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Real Estate Prices & Overview

Lakewood Hills median real estate price is $246,892, which is less expensive than 61.0% of Tennessee neighborhoods and 67.7% of all U.S. neighborhoods.

The average rental price in Lakewood Hills is currently $1,132, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 93.2% of Tennessee neighborhoods.

Lakewood Hills is a suburban neighborhood (based on population density) located in Memphis, Tennessee.

Lakewood Hills 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 single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Lakewood Hills neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

Vacant apartments or homes are a major fact of life in Lakewood Hills. The current real estate vacancy rate here is 21.3%. This is higher than the rate of vacancies in 88.3% 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

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.

People

Single parenting is hard. But you don't have to tell the Lakewood Hills neighborhood about it; they already know. 31.5% of this neighborhood's households are run by single mothers, which is a higher concentration than NeighborhoodScout found in 99.6% of American neighborhoods. Further NeighborhoodScout research showed strong statistical correlations among high rates of children living in single parent households, and neighborhood crime, particularly violent crime, neighborhood poverty, and, importantly, the percentage of low weight births and rates of infant mortality.

In addition, one of the unique characteristics of the Lakewood Hills neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 96.1% of the neighborhoods in America. Also of note, 57.9% of the children in this area live in poverty; an extraordinarily high percentage compared to other neighborhoods in the nation. In a nation where approximately one in four children grows up in poverty, this neighborhood stands out for the depth of the problem manifested here.

Modes of Transportation

Our research shows that more people carpool to work here in the Lakewood Hills (23.3%) than in 96.0% 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 Lakewood Hills neighborhood in Memphis are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 96.1% of U.S. neighborhoods. With 57.9% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 96.3% 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 Lakewood Hills neighborhood, 34.0% 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 executive, management, and professional occupations, with 25.5% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (24.7%), and 15.8% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Lakewood Hills neighborhood is English, spoken by 98.7% of households.

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 Lakewood Hills neighborhood in Memphis, TN, residents most commonly identify their ethnicity or ancestry as English (4.5%). There are also a number of people of German ancestry (1.4%), and residents who report Spanish roots (1.3%), and some of the residents are also of Eastern European ancestry (1.3%), along with some Irish ancestry residents (1.2%), among others.

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 Lakewood Hills neighborhood spend between 15 and 30 minutes commuting one-way to work (46.3% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (71.3%) 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 (23.3%) . 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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Crime includes:
Neighborhood Crime Index
Crimes Per Square Mile
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Schools include:
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