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Real Estate Prices & Overview

Lakewood median real estate price is $183,878, which is more expensive than 30.7% of the neighborhoods in Michigan and 18.5% of the neighborhoods in the U.S.

The average rental price in Lakewood is currently $1,312, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 80.3% of Michigan neighborhoods.

Lakewood is a rural neighborhood (based on population density) located in Kalamazoo, Michigan.

Lakewood real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and mobile homes. Most of the residential real estate is owner occupied. Many of the residences in the Lakewood neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

Home and apartment vacancy rates are 9.0% in Lakewood. NeighborhoodScout analysis shows that this rate is lower than 43.0% of the neighborhoods in the nation, approximately near the middle range for vacancies.

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

Occupations

Each year, fewer and fewer Americans make their living as farmers, foresters, or fishers. But the Lakewood neighborhood truly stands out among U.S. neighborhoods. According to exclusive NeighborhoodScout analysis, this neighborhood has a greater proportion of farmers, foresters, or fishers than 97.5% of all American neighborhoods. This is truly a unique cultural characteristic of this neighborhood.

Diversity

Did you know that the Lakewood neighborhood has more Dutch and Native American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 6.6% of this neighborhood's residents have Dutch ancestry and 2.4% have Native American ancestry.

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 Lakewood neighborhood in Kalamazoo are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 81.8% of U.S. neighborhoods. In addition, 6.5% 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 60.0% of America'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 Lakewood neighborhood, 36.2% of the working population is employed in manufacturing and laborer 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 27.6% of the residents employed. Other residents here are employed in executive, management, and professional occupations (20.9%), and 9.4% in clerical, assistant, and tech support 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 Lakewood neighborhood is English, spoken by 86.4% of households. Other important languages spoken here include Spanish, Polish and Italian.

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 Lakewood neighborhood in Kalamazoo, MI, residents most commonly identify their ethnicity or ancestry as German (9.8%). There are also a number of people of Irish ancestry (7.4%), and residents who report English roots (7.1%), and some of the residents are also of Dutch ancestry (6.6%), along with some Sub-Saharan African ancestry residents (6.5%), 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 Lakewood neighborhood spend between 15 and 30 minutes commuting one-way to work (41.6% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (84.8%) 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 (12.1%) . 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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