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Real Estate Prices & Overview

Lake Buchanan median real estate price is $332,880, which is more expensive than 33.0% of the neighborhoods in Florida and 44.5% of the neighborhoods in the U.S.

The average rental price in Lake Buchanan is currently $2,013, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 76.4% of Florida neighborhoods.

Lake Buchanan is a densely urban neighborhood (based on population density) located in Orlando, Florida.

Lake Buchanan 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 Buchanan 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.

Vacant apartments or homes are a major fact of life in Lake Buchanan. The current real estate vacancy rate here is 36.8%. This is higher than the rate of vacancies in 96.9% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.

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.

Modes of Transportation

If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 4.2% of residents in the Lake Buchanan neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 97.5% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.

Also, our research shows that more people carpool to work here in the Lake Buchanan (24.2%) than in 96.6% of the neighborhoods in America.

Finally, more people ride the bus in this neighborhood each day to get to work than 96.4% of U.S. neighborhoods.

Real Estate

Renter-occupied real estate is dominant in the Lake Buchanan neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 84.1%, which is higher than 95.0% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so. Despite all of the residential real estate here in the Lake Buchanan neighborhood, NeighborhoodScout has discovered that much of it is vacant. In resort or second-home vacation areas, this naturally occurs because homes and apartments are seasonally occupied, and empty for a portion of the year. In non-vacation or resort areas, however, this can be an indicator of property abandonment or a weak real estate market. The vacancy rate here is 36.8%, which is higher than 96.9% of all U.S. neighborhoods.

Occupations

From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the Lake Buchanan neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 96.2% of all American neighborhoods.

Car Ownership

We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the Lake Buchanan neighborhood has a highly unusual pattern of car ownership. 23.1% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 96.0% of U.S. neighborhoods.

Diversity

Did you know that the Lake Buchanan neighborhood has more Lebanese and Haitian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.5% of this neighborhood's residents have Lebanese ancestry and 21.5% have Haitian ancestry.

Lake Buchanan is also pretty special linguistically. Significantly, 21.8% of its residents five years old and above primarily speak French at home. While this may seem like a small percentage, it is higher than 99.8% 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 Lake Buchanan neighborhood in Orlando are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 93.2% of U.S. neighborhoods. With 39.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 88.7% of U.S. neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Lake Buchanan neighborhood, 39.5% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 24.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (21.6%), and 14.6% in executive, management, and professional 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 Buchanan neighborhood is English, spoken by 57.6% of households. Other important languages spoken here include French and Spanish.

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the Lake Buchanan neighborhood in Orlando, FL, residents most commonly identify their ethnicity or ancestry as Haitian (21.5%). There are also a number of people of Puerto Rican ancestry (11.8%), and residents who report Sub-Saharan African roots (7.4%), and some of the residents are also of Arab ancestry (5.7%), along with some Lebanese ancestry residents (5.5%), among others. In addition, 30.9% 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 Lake Buchanan neighborhood spend between 15 and 30 minutes commuting one-way to work (43.1% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (46.3%) 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 (24.2%) and 12.9% 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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