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Real Estate Prices & Overview

Lakes of Forest Hill median real estate price is $401,733, which is more expensive than 70.9% of the neighborhoods in Tennessee and 56.6% of the neighborhoods in the U.S.

The average rental price in Lakes of Forest Hill is currently $1,938, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 65.3% of the neighborhoods in Tennessee.

Lakes of Forest Hill is a suburban neighborhood (based on population density) located in Memphis, Tennessee.

Lakes of Forest Hill real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Lakes of Forest Hill neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

Real estate vacancies in Lakes of Forest Hill are 5.0%, which is lower than one will find in 66.4% of American neighborhoods. Demand for real estate in Lakes of Forest Hill 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.

Notable & Unique Neighborhood Characteristics

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 Memphis, the Lakes of Forest Hill neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Occupations

With 2.9% of employed workers living in the Lakes of Forest Hill neighborhood active in the military, this neighborhood has the distinction of having a higher proportion of people in the military than 97.5% of American neighborhoods. This is a major shaper of the neighborhood's culture and character.

People

Single parenting is hard. But you don't have to tell the Lakes of Forest Hill neighborhood about it; they already know. 20.5% of this neighborhood's households are run by single mothers, which is a higher concentration than NeighborhoodScout found in 97.3% 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.

Diversity

Did you know that the Lakes of Forest Hill neighborhood has more African and Arab ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 17.0% of this neighborhood's residents have African ancestry and 5.8% have Arab ancestry.

Lakes of Forest Hill is also pretty special linguistically. Significantly, 2.8% of its residents five years old and above primarily speak Arabic at home. While this may seem like a small percentage, it is higher than 96.3% 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 Lakes of Forest Hill neighborhood in Memphis are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 46.3% of the neighborhoods in America. With 13.7% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 57.6% of U.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 Lakes of Forest Hill neighborhood, 35.9% of the working population is employed in manufacturing and laborer occupations. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 31.7% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (16.8%), and 15.6% in clerical, assistant, and tech support 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 Lakes of Forest Hill neighborhood is English, spoken by 86.7% of households. Other important languages spoken here include Langs. of India and Arabic.

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 Lakes of Forest Hill neighborhood in Memphis, TN, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (17.0%). There are also a number of people of African ancestry (17.0%), and residents who report Arab roots (5.8%), and some of the residents are also of Asian ancestry (4.8%).

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 Lakes of Forest Hill neighborhood spend between 15 and 30 minutes commuting one-way to work (42.4% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (83.7%) 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 (11.0%) . 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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