Lake Mendota Dr / University Bay Dr median real estate price is $664,655, which is more expensive than 97.1% of the neighborhoods in Wisconsin and 78.7% of the neighborhoods in the U.S.
The average rental price in Lake Mendota Dr / University Bay Dr is currently $1,634, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 70.6% of the neighborhoods in Wisconsin.
Lake Mendota Dr / University Bay Dr is a suburban neighborhood (based on population density) located in Madison, Wisconsin.
Lake Mendota Dr / University Bay Dr real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Lake Mendota Dr / University Bay Dr neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
Real estate vacancies in Lake Mendota Dr / University Bay Dr are 5.3%, which is lower than one will find in 64.2% of American neighborhoods. Demand for real estate in Lake Mendota Dr / University Bay Dr is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.
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 Madison, the Lake Mendota Dr / University Bay Dr neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
Some neighborhoods have residents that are more educated than others. But in this neighborhood there is a dramatic difference. NeighborhoodScout's exclusive analysis reveals that 68.9% of the adults here have earned a Masters degree, medical degree, Ph.D. or law degree. This is a higher rate of people with a graduate degree than is found in 100.0% of U.S. neighborhoods, where the average American neighborhood has 13.4% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.
Modes of Transportation
Our research revealed that more commuters here take the bus to work (45.9% ride the bus) than 100.0% of all American neighborhoods. If you like the idea of leaving your car and home and hopping the bus to work, this might be a good neighborhood for you to consider.
Also, would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the Lake Mendota Dr / University Bay Dr neighborhood is a fantastic option for bicycle commuters, as 9.3% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 99.6% of the neighborhoods in America.
Finally, more people in Lake Mendota Dr / University Bay Dr choose to walk to work each day (11.3%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.
Occupations
The Lake Mendota Dr / University Bay Dr neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 99.5% of the neighborhoods in America. In fact, 82.4% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
Real Estate
The Lake Mendota Dr / University Bay Dr neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 92.0% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
In addition, 95.5% of the real estate in the Lake Mendota Dr / University Bay Dr neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
Furthermore, corner bodegas, stores on the first floor and apartments above, former grand Victorian residences converted into apartments, three-deckers built shoulder-to-shoulder, duplexes. Such building types define the real estate of neighborhoods dominated by small 2, 3, and 4 unit apartment buildings. Many are in older core neighborhoods of Eastern and Midwestern cities, or historic town centers in their hinterlands. If you wax romantic about the look and feel of such neighborhoods, with fresh pizza, falafel and an independent florist at the corner, then you might find the Lake Mendota Dr / University Bay Dr neighborhood worth a close look. This neighborhood is an absolutely outstanding example of the dominance of small 2, 3, and 4 unit apartment buildings compared to neighborhoods across the nation, as they make up a substantial portion of this neighborhood's real estate stock. In fact, no less than 39.1% of the real estate here is made up of such dwellings, which is higher than 96.9% of all U.S. neighborhoods.
Car Ownership
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 Lake Mendota Dr / University Bay Dr neighborhood have a highly unusual car ownership. 23.9% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 96.2% of U.S. neighborhoods.
Diversity
Did you know that the Lake Mendota Dr / University Bay Dr neighborhood has more Iranian and Arab ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.6% of this neighborhood's residents have Iranian ancestry and 5.3% have Arab ancestry.
Lake Mendota Dr / University Bay Dr is also pretty special linguistically. Significantly, 3.7% of its residents five years old and above primarily speak Persian at home. While this may seem like a small percentage, it is higher than 99.7% of the neighborhoods in America.
Migration / Stability
The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. In the Lake Mendota Dr / University Bay Dr neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 98.8% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas. What is also interesting to note, is that the Lake Mendota Dr / University Bay Dr neighborhood has a greater percentage of residents born in another country (60.3%) than are found in 99.2% of all U.S. neighborhoods.
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 Lake Mendota Dr / University Bay Dr neighborhood in Madison are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 87.4% of U.S. neighborhoods. In addition, 10.0% 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 50.8% of America's neighborhoods.
A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.
In the Lake Mendota Dr / University Bay Dr neighborhood, 82.4% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 6.2% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (6.1%), and 5.3% 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 Lake Mendota Dr / University Bay Dr neighborhood is English, spoken by 44.0% of households. Other important languages spoken here include Chinese, Korean, Langs. of India and Persian.
Ethnicity / Ancestry
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 Lake Mendota Dr / University Bay Dr neighborhood in Madison, WI, residents most commonly identify their ethnicity or ancestry as Asian (38.9%). There are also a number of people of Sub-Saharan African ancestry (10.7%), and residents who report Arab roots (5.3%), and some of the residents are also of Italian ancestry (5.1%), along with some German ancestry residents (5.0%), among others. In addition, 60.3% of the residents of this neighborhood were born in another country.
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 Lake Mendota Dr / University Bay Dr neighborhood spend between 15 and 30 minutes commuting one-way to work (64.1% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (45.9%) ride the bus to get to work. In addition, quite a number also drive alone in a private automobile to get to work (14.9%) and 11.3% of residents also hop out the door and walk to work for their daily commute. The bus provides a valuable service in the Lake Mendota Dr / University Bay Dr neighborhood of Madison by getting a lot of residents to and from work daily, reducing the costs of commuting and reducing some congestion on the roads as well.
