percentage, it is higher than 99.4% of the neighborhoods in America.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Fossil Lake neighborhood in Arlington are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 77.1% of the neighborhoods in America. In addition, 0.0% 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 100.0% 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 Fossil Lake neighborhood, 48.8% 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 19.2% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (19.0%), and 13.0% 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 Fossil Lake neighborhood is English, spoken by 67.0% of households. Other important languages spoken here include Vietnamese, Spanish, French and African languages.

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 Fossil Lake neighborhood in Arlington, TX, residents most commonly identify their ethnicity or ancestry as Mexican (18.7%). There are also a number of people of Asian ancestry (13.4%), and residents who report Sub-Saharan African roots (7.5%), and some of the residents are also of German ancestry (5.9%), along with some Scottish ancestry residents (2.2%), among others. In addition, 20.8% 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 Fossil Lake neighborhood spend between 15 and 30 minutes commuting one-way to work (29.1% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (77.1%) 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 (10.5%) . 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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