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Real Estate Prices & Overview

Park Forest Village median real estate price is $423,369, which is more expensive than 75.2% of the neighborhoods in Pennsylvania and 57.3% of the neighborhoods in the U.S.

The average rental price in Park Forest Village is currently $1,685, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 53.0% of Pennsylvania neighborhoods.

Park Forest Village is a suburban neighborhood (based on population density) located in State College, Pennsylvania.

Park Forest Village real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two 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 Park Forest Village neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Home and apartment vacancy rates are 7.9% in Park Forest Village. NeighborhoodScout analysis shows that this rate is lower than 48.7% 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 State College, the Park Forest Village neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

If knowledge is power, then imagine the cumulative power of one neighborhood where many of the adults have earned an advanced degree, such as a Masters, law degree, medical degree, or even a Ph.D. This is certainly the case in the Park Forest Village neighborhood, where 37.6% have earned an advanced degree. Compare that to the average neighborhood in America, where just 13.4% of adults have completed a post-graduate degree, and you can see why this neighborhood is a stand out. In fact, this neighborhood has a higher rate of adults with an advanced degree than 96.2% of the neighborhoods in America.

In addition, with a nice mix of college students, safety from crime, and decent walkability, the Park Forest Village neighborhood rates highly as a college student friendly place to live, and one that college students and their parents may want to consider. NeighborhoodScout's analysis shows that it rates more highly for a good place for college students to live than 88.7% of the neighborhoods in PA. This often also means that the area has certain amenities and services geared towards college students, from undergraduates to graduate students.

Diversity

Did you know that the Park Forest Village neighborhood has more Slovak and Ukrainian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.1% of this neighborhood's residents have Slovak ancestry and 2.4% have Ukrainian ancestry.

Park Forest Village is also pretty special linguistically. Significantly, 1.9% of its residents five years old and above primarily speak German/Yiddish at home. While this may seem like a small percentage, it is higher than 96.0% 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 Park Forest Village neighborhood in State College are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 55.1% of the neighborhoods in America. In addition, 3.1% 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 71.0% 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 Park Forest Village neighborhood, 63.5% 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 15.3% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (10.7%), and 10.5% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Park Forest Village neighborhood is English, spoken by 88.4% of households. Some people also speak Chinese (2.8%).

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 Park Forest Village neighborhood in State College, PA, residents most commonly identify their ethnicity or ancestry as German (20.5%). There are also a number of people of Irish ancestry (17.8%), and residents who report English roots (14.2%), and some of the residents are also of Italian ancestry (8.2%), along with some Asian ancestry residents (6.3%), among others.

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 Park Forest Village neighborhood spend between 15 and 30 minutes commuting one-way to work (49.2% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (63.7%) 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 (6.9%) . 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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