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Real Estate Prices & Overview

Lower Peters Canyon median real estate price is $1,322,260, which is more expensive than 75.6% of the neighborhoods in California and 94.7% of the neighborhoods in the U.S.

The average rental price in Lower Peters Canyon is currently $3,816, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 66.8% of the neighborhoods in California.

Lower Peters Canyon is an urban neighborhood (based on population density) located in Irvine, California.

Lower Peters Canyon real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Lower Peters Canyon neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

In Lower Peters Canyon, 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 Lower Peters Canyon is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

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.

Real Estate

With a real estate vacancy rate of only 0.0%, the Lower Peters Canyon neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.

In addition, if you like the look and ambience of new homes and newly built neighborhoods, you will love the Lower Peters Canyon neighborhood. A whopping 79.3% of the homes and other residential real estate here were built after 1999, which is a higher proportion of new homes then you will find in 97.1% of the neighborhoods in the U.S. Everything here just feels new.

Occupations

Executives, managers and professionals make up 74.5% of the workforce in the Lower Peters Canyon neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 97.2% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.

People

Do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 76.6% of the adults living in the Lower Peters Canyon neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 96.5% of U.S. neighborhoods. In this way, this neighborhood truly stands out.

In addition, the Lower Peters Canyon neighborhood stands out within California for its college student friendly environment. NeighborhoodScout's analysis reveals that this neighborhood is home to a number of college students, is relatively walkable, and above average in safety. In combination, this makes it stand out for a good place for college students to consider. Because a number of college students live here, this neighborhood may be close to a college campus and offer certain amenities nearby geared towards the student body. While it's not an environment for everyone, ambitious scholars can enjoy seasonal excitement between semesters and school breaks, and parents can rest easy knowing that the area has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 8.4% of college-friendly places to live in CA. In addition to being an excellent choice for college students, this neighborhood is also a very good choice for urban sophisticates.

Diversity

Did you know that the Lower Peters Canyon neighborhood has more Asian and Russian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 50.3% of this neighborhood's residents have Asian ancestry and 5.4% have Russian ancestry.

Lower Peters Canyon is also pretty special linguistically. Significantly, 5.1% of its residents five years old and above primarily speak Korean at home. While this may seem like a small percentage, it is higher than 98.9% 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 Lower Peters Canyon neighborhood in Irvine 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 90.9% of the neighborhoods in America. In addition, 3.5% 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 69.4% 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 Lower Peters Canyon neighborhood, 74.5% 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 9.5% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (9.5%), and 6.5% in clerical, assistant, and tech support 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 Lower Peters Canyon neighborhood is English, spoken by 47.3% of households. Other important languages spoken here include Chinese, Langs. of India, Spanish and Korean.

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 Lower Peters Canyon neighborhood in Irvine, CA, residents most commonly identify their ethnicity or ancestry as Asian (50.3%). There are also a number of people of Mexican ancestry (9.3%), and residents who report Russian roots (5.4%), and some of the residents are also of Arab ancestry (3.5%), along with some English ancestry residents (3.4%), among others. In addition, 42.3% of the residents of this neighborhood were born in another country.

Getting to Work

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 Lower Peters Canyon neighborhood spend between 15 and 30 minutes commuting one-way to work (60.3% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (69.0%) drive alone in a private automobile to get to work. 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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