Lake Barcroft median real estate price is $1,252,429, which is more expensive than 96.5% of the neighborhoods in Virginia and 94.3% of the neighborhoods in the U.S.
The average rental price in Lake Barcroft is currently $3,813, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 89.4% of the neighborhoods in Virginia.
Lake Barcroft is a suburban neighborhood (based on population density) located in Falls Church, Virginia.
Lake Barcroft real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes. Most of the residential real estate is owner occupied. Many of the residences in the Lake Barcroft neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 2000 and the present.
In Lake Barcroft, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Lake Barcroft is very tight compared to the demand for property here.
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the Lake Barcroft neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.
In addition, most neighborhoods have a mixture of ages of homes in them, from new to old, but this neighborhood stands out due to its concentration of residential real estate built in one time frame: from 1940 through 1969, generally considered older, well-established homes. This was a busy time in America for home construction. After the end of World War II, as GIs came home, bought newly built homes on the edges of cities with the help of the GI Bill, and began their families. This housing era generally coincides with the 'Baby Boom' generation (1945 - 1964), and many baby boomers grew up in homes built in this era. But what is so interesting about the Lake Barcroft neighborhood, is that an incredible 85.2% of the homes here were built in this era. So when you walk its streets or drive through, this neighborhood has a look and feel that harkens to that era in American life, a very important slice of Americana.
Furthermore, the Lake Barcroft neighborhood has earned the amazing distinction of having one of the highest rates of detached, single-family homes of any neighborhood in the U.S. With 100.0% of the residential real estate here made up of free-standing single-family homes, there is a greater proportion of single-family homes here than in 98.8% of all neighborhoods in America.
Also of note, one way that the Lake Barcroft neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 98.0% 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.
Wealth makes most things in life easier, and a few things harder. If you are wealthy and enjoy keeping up with the Jones', this neighborhood will interest you. In fact, according to NeighborhoodScout's research, the Lake Barcroft neighborhood is wealthier than 97.9% of the neighborhoods in the United States. Residents here are truly in a unique situation even when compared to other Americans, based on the sheer amount of wealth concentrated here. Even in times of economic downturn, residents of this neighborhood, as a group, suffered less and recovered more quickly. This is indeed a stand-out characteristic of this neighborhood. As one would expect in a considerably wealthy neighborhood such as this, Lake Barcroft also has one of the lowest ratings of child poverty in the nation.
In addition, 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 43.6% 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 98.0% of U.S. neighborhoods, where the average American neighborhood has 13.7% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.
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 Lake Barcroft neighborhood in particular stands out when compared nationally for the proportion of its working residents who are employed by the government. At 26.8% of its workforce, this neighborhood has a greater concentration of government workers than 99.8% of U.S. neighborhoods.
In the Lake Barcroft neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 34.8% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 97.5% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.
Did you know that the Lake Barcroft neighborhood has more Belgian and Welsh ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.1% of this neighborhood's residents have Belgian ancestry and 3.0% have Welsh ancestry.
Lake Barcroft is also pretty special linguistically. Significantly, 1.8% of its residents five years old and above primarily speak Greek at home. While this may seem like a small percentage, it is higher than 98.9% of the neighborhoods in America.
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 Lake Barcroft neighborhood in Falls Church 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 97.9% of the neighborhoods in America. In addition, 0.0% 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 100.0% of America'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 Lake Barcroft neighborhood, 66.7% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is government jobs, whether they are in local, state, or federal positions, with 26.8% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (13.2%), and 12.9% 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 Lake Barcroft neighborhood is English, spoken by 77.5% of households. Other important languages spoken here include Spanish, Arabic and Vietnamese.
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 Lake Barcroft neighborhood in Falls Church, VA, residents most commonly identify their ethnicity or ancestry as German (20.0%). There are also a number of people of English ancestry (10.5%), and residents who report Irish roots (10.1%), and some of the residents are also of Italian ancestry (8.2%), along with some South American ancestry residents (5.4%), among others. In addition, 16.3% of the residents of this neighborhood were born in another country.
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 Lake Barcroft neighborhood spend between 15 and 30 minutes commuting one-way to work (44.2% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (51.4%) 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 (9.7%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
