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Real Estate Prices & Overview

Twin Lakes East median real estate price is $583,911, which is more expensive than 46.7% of the neighborhoods in Washington and 73.4% of the neighborhoods in the U.S.

The average rental price in Twin Lakes East is currently $2,089, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 68.9% of Washington neighborhoods.

Twin Lakes East is an urban neighborhood (based on population density) located in Federal Way, Washington.

Twin Lakes East 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 Twin Lakes East neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

In Twin Lakes East, the current vacancy rate is 2.5%, which is a lower rate of vacancies than 83.4% of all neighborhoods in the U.S. This means that the housing supply in Twin Lakes East is very tight compared to the demand for property here.

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 Twin Lakes East neighborhood has more Romanian and Ukrainian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.7% of this neighborhood's residents have Romanian ancestry and 2.6% have Ukrainian ancestry.

Twin Lakes East is also pretty special linguistically. Significantly, 3.0% of its residents five years old and above primarily speak Mon-Khmer, which is the dominant language of Cambodia, at home. While this may seem like a small percentage, it is higher than 99.7% 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 Twin Lakes East neighborhood in Federal Way are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 80.2% of the neighborhoods in America. In addition, 7.0% 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 58.5% 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 Twin Lakes East neighborhood, 32.9% 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 27.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (19.6%), and 19.3% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

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 Twin Lakes East neighborhood is English, spoken by 65.7% of households. Other important languages spoken here include Spanish, Mon-Khmer (the dominant language of Cambodia) and Chinese.

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 Twin Lakes East neighborhood in Federal Way, WA, residents most commonly identify their ethnicity or ancestry as Mexican (22.0%). There are also a number of people of German ancestry (10.2%), and residents who report Asian roots (7.3%), and some of the residents are also of English ancestry (6.2%), along with some Irish ancestry residents (4.5%), among others. In addition, 20.3% 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 Twin Lakes East neighborhood spend between 30 and 45 minutes commuting one-way to work (29.2% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (63.1%) 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 (13.7%) and 7.7% of residents also ride the bus for their daily commute. 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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