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Real Estate Prices & Overview

Lakewood Heights median real estate price is $1,059,380, which is more expensive than 95.4% of the neighborhoods in Texas and 87.8% of the neighborhoods in the U.S.

The average rental price in Lakewood Heights is currently $2,558, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 84.9% of the neighborhoods in Texas.

Lakewood Heights is an urban neighborhood (based on population density) located in Dallas, Texas.

Lakewood Heights real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Lakewood Heights neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.

In Lakewood Heights, the current vacancy rate is 1.0%, which is a lower rate of vacancies than 91.2% of all neighborhoods in the U.S. This means that the housing supply in Lakewood Heights 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 Dallas, the Lakewood Heights neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Modes of Transportation

A unique way of commuting is simply not to. And in the Lakewood Heights neighborhood, analysis shows that 39.9% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 99.5% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.

People

Think about the people you know personally. How many of them would purchase box seats to opening night at the symphony? How many of them regularly attend gallery openings, or are the first to reserve tickets to opening night at the ballet? If they're like most of us, they don't do any of these things. But if you're among an exclusive crowd of wealthy and refined patrons of the arts, then you'll feel right at home in the Lakewood Heights neighborhood: a neighborhood in which more "urban sophisticates" live than 99.4% of neighborhoods across the U.S. Here, your neighbors are defined as having urbane tastes in literature, music, live theatre and the arts. They are wealthy, educated, travel in style, and live a big city lifestyle whether or not they live in or near a big city. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for highly educated executives.

In addition, do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 77.3% of the adults living in the Lakewood Heights neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 97.0% of U.S. neighborhoods. In this way, this neighborhood truly stands out.

Diversity

Did you know that the Lakewood Heights neighborhood has more Lebanese and Austrian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.7% of this neighborhood's residents have Lebanese ancestry and 1.6% have Austrian ancestry.

Lakewood Heights is also pretty special linguistically. Significantly, 0.8% 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 95.8% 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 Lakewood Heights neighborhood in Dallas are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 94.8% of the neighborhoods in America. In addition, 5.1% 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 64.4% 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 Lakewood Heights neighborhood, 68.7% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 20.6% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (8.2%), and 2.7% in government jobs, whether they are in local, state, or federal positions.

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 Lakewood Heights neighborhood is English, spoken by 94.0% of households. Other important languages spoken here include Italian, Spanish and Polish.

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 Lakewood Heights neighborhood in Dallas, TX, residents most commonly identify their ethnicity or ancestry as English (23.3%). There are also a number of people of Irish ancestry (20.9%), and residents who report German roots (19.0%), and some of the residents are also of Italian ancestry (5.2%), along with some Arab ancestry residents (4.7%), 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 Lakewood Heights neighborhood spend between 15 and 30 minutes commuting one-way to work (37.2% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (54.8%) 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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