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Real Estate Prices & Overview

Mirror Lake median real estate price is $447,299, which is more expensive than 30.2% of the neighborhoods in Washington and 63.3% of the neighborhoods in the U.S.

The average rental price in Mirror Lake is currently $2,721, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 40.1% of Washington neighborhoods.

Mirror Lake is an urban neighborhood (based on population density) located in Federal Way, Washington.

Mirror Lake real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and small apartment buildings. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Mirror Lake 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 Mirror Lake, the current vacancy rate is 2.8%, which is a lower rate of vacancies than 81.7% of all neighborhoods in the U.S. This means that the housing supply in Mirror Lake 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.

Car Ownership

Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the Mirror Lake neighborhood have a highly unusual car ownership. Residents of this neighborhood must really love automobiles. NeighborhoodScout's Analysis reveals that 39.3% of the households here have four, five, or more cars. That is more cars per household than in 97.9% of the neighborhoods in the nation.

Occupations

NeighborhoodScout's exclusive research identifies the Mirror Lake neighborhood as having one of the highest concentrations of people employed in manufacturing or as laborers of any neighborhood in America. In fact, despite the loss of manufacturing jobs nationally, this neighborhood has 45.9% of its working residents employed in such fields, which is a higher proportion than 97.6% of American neighborhoods.

Diversity

Did you know that the Mirror Lake neighborhood has more Norwegian and Finnish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 12.1% of this neighborhood's residents have Norwegian ancestry and 1.7% have Finnish ancestry.

Mirror Lake is also pretty special linguistically. Significantly, 2.7% of its residents five years old and above primarily speak Russian at home. While this may seem like a small percentage, it is higher than 99.2% of the neighborhoods in America.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Mirror Lake neighborhood in Federal Way are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 66.5% of the neighborhoods in America. In addition, 8.5% 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 54.4% 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 Mirror Lake neighborhood, 45.9% 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 20.2% of the residents employed. Other residents here are employed in executive, management, and professional occupations (18.5%), and 15.4% 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 Mirror Lake neighborhood is English, spoken by 60.7% of households. Other important languages spoken here include Spanish, Russian and Korean.

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 Mirror Lake neighborhood in Federal Way, WA, residents most commonly identify their ethnicity or ancestry as German (17.0%). There are also a number of people of Mexican ancestry (15.8%), and residents who report Norwegian roots (12.1%), and some of the residents are also of English ancestry (7.5%), along with some Asian ancestry residents (7.3%), among others. In addition, 24.3% 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 Mirror Lake neighborhood spend between 30 and 45 minutes commuting one-way to work (27.6% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (77.2%) 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 (8.3%) . 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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