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Real Estate Prices & Overview

Fayette Corners / Laconia median real estate price is $412,214, which is more expensive than 69.0% of the neighborhoods in Tennessee and 55.2% of the neighborhoods in the U.S.

The average rental price in Fayette Corners / Laconia is currently $1,960, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 62.6% of the neighborhoods in Tennessee.

Fayette Corners / Laconia is a remote neighborhood (based on population density) located in Somerville, Tennessee.

Fayette Corners / Laconia real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and mobile homes. Most of the residential real estate is owner occupied. Many of the residences in the Fayette Corners / Laconia neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Fayette Corners / Laconia has a 9.9% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 61.4% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are 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.

People

Of particular note, 8.5% of the people in the Fayette Corners / Laconia neighborhood currently reside in a correction facility, held due to punishment for a crime.

In addition, if you're planning where to retire, the Fayette Corners / Laconia neighborhood in Somerville is a great option to consider. According to NeighborhoodScout's exclusive retirement dream area analysis, it's peaceful and quiet, has above average safety ratings compared to other neighborhoods in TN, offers a wide range of housing options, and has already attracted an enviable mix of college educated seniors. This neighborhood ranks as better for retirement living than 87.6% of the neighborhoods in Tennessee. If you are considering retiring to Tennessee, this is a good neighborhood to look at.

Occupations

The government often provides some of the more stable jobs in the economy. From local, to state, to federal government workers, the government can also be a major employer. What NeighborhoodScout's analysis revealed, is that the Fayette Corners / Laconia neighborhood in particular stands out when compared nationally for the proportion of its working residents who are employed by the government. At 16.1% of its workforce, this neighborhood has a greater concentration of government workers than 97.7% of U.S. neighborhoods.

Furthermore, each year, fewer and fewer Americans make their living as farmers, foresters, or fishers. But the Fayette Corners / Laconia 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 97.6% of all American neighborhoods. This is truly a unique cultural characteristic of this neighborhood.

Car Ownership

We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the Fayette Corners / Laconia neighborhood has a highly unusual pattern of car ownership. Residents of this neighborhood must really love automobiles. NeighborhoodScout's Analysis reveals that 34.3% of the households here have four, five, or more cars. That is more cars per household than in 95.7% of the neighborhoods in the nation.

Real Estate

Unpopulated, and rural, the Fayette Corners / Laconia neighborhood is one of the least crowded neighborhoods in all of America. If you like open space, no traffic, and lots of room, this neighborhood may be just what you are looking for. According to NeighborhoodScout's leading research, this neighborhood is less densely populated than 94.7% 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 Fayette Corners / Laconia neighborhood in Somerville are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 62.9% of U.S. neighborhoods. With 35.8% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 86.2% of U.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 Fayette Corners / Laconia neighborhood, 32.6% of the working population is employed in manufacturing and laborer occupations. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 26.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (18.1%), and 17.1% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

Languages

The most common language spoken in the Fayette Corners / Laconia neighborhood is English, spoken by 98.2% of households.

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 Fayette Corners / Laconia neighborhood in Somerville, TN, residents most commonly identify their ethnicity or ancestry as Irish (11.1%). There are also a number of people of German ancestry (10.9%), and residents who report English roots (5.9%), and some of the residents are also of Cuban ancestry (1.6%).

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 Fayette Corners / Laconia neighborhood spend between 15 and 30 minutes commuting one-way to work (30.7% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (86.4%) 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 (8.3%) . 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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