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Real Estate Prices & Overview

Five Mile Prairie East median real estate price is $556,348, which is more expensive than 50.2% of the neighborhoods in Washington and 74.7% of the neighborhoods in the U.S.

The average rental price in Five Mile Prairie East is currently $2,321, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 60.9% of Washington neighborhoods.

Five Mile Prairie East is a suburban neighborhood (based on population density) located in Spokane, Washington.

Five Mile Prairie East real estate is primarily made up of large (four, five or more bedroom) to medium sized (three or four bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Five Mile Prairie East neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

In Five Mile Prairie East, 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 Five Mile Prairie East is very tight compared to the demand for property here.

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.

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 Five Mile Prairie East 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, one way that the Five Mile Prairie East neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 97.7% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.

Furthermore, if you like the look and ambience of new homes and newly built neighborhoods, you will love the Five Mile Prairie East neighborhood. A whopping 69.9% of the homes and other residential real estate here were built after 1999, which is a higher proportion of new homes then you will find in 96.1% of the neighborhoods in the U.S. Everything here just feels new.

People

A majority of the adults in the Five Mile Prairie East neighborhood are wealthy and educated executives. They own stately homes that tend to maintain high real estate appreciation rates. Their upper-level careers keep them busy, but allow them to live comfortably. If you're an executive and want to keep similar company, consider settling in this neighborhood, rated as an executive lifestyle "best choice" neighborhood for Washington by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 96.9% of the neighborhoods in Washington. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for families with school-aged children and urban sophisticates.

Diversity

Did you know that the Five Mile Prairie East neighborhood has more Ukrainian and Danish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.5% of this neighborhood's residents have Ukrainian ancestry and 2.8% have Danish ancestry.

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 Five Mile Prairie East neighborhood in Spokane are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 78.5% of the neighborhoods in America. In addition, 0.4% 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 80.1% of America'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 Five Mile Prairie East neighborhood, 51.5% of the working population is employed in executive, management, and professional 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 17.7% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (16.9%), and 13.0% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Five Mile Prairie East neighborhood is English, spoken by 91.4% of households. Some people also speak Spanish (2.9%).

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 Five Mile Prairie East neighborhood in Spokane, WA, residents most commonly identify their ethnicity or ancestry as English (22.2%). There are also a number of people of Irish ancestry (14.2%), and residents who report German roots (10.5%), and some of the residents are also of Mexican ancestry (7.3%), along with some Italian ancestry residents (7.3%), among others.

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 Five Mile Prairie East neighborhood spend between 15 and 30 minutes commuting one-way to work (58.2% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (81.3%) 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 (6.2%) . 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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