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Real Estate Prices & Overview

Lakewood / Forest Trails median real estate price is $538,516, which is more expensive than 88.3% of the neighborhoods in Illinois and 72.6% of the neighborhoods in the U.S.

The average rental price in Lakewood / Forest Trails is currently $4,345, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 98.6% of the neighborhoods in Illinois.

Lakewood / Forest Trails is a rural neighborhood (based on population density) located in West Chicago, Illinois.

Lakewood / Forest Trails 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 Lakewood / Forest Trails neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Real estate vacancies in Lakewood / Forest Trails are 3.2%, which is lower than one will find in 78.8% of American neighborhoods. Demand for real estate in Lakewood / Forest Trails is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

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 West Chicago, the Lakewood / Forest Trails neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

One way that the Lakewood / Forest Trails neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 97.3% 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.

People

The Lakewood / Forest Trails neighborhood is considered a solid choice for executive lifestyles. NeighborhoodScout's analysis ranks it as better than 91.1% of Illinois neighborhoods for executive living, based on the wealthy, educated professionals, executives, and managers who choose to reside here, the spacious homes that are prominent features of the real estate in the neighborhood, and the high real estate appreciation rates found here relative to other neighborhoods in the state. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for families with school-aged children and urban sophisticates.

Diversity

Did you know that the Lakewood / Forest Trails neighborhood has more Croatian and Polish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.5% of this neighborhood's residents have Croatian ancestry and 11.4% have Polish ancestry.

Lakewood / Forest Trails is also pretty special linguistically. Significantly, 3.7% of its residents five years old and above primarily speak Tagalog, which is the first language of the Philippine region, at home. While this may seem like a small percentage, it is higher than 96.8% 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 Lakewood / Forest Trails neighborhood in West Chicago 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 94.0% of the neighborhoods in America. In addition, 3.8% 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 68.5% 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 Lakewood / Forest Trails neighborhood, 46.9% 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 25.2% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (14.4%), and 13.1% 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 Lakewood / Forest Trails neighborhood is English, spoken by 85.4% of households. Other important languages spoken here include Tagalog (the first language of the Philippine region) and Polish.

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Lakewood / Forest Trails neighborhood in West Chicago, IL, residents most commonly identify their ethnicity or ancestry as German (20.9%). There are also a number of people of Italian ancestry (12.3%), and residents who report Irish roots (11.8%), and some of the residents are also of Polish ancestry (11.4%), along with some English ancestry residents (9.4%), among others. In addition, 14.1% of the residents of this neighborhood were born in another country.

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 Lakewood / Forest Trails neighborhood spend between 15 and 30 minutes commuting one-way to work (41.0% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (79.6%) 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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