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Real Estate Prices & Overview

Penfield Junction median real estate price is $182,404, which is more expensive than 39.7% of the neighborhoods in Ohio and 19.2% of the neighborhoods in the U.S.

The average rental price in Penfield Junction is currently $1,100, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 84.0% of Ohio neighborhoods.

Penfield Junction is a suburban neighborhood (based on population density) located in Lorain, Ohio.

Penfield Junction 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 occupied by a mixture of owners and renters. Many of the residences in the Penfield Junction neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Penfield Junction has a 10.6% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 64.3% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.

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 Lorain, the Penfield Junction neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Occupations

More people work in manufacturing and as laborers here in the Penfield Junction neighborhood than in 97.3% of the neighborhoods in America. Despite the loss of manufacturing jobs across the nation, this neighborhood remains a place where, compared to other parts of the country, you will find many laborers and manufacturers.

Diversity

Did you know that the Penfield Junction neighborhood has more Polish and Portuguese ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 16.7% of this neighborhood's residents have Polish ancestry and 3.3% have Portuguese ancestry.

Penfield Junction is also pretty special linguistically. Significantly, 15.3% 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 99.4% of the neighborhoods in America.

Migration / Stability

The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. In the Penfield Junction neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 95.1% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

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 Penfield Junction neighborhood in Lorain are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 92.1% of U.S. neighborhoods. With 31.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 82.2% of U.S. neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Penfield Junction neighborhood, 45.3% of the working population is employed in manufacturing and laborer 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 27.2% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (15.9%), and 11.5% in executive, management, and professional 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 Penfield Junction neighborhood is English, spoken by 82.8% of households. Other important languages spoken here include Spanish, Polish and Italian.

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 Penfield Junction neighborhood in Lorain, OH, residents most commonly identify their ethnicity or ancestry as German (23.0%). There are also a number of people of Polish ancestry (16.7%), and residents who report Irish roots (13.9%), and some of the residents are also of Mexican ancestry (12.7%), along with some Puerto Rican ancestry residents (11.5%), 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 Penfield Junction neighborhood spend between 15 and 30 minutes commuting one-way to work (58.3% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (84.7%) 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 (12.6%) . 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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