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Real Estate Prices & Overview

Meadow Lake median real estate price is $113,619, which is less expensive than 89.2% of New Mexico neighborhoods and 92.9% of all U.S. neighborhoods.

The average rental price in Meadow Lake is currently $1,113, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 83.0% of New Mexico neighborhoods.

Meadow Lake is a rural neighborhood (based on population density) located in Los Lunas, New Mexico.

Meadow Lake real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) mobile homes and single-family homes. Most of the residential real estate is owner occupied. Many of the residences in the Meadow Lake 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 Meadow Lake. The current real estate vacancy rate here is 23.3%. This is higher than the rate of vacancies in 90.4% 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

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

The Meadow Lake neighborhood stands out for having the majority of its residential real estate made up of mobile homes. In fact, 84.7% of the occupied real estate here are mobile homes, which is a greater proportion than is found in 99.9% of the neighborhoods in the U.S. If you like mobile homes, this might be a great neighborhood in which to look for real estate.

Diversity

Did you know that the Meadow Lake neighborhood has more Mexican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 60.8% of this neighborhood's residents have Mexican 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 Meadow Lake neighborhood in Los Lunas are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 93.1% of U.S. neighborhoods. With 40.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 89.4% of U.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 Meadow Lake neighborhood, 30.4% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 26.7% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (23.4%), and 17.0% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Meadow Lake neighborhood is Spanish, spoken by 52.0% of households. Some people also speak English (45.2%).

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 Meadow Lake neighborhood in Los Lunas, NM, residents most commonly identify their ethnicity or ancestry as Mexican (60.8%). There are also a number of people of Spanish ancestry (3.9%), and residents who report English roots (2.8%), and some of the residents are also of Irish ancestry (2.6%), along with some German ancestry residents (2.4%), among others. In addition, 18.1% 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 Meadow Lake neighborhood spend between 30 and 45 minutes commuting one-way to work (34.9% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (78.5%) 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 (14.3%) . 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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