Lake Mendota Dr / University Bay Dr median real estate price is $664,655, which is more expensive than 97.1% of the neighborhoods in Wisconsin and 78.7% of the neighborhoods in the U.S.
The average rental price in Lake Mendota Dr / University Bay Dr is currently $1,634, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 70.6% of the neighborhoods in Wisconsin.
Lake Mendota Dr / University Bay Dr is a suburban neighborhood (based on population density) located in Madison, Wisconsin.
Lake Mendota Dr / University Bay Dr real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Lake Mendota Dr / University Bay Dr neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
Real estate vacancies in Lake Mendota Dr / University Bay Dr are 5.3%, which is lower than one will find in 64.2% of American neighborhoods. Demand for real estate in Lake Mendota Dr / University Bay Dr 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.
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.
People
If knowledge is power, then imagine the cumulative power of one neighborhood where many of the adults have earned an advanced degree, such as a Masters, law degree, medical degree, or even a Ph.D. This is certainly the case in the Lake Mendota Dr / University Bay Dr neighborhood, where 68.9% have earned an advanced degree. Compare that to the average neighborhood in America, where just 13.4% of adults have completed a post-graduate degree, and you can see why this neighborhood is a stand out. In fact, this neighborhood has a higher rate of adults with an advanced degree than 100.0% of the neighborhoods in America.
Modes of Transportation
More people ride the bus in this neighborhood each day to get to work than 100.0% of U.S. neighborhoods.
Also, would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the Lake Mendota Dr / University Bay Dr neighborhood is a fantastic option for bicycle commuters, as 9.3% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 99.6% of the neighborhoods in America.
Finally, in the Lake Mendota Dr / University Bay Dr neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 11.3% of residents here. This is a higher proportion of walking commuters than we found in 95.6% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Occupations
The Lake Mendota Dr / University Bay Dr neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 99.5% of the neighborhoods in America. In fact, 82.4% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
Real Estate
The Lake Mendota Dr / University Bay Dr neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 92.0% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
In addition, renter-occupied real estate is dominant in the Lake Mendota Dr / University Bay Dr neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 95.5%, which is higher than 98.1% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.
Furthermore, three-deckers, duplexes, old Victorian homes cut up into apartments. Independent stores on the corner selling pizza. These are some of the hallmarks of neighborhoods with lots of small 2, 3, and 4 unit apartment buildings. The Lake Mendota Dr / University Bay Dr neighborhood really stands out in this regard, however, as it is dominated by such small apartment buildings more than nearly any other neighborhood in America. This is a stunning visual and lifestyle example of this type of neighborhood. In fact, 39.1% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 96.9% of America's neighborhoods.
Car Ownership
We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the Lake Mendota Dr / University Bay Dr neighborhood has a highly unusual pattern of car ownership. 23.9% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 96.2% of U.S. neighborhoods.
Diversity
Did you know that the Lake Mendota Dr / University Bay Dr neighborhood has more Iranian and Arab ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.6% of this neighborhood's residents have Iranian ancestry and 5.3% have Arab ancestry.
Lake Mendota Dr / University Bay Dr is also pretty special linguistically. Significantly, 3.7% of its residents five years old and above primarily speak Persian at home. While this may seem like a small percentage, it is higher than 99.7% 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 Lake Mendota Dr / University Bay Dr neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 98.8% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas. What is also interesting to note, is that the Lake Mendota Dr / University Bay Dr neighborhood has a greater percentage of residents born in another country (60.3%) than are found in 99.2% of all U.S. neighborhoods.
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 Lake Mendota Dr / University Bay Dr neighborhood in Madison are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 87.4% of U.S. neighborhoods. In addition, 10.0% 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 50.8% of America's neighborhoods.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the Lake Mendota Dr / University Bay Dr neighborhood, 82.4% 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 6.2% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (6.1%), and 5.3% 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 Lake Mendota Dr / University Bay Dr neighborhood is English, spoken by 44.0% of households. Other important languages spoken here include Chinese, Korean, Langs. of India and Persian.
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 Lake Mendota Dr / University Bay Dr neighborhood in Madison, WI, residents most commonly identify their ethnicity or ancestry as Asian (38.9%). There are also a number of people of Sub-Saharan African ancestry (10.7%), and residents who report Arab roots (5.3%), and some of the residents are also of Italian ancestry (5.1%), along with some German ancestry residents (5.0%), among others. In addition, 60.3% 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 Lake Mendota Dr / University Bay Dr neighborhood spend between 15 and 30 minutes commuting one-way to work (64.1% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (45.9%) ride the bus to get to work. In addition, quite a number also drive alone in a private automobile to get to work (14.9%) and 11.3% of residents also hop out the door and walk to work for their daily commute. The bus provides a valuable service in the Lake Mendota Dr / University Bay Dr neighborhood of Madison by getting a lot of residents to and from work daily, reducing the costs of commuting and reducing some congestion on the roads as well.
