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Real Estate Prices & Overview

W Palm Ln / N 55th Ave median real estate price is $319,610, which is less expensive than 72.1% of Arizona neighborhoods and 56.8% of all U.S. neighborhoods.

The average rental price in W Palm Ln / N 55th Ave is currently $2,093, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 61.2% of Arizona neighborhoods.

W Palm Ln / N 55th Ave is an urban neighborhood (based on population density) located in Phoenix, Arizona.

W Palm Ln / N 55th Ave real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the W Palm Ln / N 55th Ave neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

In W Palm Ln / N 55th Ave, 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 W Palm Ln / N 55th Ave is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

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.

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 W Palm Ln / N 55th Ave 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.

In addition, most neighborhoods are composed of a mixture of ages of homes, but the W Palm Ln / N 55th Ave stands out as rather unique in having nearly all of its residential real estate built in one time period, namely between 1970 and 1999, generally considered to be established, but not old housing. What you'll sense when you look around or drive the streets of this neighborhood is that many of the residences look the same because of this similarity of age. In fact, 80.5% of the residential real estate here was built in this one time period.

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 W Palm Ln / N 55th Ave neighborhood have a highly unusual car ownership. Residents of this neighborhood must really love automobiles. NeighborhoodScout's Analysis reveals that 41.0% of the households here have four, five, or more cars. That is more cars per household than in 98.4% of the neighborhoods in the nation.

People

NeighborhoodScout's exclusive research revealed that 96.7% of the adult residents in the W Palm Ln / N 55th Ave neighborhood do not have a 4-year college degree, which is a lower rate of college graduated adults than found in 98.2% of the neighborhoods in America.

Occupations

Each year, fewer and fewer Americans make their living as farmers, foresters, or fishers. But the W Palm Ln / N 55th Ave neighborhood truly stands out among U.S. neighborhoods. According to exclusive NeighborhoodScout analysis, this neighborhood has a greater proportion of farmers, foresters, or fishers than 95.0% of all American neighborhoods. This is truly a unique cultural characteristic of this neighborhood.

Diversity

Did you know that the W Palm Ln / N 55th Ave neighborhood has more Mexican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 86.5% of this neighborhood's residents have Mexican ancestry.

W Palm Ln / N 55th Ave is also pretty special linguistically. Significantly, 73.6% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 97.9% of all U.S. neighborhoods.

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. More residents of the W Palm Ln / N 55th Ave neighborhood live here today that also were living in this same neighborhood five years ago than is found in 96.4% of U.S. neighborhoods. This neighborhood is really made up of people who know each other, don't move often, and have lived here in this very neighborhood for quite a while.

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 W Palm Ln / N 55th Ave neighborhood in Phoenix are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 56.6% of the neighborhoods in America. With 22.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 71.8% of U.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 W Palm Ln / N 55th Ave neighborhood, 35.8% of the working population is employed in manufacturing and laborer 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 26.2% of the residents employed. Other residents here are employed in executive, management, and professional occupations (20.6%), and 13.9% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the W Palm Ln / N 55th Ave neighborhood is Spanish, spoken by 73.6% of households. Some people also speak English (25.8%).

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 W Palm Ln / N 55th Ave neighborhood in Phoenix, AZ, residents most commonly identify their ethnicity or ancestry as Mexican (86.5%). There are also a number of people of Sub-Saharan African ancestry (1.6%), and residents who report African roots (1.6%), and some of the residents are also of German ancestry (1.5%), along with some South American ancestry residents (1.4%), among others. In addition, 28.0% 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 W Palm Ln / N 55th Ave neighborhood spend between 15 and 30 minutes commuting one-way to work (39.2% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (83.9%) 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 (9.7%) . 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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