Spring Cove median real estate price is $483,780, which is more expensive than 81.2% of the neighborhoods in Illinois and 64.6% of the neighborhoods in the U.S.
The average rental price in Spring Cove is currently $3,848, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 96.0% of the neighborhoods in Illinois.
Spring Cove is a suburban neighborhood (based on population density) located in Schaumburg, Illinois.
Spring Cove real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Spring Cove neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.
In Spring Cove, 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 Spring Cove is very tight compared to the demand for property here.
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 Schaumburg, the Spring Cove neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
With a real estate vacancy rate of only 0.0%, the Spring Cove 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.
Did you know that the Spring Cove neighborhood has more Greek and Polish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.1% of this neighborhood's residents have Greek ancestry and 17.2% have Polish ancestry.
Spring Cove is also pretty special linguistically. Significantly, 2.6% of its residents five years old and above primarily speak Japanese at home. While this may seem like a small percentage, it is higher than 99.3% 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 Spring Cove neighborhood in Schaumburg are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 81.7% of the neighborhoods in America. With 10.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 50.1% of U.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 Spring Cove neighborhood, 59.7% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 14.3% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (13.7%), and 12.3% in manufacturing and laborer occupations.
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 Spring Cove neighborhood is English, spoken by 70.8% of households. Other important languages spoken here include Spanish, Langs. of India, Polish and Japanese.
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 Spring Cove neighborhood in Schaumburg, IL, residents most commonly identify their ethnicity or ancestry as German (20.3%). There are also a number of people of Italian ancestry (18.9%), and residents who report Polish roots (17.2%), and some of the residents are also of Asian ancestry (12.5%), along with some Irish ancestry residents (9.1%), among others. In addition, 18.6% 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 Spring Cove neighborhood spend between 15 and 30 minutes commuting one-way to work (38.7% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (73.8%) 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 (7.7%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.