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Real Estate Prices & Overview

Forest Lake median real estate price is $295,217, which is more expensive than 64.1% of the neighborhoods in Alabama and 37.1% of the neighborhoods in the U.S.

The average rental price in Forest Lake is currently $1,161, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 86.2% of Alabama neighborhoods.

Forest Lake is a suburban neighborhood (based on population density) located in Tuscaloosa, Alabama.

Forest Lake 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 single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Forest Lake neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

Vacant apartments or homes are a major fact of life in Forest Lake. The current real estate vacancy rate here is 49.6%. This is higher than the rate of vacancies in 98.7% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (35.9%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually 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 Tuscaloosa, the Forest Lake neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

In a nation where 1 out of every 4 children lives in poverty, the Forest Lake neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

In addition, one of the most interesting things about the Forest Lake neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 69.9% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 99.7% of the neighborhoods in America.

Also, the Forest Lake neighborhood stands out within Alabama for its college student friendly environment. NeighborhoodScout's analysis reveals that this neighborhood is home to a number of college students, is relatively walkable, and above average in safety. In combination, this makes it stand out for a good place for college students to consider. Because a number of college students live here, this neighborhood may be close to a college campus and offer certain amenities nearby geared towards the student body. While it's not an environment for everyone, ambitious scholars can enjoy seasonal excitement between semesters and school breaks, and parents can rest easy knowing that the area has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 7.9% of college-friendly places to live in AL.

Real Estate

Despite all of the residential real estate here in the Forest Lake neighborhood, NeighborhoodScout has discovered that much of it is vacant. In resort or second-home vacation areas, this naturally occurs because homes and apartments are seasonally occupied, and empty for a portion of the year. In non-vacation or resort areas, however, this can be an indicator of property abandonment or a weak real estate market. The vacancy rate here is 49.6%, which is higher than 98.7% of all U.S. neighborhoods.

In addition, one of the really unique and interesting things about the look and setting of the Forest Lake neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 70.3% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 95.1% of all neighborhoods in America.

Occupations

Each year, fewer and fewer Americans make their living as farmers, foresters, or fishers. But the Forest Lake neighborhood truly stands out among U.S. neighborhoods. According to exclusive NeighborhoodScout analysis, this neighborhood has a greater proportion of farmers, foresters, or fishers than 98.2% of all American neighborhoods. This is truly a unique cultural characteristic of this neighborhood.

Furthermore, more people work in manufacturing and as laborers here in the Forest Lake neighborhood than in 95.0% 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 Forest Lake neighborhood has more English and Austrian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 41.4% of this neighborhood's residents have English ancestry and 1.9% have Austrian ancestry.

Migration / Stability

Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Forest Lake neighborhood. In the Forest Lake neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 95.0% 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 Forest Lake neighborhood in Tuscaloosa are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 85.9% of U.S. neighborhoods. In addition, 0.0% 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 100.0% 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 Forest Lake neighborhood, 41.6% of the working population is employed in manufacturing and laborer occupations. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 37.7% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (12.7%), and 7.2% in farming, forestry, or commercial fishing.

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 Forest Lake neighborhood is English, spoken by 87.3% of households. Other important languages spoken here include Spanish, Italian 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 Forest Lake neighborhood in Tuscaloosa, AL, residents most commonly identify their ethnicity or ancestry as English (41.4%). There are also a number of people of German ancestry (7.8%), and residents who report Irish roots (6.8%), and some of the residents are also of Sub-Saharan African ancestry (5.6%), along with some Scottish ancestry residents (4.6%), 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 Forest Lake neighborhood spend under 15 minutes commuting one-way to work (50.9% of working residents), one of the shortest commutes across America.

Here most residents (87.1%) 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 (7.5%) . 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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