This is a small community in a single neighborhood.
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What do we mean by a neighborhood?
NeighborhoodScout® uses the official government designation for neighborhoods - the census tract.
Census tracts are small, relatively permanent subdivisions of a county that are defined by the U.S. Census Bureau in conjunction with local authorities all across the country to define real neighborhoods that are bounded to contain areas with homogeneous population characteristics (including economic status, lifestyle, and living conditions). Census tracts usually have 4,000 persons, but can range between 1,500 and 8,000 persons. This is the most fine-grained area for which detailed information is made available from the government, to protect the individual privacy of each of us. Because census tracts are based on population, they vary in size depending on the density of settlement. In urban areas, they are small, and in rural areas they can cover an entire small town or even a few small towns in very rural areas.
Since census tracts are subdivisions of a county, we did a spatial overlay of the census tracts onto city and town boundaries using a geographic information system to properly assign each census tract to its appropriate city or town. Then we named each census tract to the local colloquially recognized neighborhood name for that spot (e.g., Boston, MA (Dorchester). If there was not a name available, we named the census tract by the largest street intersection in the census tract (e.g., Worcester, MA (Lincoln St/Plantation St)
Why we don't use Zip Codes as neighborhoods
Zip codes were developed by the Postal Service for the purpose of delivering mail, but were never intended to define coherent neighborhoods. In addition, Zip Codes can have as many as 10 distinctly different census tracts contained within them. When distinct census tracts are blended together in a single Zip Code, the data reflects their average conditions and often gives a false sense of the area. The result is that potentially great matching neighborhoods can be missed, and erroneous matches can also be produced and delivered to you.
Using census tracts makes great matches possible, and helps people find the areas that are best for them and their families. Because we are committed to providing the highest possible quality and finding the neighborhoods that best meet your criteria, we use census tracts. And, as always, we show you the actual street map of the neighborhood so you know exactly where your best matching neighborhood is located.
What is a Condition Alert?
A condition alert is a condition in the neighborhood that triggers an alert. NeighborhoodScout contains condition alerts to highlight conditions that are extreme, whether good or bad. This helps answer crucial questions about the state of the neighborhood being evaluated, such as:
What are the risks of violent crime here?
Is the risk of home break-ins or other property crimes increasing?
Does real estate here hold its value?
Are the trends in local vacancies or unemployment concerning?
...and dozens more.
Information at a glance that you need to know to invest, appraise or finance a property.
Lake Success is a very small village located in the state of New York. With a population of 2,807 people and just one neighborhood, Lake Success is the 488th largest community in New York.
Lake Success home prices are not only among the most expensive in New York, but Lake Success real estate also consistently ranks among the most expensive in America.
Occupations and Workforce
Lake Success is a decidedly white-collar village, with fully 97.51% of the workforce employed in white-collar jobs, well above the national average. Overall, Lake Success is a village of professionals, managers, and sales and office workers. There are especially a lot of people living in Lake Success who work in healthcare (19.76%), sales jobs (13.14%), and management occupations (12.97%).
Also of interest is that Lake Success has more people living here who work in computers and math than 95% of the places in the US.
Of important note, Lake Success is also a village of artists. Lake Success has more artists, designers and people working in media than 90% of the communities in America. This concentration of artists helps shape Lake Success’s character.
One interesting thing about the economy is that relatively large numbers of people worked from their home: 14.60% of the workforce. While this number may seem small overall, as a fraction of the total workforce this is high compared to the rest of the county. These workers are often telecommuters who work in knowledge-based, white-collar professions. For example, Silicon Valley has large numbers of people who telecommute. Other at-home workers may be self-employed people who operate small businesses out of their homes.
Setting & Lifestyle
Lake Success is a good choice for families with children because of several factors. Many other families with children live here, making it a place where both parents and children are more likely to develop social ties with other families. The village’s good public school district and large population of college-educated adults provide an environment conducive to academic success. Many people own their own single-family homes, providing areas for children to play and stability in the community. Finally, Lake Success’s overall crime rate is lower than average for the country.
One downside of living in Lake Success, however, is that residents on average have to contend with a long commute, spending on average 31.86 minutes every day commuting to work. However, local public transit is widely used. For those who would prefer to avoid driving entirely and leave their car at home, it may be an option to use the transit instead.
Despite being a small village, Lake Success has a lot of people using the train to get to and from work every day. Most of these people on the train are using it to get to good jobs in other cities.
