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Real Estate Prices & Overview

Oakwood median real estate price is $173,092, which is less expensive than 70.7% of Michigan neighborhoods and 82.5% of all U.S. neighborhoods.

The average rental price in Oakwood is currently $1,546, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 48.5% of Michigan neighborhoods.

Oakwood is a suburban neighborhood (based on population density) located in Kalamazoo, Michigan.

Oakwood real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Oakwood neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

Real estate vacancies in Oakwood are 5.1%, which is lower than one will find in 65.5% of American neighborhoods. Demand for real estate in Oakwood 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

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

With more than 1.8% of residents living with a same sex partner, Oakwood is truly a neighborhood that stands out from the rest in this regard. In fact, exclusive analysis by NeighborhoodScout reveals that this neighborhood has a greater concentration of same sex couples than 96.1% of U.S. neighborhoods.

Diversity

Did you know that the Oakwood neighborhood has more Dutch and Lebanese ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 8.8% of this neighborhood's residents have Dutch ancestry and 1.7% have Lebanese ancestry.

Oakwood is also pretty special linguistically. Significantly, 6.4% of its residents five years old and above primarily speak Polish at home. While this may seem like a small percentage, it is higher than 95.4% 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 Oakwood neighborhood in Kalamazoo are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 73.4% of U.S. neighborhoods. With 12.8% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 55.6% 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 Oakwood neighborhood, 28.3% 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 27.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (26.4%), and 18.3% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Oakwood neighborhood is English, spoken by 93.0% of households. Some people also speak Polish (6.4%).

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 Oakwood neighborhood in Kalamazoo, MI, residents most commonly identify their ethnicity or ancestry as German (26.4%). There are also a number of people of English ancestry (13.5%), and residents who report Irish roots (8.9%), and some of the residents are also of Dutch ancestry (8.8%), along with some Polish ancestry residents (5.1%), among others.

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 Oakwood neighborhood spend between 15 and 30 minutes commuting one-way to work (48.8% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (82.4%) 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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