Lake Hamilton median real estate price is $444,252, which is more expensive than 88.7% of the neighborhoods in Arkansas and 55.9% of the neighborhoods in the U.S.
The average rental price in Lake Hamilton is currently $1,414, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 43.6% of Arkansas neighborhoods.
Lake Hamilton is a rural neighborhood (based on population density) located in Hot Springs, Arkansas.
Lake Hamilton real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and mobile homes. Most of the residential real estate is owner occupied. Many of the residences in the Lake Hamilton neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.
Vacant apartments or homes are a major fact of life in Lake Hamilton. The current real estate vacancy rate here is 35.5%. This is higher than the rate of vacancies in 96.6% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (23.8%). 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.
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.
Vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 35.5% of the residential real estate vacant, the Lake Hamilton neighborhood claims the distinction of having a higher vacancy rate than 96.6% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.
Did you know that the Lake Hamilton neighborhood has more Welsh ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.4% of this neighborhood's residents have Welsh ancestry.
Lake Hamilton is also pretty special linguistically. Significantly, 1.0% of its residents five years old and above primarily speak Urdu, which is the national language of Pakistan, at home. While this may seem like a small percentage, it is higher than 97.3% of the neighborhoods in America.
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 Lake Hamilton neighborhood in Hot Springs are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 62.9% of U.S. neighborhoods. With 15.0% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 60.1% 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 Lake Hamilton neighborhood, 33.5% 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 29.6% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (20.0%), and 16.8% in clerical, assistant, and tech support occupations.
The most common language spoken in the Lake Hamilton neighborhood is English, spoken by 99.0% of households.
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 Hamilton neighborhood in Hot Springs, AR, residents most commonly identify their ethnicity or ancestry as English (8.1%). There are also a number of people of Irish ancestry (8.1%), and residents who report German roots (5.4%), and some of the residents are also of French ancestry (3.1%), along with some Scottish ancestry residents (2.4%), among others.
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 Lake Hamilton neighborhood spend between 15 and 30 minutes commuting one-way to work (45.9% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (83.9%) 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 (10.9%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.