Demographics
Do you have a 4-year college degree or graduate degree? If so, you may feel right at home in Lake Success. 61.40% of adults here have a 4-year degree or graduate degree, whereas the national average for all cities and towns is just 21.84%.
The per capita income in Lake Success in 2022 was $90,611, which is wealthy relative to New York and the nation. This equates to an annual income of $362,444 for a family of four.
Lake Success is an extremely ethnically-diverse village. The people who call Lake Success home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Lake Success residents report their race to be Asian, followed by White. Important ancestries of people in Lake Success include Italian, Polish, Russian, Eastern European, and Irish.
Lake Success also has a high percentage of its population that was born in another country: 32.81%.
The most common language spoken in Lake Success is English. Other important languages spoken here include Chinese and Langs. of India.
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 Lake Success, the neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
If you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 0.6% of America's neighborhoods are wealthier than the neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe.
In addition, according to NeighborhoodScout's exclusive analysis, is among the best neighborhoods for families in New York. In fact, this neighborhood is more family-friendly than 98.9% of neighborhoods in the entire state of New York. Its combination of top public schools, low crime rates, and owner-occupied single family homes gives this area the look and feel of a "Leave It to Beaver" episode. Many other families also live here, making it easy to socialize and develop a strong sense of community. In addition, the high number of college-educated parents influences the academic success of the local schools. Overall, you will find all of the amenities a family needs to thrive in the neighborhood. In addition to being an excellent choice for families with school-aged children, this neighborhood is also a very good choice for highly educated executives, urban sophisticates and active retirees.
Also, some neighborhoods have residents that are more educated than others. But in this neighborhood there is a dramatic difference. NeighborhoodScout's exclusive analysis reveals that 40.8% of the adults here have earned a Masters degree, medical degree, Ph.D. or law degree. This is a higher rate of people with a graduate degree than is found in 97.3% of U.S. neighborhoods, where the average American neighborhood has 13.4% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.
Real Estate
One way that the neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 97.3% 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, some neighborhoods are made up of apartments. Some consist of row houses, and most - by far - consist of a mixture of housing types. But the neighborhood stands out due to the total dominance of detached, single-family homes here. There are nearly no other types of residential real estate in the neighborhood. In fact, this neighborhood has a higher proportion of single-family homes in its real estate stock than 96.4% of all American neighborhoods.
Modes of Transportation
In the neighborhood, 14.6% of people ride the train to work each day. This is a very high percentage compared to most places. In fact, NeighborhoodScout's analysis reveals that this is a higher level of train ridership than in 96.4% of the neighborhoods in America.
Diversity
Did you know that the neighborhood has more Asian and Eastern European ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 53.2% of this neighborhood's residents have Asian ancestry and 1.8% have Eastern European ancestry.
is also pretty special linguistically. Significantly, 28.0% of its residents five years old and above primarily speak Chinese at home. While this may seem like a small percentage, it is higher than 99.6% of the neighborhoods in America.
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 neighborhood in Lake Success 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 99.4% of the neighborhoods in America. In addition, 2.4% 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 73.5% of America'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 neighborhood, 66.2% 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 25.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (5.9%), and 2.5% 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 neighborhood is English, spoken by 55.7% of households. Other important languages spoken here include Chinese, Korean, Langs. of India and Spanish.
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 neighborhood in Lake Success, NY, residents most commonly identify their ethnicity or ancestry as Asian (53.2%). There are also a number of people of Italian ancestry (2.7%), and residents who report Polish roots (1.9%), and some of the residents are also of Russian ancestry (1.8%), along with some Eastern European ancestry residents (1.8%), among others. In addition, 32.8% 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 neighborhood spend between 15 and 30 minutes commuting one-way to work (32.9% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (56.5%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (14.6%) and 11.4% of residents also carpool with coworkers, friends, or neighbors for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
SCOUT’s patented match algorithm identifies the most similar neighborhoods to a subject location, and quantifies the similarity to the subject location. This allows analysts to identify the most similar neighborhoods in a local market area for appraisals, investments, and research.
The algorithm uses 273 neighborhood conditions, identifies the dominant dimensions underlying the conditions and calculates the similarity. This captures the true culture and character of locations, economic conditions, and trends.
The closer to 100% means the locations are nearly identical. 80% is a very good, but not excellent match, and so forth.
