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Real Estate Prices & Overview

Lake Monroe median real estate price is $501,100, which is more expensive than 65.2% of the neighborhoods in Florida and 68.2% of the neighborhoods in the U.S.

The average rental price in Lake Monroe is currently $2,512, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 53.5% of Florida neighborhoods.

Lake Monroe is a suburban neighborhood (based on population density) located in Sanford, Florida.

Lake Monroe 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 occupied by a mixture of owners and renters. Many of the residences in the Lake Monroe neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

Home and apartment vacancy rates are 6.4% in Lake Monroe. NeighborhoodScout analysis shows that this rate is lower than 57.5% of the neighborhoods in the nation, approximately near the middle range for vacancies.

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.

Real Estate

Homes built from 2000 through today make up a higher proportion of the Lake Monroe neighborhood's real estate landscape than 95.8% of the neighborhoods in America. When you are driving around this neighborhood, you'll notice right away that it is one of the newest built of any, with the smell of fresh paint, and the look of young landscaping nearly everywhere you look. In fact, 69.7% of the residential real estate here is classified as newer.

Diversity

Did you know that the Lake Monroe neighborhood has more South American and Haitian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 13.1% of this neighborhood's residents have South American ancestry and 3.9% have Haitian 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 Lake Monroe neighborhood in Sanford are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 64.5% of U.S. neighborhoods. With 30.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 81.3% 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 Lake Monroe neighborhood, 40.8% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 21.4% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (21.0%), and 16.7% in manufacturing and laborer 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 Lake Monroe neighborhood is English, spoken by 67.6% of households. Other important languages spoken here include Spanish and Langs. of India.

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 Lake Monroe neighborhood in Sanford, FL, residents most commonly identify their ethnicity or ancestry as South American (13.1%). There are also a number of people of Puerto Rican ancestry (9.7%), and residents who report Asian roots (7.4%), and some of the residents are also of German ancestry (6.0%), along with some Irish ancestry residents (4.5%), among others. In addition, 21.5% 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 Monroe neighborhood spend between 15 and 30 minutes commuting one-way to work (40.9% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (67.4%) 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 (10.2%) . 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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