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Real Estate Prices & Overview

Lake Irma Estates / University Shores median real estate price is $516,374, which is more expensive than 61.3% of the neighborhoods in Florida and 65.2% of the neighborhoods in the U.S.

The average rental price in Lake Irma Estates / University Shores is currently $3,200, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 70.7% of the neighborhoods in Florida.

Lake Irma Estates / University Shores is a suburban neighborhood (based on population density) located in Orlando, Florida.

Lake Irma Estates / University Shores 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 Lake Irma Estates / University Shores 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 Irma Estates / University Shores. The current real estate vacancy rate here is 18.1%. This is higher than the rate of vacancies in 84.1% 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

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 Orlando, the Lake Irma Estates / University Shores neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

The first thing that you'll notice if you moved to this neighborhood is that an astounding 4.2% of the households are same sex couples. According to NeighborhoodScout's analysis, this is a higher proportion of same sex households than in 99.8% of the neighborhoods in America. This is one indicator that this neighborhood is likely a gay-friendly neighborhood. So if you are looking for such a neighborhood, the Lake Irma Estates / University Shores neighborhood should definitely be on your list of places to consider.

Occupations

From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the Lake Irma Estates / University Shores neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 98.0% of all American neighborhoods.

Diversity

Did you know that the Lake Irma Estates / University Shores neighborhood has more Puerto Rican and Dominican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 32.6% of this neighborhood's residents have Puerto Rican ancestry and 6.1% have Dominican ancestry.

Lake Irma Estates / University Shores is also pretty special linguistically. Significantly, 0.7% of its residents five years old and above primarily speak Persian at home. While this may seem like a small percentage, it is higher than 96.7% of the neighborhoods in America.

Migration / Stability

The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. In the Lake Irma Estates / University Shores neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 98.4% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

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 Irma Estates / University Shores neighborhood in Orlando are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 63.5% of the neighborhoods in America. In addition, 1.6% 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 76.7% of America'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 Lake Irma Estates / University Shores neighborhood, 43.3% 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 31.3% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (12.6%), and 12.0% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Lake Irma Estates / University Shores neighborhood is English, spoken by 74.1% of households. Some people also speak Spanish (23.3%).

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 Irma Estates / University Shores neighborhood in Orlando, FL, residents most commonly identify their ethnicity or ancestry as Puerto Rican (32.6%). There are also a number of people of Italian ancestry (6.6%), and residents who report Dominican roots (6.1%), and some of the residents are also of Irish ancestry (5.7%), along with some English ancestry residents (5.6%), among others. In addition, 11.6% 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 Irma Estates / University Shores neighborhood spend between 30 and 45 minutes commuting one-way to work (50.0% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (72.9%) 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 (10.8%) . 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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