Lake Hamilton median real estate price is $458,472, which is more expensive than 89.9% of the neighborhoods in Arkansas and 57.2% of the neighborhoods in the U.S.
The average rental price in Lake Hamilton is currently $1,294, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 45.5% of Arkansas neighborhoods.
Lake Hamilton is a rural neighborhood (based on population density) located in Hot Springs, Arkansas.
Lake Hamilton real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and mobile homes. Most of the residential real estate is owner occupied. Many of the residences in the Lake Hamilton 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 Hamilton. The current real estate vacancy rate here is 32.6%. This is higher than the rate of vacancies in 96.0% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (25.5%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.
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 Hot Springs, the Lake Hamilton neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 32.6% of the residential real estate vacant, the Lake Hamilton neighborhood claims the distinction of having a higher vacancy rate than 96.0% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.
Significantly, 1.0% of its residents five years old and above primarily speak Urdu, which is the national language of Pakistan, at home. While this may seem like a small percentage, it is higher than 97.3% of the neighborhoods in America.
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 Lake Hamilton neighborhood in Hot Springs are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 41.8% of the neighborhoods in America. With 29.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 81.2% 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 Hamilton neighborhood, 33.9% 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 30.8% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (21.1%), and 14.2% in clerical, assistant, and tech support occupations.
The most common language spoken in the Lake Hamilton neighborhood is English, spoken by 99.5% of households.
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 Hamilton neighborhood in Hot Springs, AR, residents most commonly identify their ethnicity or ancestry as Irish (9.6%). There are also a number of people of English ancestry (8.0%), and residents who report German roots (5.3%), and some of the residents are also of French ancestry (3.6%), along with some Italian ancestry residents (2.4%), among others.
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 Lake Hamilton neighborhood spend between 15 and 30 minutes commuting one-way to work (38.6% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (85.3%) 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 (8.1%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.