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Real Estate Prices & Overview

Lake Forest median real estate price is $572,346, which is more expensive than 95.9% of the neighborhoods in Kentucky and 75.5% of the neighborhoods in the U.S.

The average rental price in Lake Forest is currently $1,197, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 77.0% of Kentucky neighborhoods.

Lake Forest is a suburban neighborhood (based on population density) located in Louisville, Kentucky.

Lake Forest 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 Lake Forest 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.

In Lake Forest, the current vacancy rate is 1.7%, which is a lower rate of vacancies than 89.1% of all neighborhoods in the U.S. This means that the housing supply in Lake Forest is very tight compared to the demand for property here.

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

People

Of note is NeighborhoodScout's research finding that the Lake Forest neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Lake Forest community truly stands out from the rest in this regard.

In addition, a majority of the adults in the Lake Forest 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 Kentucky by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 96.9% of the neighborhoods in Kentucky. 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 college students.

Real Estate

One way that the Lake Forest neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 98.5% 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.

In addition, most neighborhoods are composed of a mixture of ages of homes, but the Lake Forest stands out as rather unique in having nearly all of its residential real estate built in one time period, namely between 1970 and 1999, generally considered to be established, but not old housing. What you'll sense when you look around or drive the streets of this neighborhood is that many of the residences look the same because of this similarity of age. In fact, 85.4% of the residential real estate here was built in this one time period.

Diversity

Did you know that the Lake Forest neighborhood has more English ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 20.1% of this neighborhood's residents have English 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 Forest neighborhood in Louisville are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 92.6% of the neighborhoods in America. In addition, 0.0% 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 100.0% 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 Forest neighborhood, 61.7% 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 21.3% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (9.9%), and 7.1% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Lake Forest neighborhood is English, spoken by 92.9% of households.

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Lake Forest neighborhood in Louisville, KY, residents most commonly identify their ethnicity or ancestry as German (27.3%). There are also a number of people of English ancestry (20.1%), and residents who report Irish roots (16.1%), and some of the residents are also of Polish ancestry (5.9%), along with some Italian ancestry residents (5.0%), among others.

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 Lake Forest neighborhood spend between 15 and 30 minutes commuting one-way to work (35.1% 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 (8.9%) . 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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