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Real Estate Prices & Overview

Parklane St / Green Hill Rd median real estate price is $584,419, which is more expensive than 94.5% of the neighborhoods in Michigan and 74.0% of the neighborhoods in the U.S.

The average rental price in Parklane St / Green Hill Rd is currently $2,114, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 84.5% of the neighborhoods in Michigan.

Parklane St / Green Hill Rd is a suburban neighborhood (based on population density) located in Farmington Hills, Michigan.

Parklane St / Green Hill Rd 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 Parklane St / Green Hill Rd neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

In Parklane St / Green Hill Rd, the current vacancy rate is 0.9%, which is a lower rate of vacancies than 91.7% of all neighborhoods in the U.S. This means that the housing supply in Parklane St / Green Hill Rd 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 Farmington Hills, the Parklane St / Green Hill Rd 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 Parklane St / Green Hill Rd 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 Parklane St / Green Hill Rd community truly stands out from the rest in this regard.

In addition, the Parklane St / Green Hill Rd neighborhood is considered a solid choice for executive lifestyles. NeighborhoodScout's analysis ranks it as better than 94.6% of Michigan neighborhoods for executive living, based on the wealthy, educated professionals, executives, and managers who choose to reside here, the spacious homes that are prominent features of the real estate in the neighborhood, and the high real estate appreciation rates found here relative to other neighborhoods in the state.

Modes of Transportation

A unique way of commuting is simply not to. And in the Parklane St / Green Hill Rd neighborhood, analysis shows that 34.0% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 98.5% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.

Real Estate

Most neighborhoods are composed of a mixture of ages of homes, but the Parklane St / Green Hill Rd 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.

Occupations

The Parklane St / Green Hill Rd neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 96.0% of the neighborhoods in America. In fact, 71.0% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.

Diversity

Did you know that the Parklane St / Green Hill Rd neighborhood has more Belgian and Armenian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.4% of this neighborhood's residents have Belgian ancestry and 1.5% have Armenian ancestry.

Parklane St / Green Hill Rd is also pretty special linguistically. Significantly, 7.0% of its residents five years old and above primarily speak Langs. of India at home. While this may seem like a small percentage, it is higher than 98.5% of the neighborhoods in America.

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 Parklane St / Green Hill Rd neighborhood in Farmington Hills 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 88.9% 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 Parklane St / Green Hill Rd neighborhood, 71.0% 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 13.4% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (10.9%), and 4.6% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Parklane St / Green Hill Rd neighborhood is English, spoken by 63.9% of households. Some people also speak Langs. of India (7.0%).

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 Parklane St / Green Hill Rd neighborhood in Farmington Hills, MI, residents most commonly identify their ethnicity or ancestry as Asian (41.8%). There are also a number of people of Italian ancestry (9.6%), and residents who report Polish roots (9.5%), and some of the residents are also of Irish ancestry (6.7%), along with some German ancestry residents (5.1%), among others. In addition, 33.1% of the residents of this neighborhood were born in another country.

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 Parklane St / Green Hill Rd neighborhood spend between 30 and 45 minutes commuting one-way to work (48.0% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (58.1%) 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 (7.4%) . 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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