Colony Park median real estate price is $328,868, which is more expensive than 60.2% of the neighborhoods in Texas and 44.7% of the neighborhoods in the U.S.
The average rental price in Colony Park is currently $2,254, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 75.1% of the neighborhoods in Texas.
Colony Park is a suburban neighborhood (based on population density) located in Austin, Texas.
Colony Park real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and small apartment buildings. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Colony Park 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 Colony Park, 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 Colony Park is very tight compared to the demand for property here.
When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.
With a real estate vacancy rate of only 0.0%, the Colony Park 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 a nation where 1 out of every 4 children lives in poverty, the Colony Park neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.
In addition, an extraordinary 13.1% of the residents of the Colony Park neighborhood are currently enrolled in college. This is such a large part of life in this neighborhood that the neighborhood changes a great deal with the change of semesters and is far quieter during the summer when many students are away.
Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the Colony Park neighborhood have a highly unusual car ownership. Residents of this neighborhood must really love automobiles. NeighborhoodScout's Analysis reveals that 39.2% of the households here have four, five, or more cars. That is more cars per household than in 97.9% of the neighborhoods in the nation.
NeighborhoodScout's exclusive research identifies the Colony Park neighborhood as having one of the highest concentrations of people employed in manufacturing or as laborers of any neighborhood in America. In fact, despite the loss of manufacturing jobs nationally, this neighborhood has 41.7% of its working residents employed in such fields, which is a higher proportion than 95.1% of American neighborhoods.
Did you know that the Colony Park neighborhood has more Mexican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 64.6% of this neighborhood's residents have Mexican ancestry.
Colony Park is also pretty special linguistically. Significantly, 57.6% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 95.2% of all U.S. neighborhoods.
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 Colony Park neighborhood in Austin are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 68.4% of U.S. neighborhoods. 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 Colony Park neighborhood, 41.7% 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 27.8% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (17.7%), and 12.9% in sales and service jobs, from major sales accounts, to working in fast food restaurants.
The most common language spoken in the Colony Park neighborhood is Spanish, spoken by 57.6% of households. Some people also speak English (37.9%).
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 Colony Park neighborhood in Austin, TX, residents most commonly identify their ethnicity or ancestry as Mexican (64.6%). There are also a number of people of Asian ancestry (4.2%), and residents who report Dutch roots (1.2%), and some of the residents are also of English ancestry (1.1%). In addition, 25.2% 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 Colony Park neighborhood spend between 15 and 30 minutes commuting one-way to work (37.1% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (70.1%) 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 (12.5%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.