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Real Estate Prices & Overview

Park Ridge Estates / Garden Oak Estates median real estate price is $453,263, which is more expensive than 77.8% of the neighborhoods in Texas and 61.5% of the neighborhoods in the U.S.

The average rental price in Park Ridge Estates / Garden Oak Estates is currently $2,257, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 75.2% of the neighborhoods in Texas.

Park Ridge Estates / Garden Oak Estates is an urban neighborhood (based on population density) located in Lewisville, Texas.

Park Ridge Estates / Garden Oak 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 apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Park Ridge Estates / Garden Oak Estates 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 Park Ridge Estates / Garden Oak Estates, 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 Park Ridge Estates / Garden Oak Estates 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 Lewisville, the Park Ridge Estates / Garden Oak Estates neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the Park Ridge Estates / Garden Oak Estates neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.

People

Of note is NeighborhoodScout's research finding that the Park Ridge Estates / Garden Oak Estates 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 Park Ridge Estates / Garden Oak Estates community truly stands out from the rest in this regard.

Diversity

Significantly, 7.2% 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 99.0% 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 Park Ridge Estates / Garden Oak Estates neighborhood in Lewisville are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 77.0% 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 Park Ridge Estates / Garden Oak Estates neighborhood, 40.7% 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 27.0% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (18.5%), and 13.8% in manufacturing and laborer 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 Park Ridge Estates / Garden Oak Estates neighborhood is English, spoken by 75.3% of households. Other important languages spoken here include Spanish, Vietnamese and Langs. of India.

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 Park Ridge Estates / Garden Oak Estates neighborhood in Lewisville, TX, residents most commonly identify their ethnicity or ancestry as Asian (15.4%). There are also a number of people of German ancestry (12.8%), and residents who report Mexican roots (12.5%), and some of the residents are also of English ancestry (8.5%), along with some Irish ancestry residents (8.3%), among others. In addition, 12.8% of the residents of this neighborhood were born in another country.

Getting to Work

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 Park Ridge Estates / Garden Oak Estates neighborhood spend between 15 and 30 minutes commuting one-way to work (37.3% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (77.5%) 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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