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Real Estate Prices & Overview

Parkwood median real estate price is $465,363, which is more expensive than 54.1% of the neighborhoods in Arizona and 61.9% of the neighborhoods in the U.S.

The average rental price in Parkwood is currently $3,047, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 78.6% of the neighborhoods in Arizona.

Parkwood is a suburban neighborhood (based on population density) located in Phoenix, Arizona.

Parkwood real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes. Most of the residential real estate is owner occupied. Many of the residences in the Parkwood 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 Parkwood, the current vacancy rate is 1.5%, which is a lower rate of vacancies than 88.6% of all neighborhoods in the U.S. This means that the housing supply in Parkwood is very tight compared to the demand for property here.

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

Real Estate

Most neighborhoods are composed of a mixture of ages of homes, but the Parkwood stands out as rather unique in having nearly all of its residential real estate built in one time period, namely between 1970 and 1999, generally considered to be established, but not old housing. What you'll sense when you look around or drive the streets of this neighborhood is that many of the residences look the same because of this similarity of age. In fact, 96.3% of the residential real estate here was built in this one time period.

In addition, the Parkwood neighborhood has earned the amazing distinction of having one of the highest rates of detached, single-family homes of any neighborhood in the U.S. With 100.0% of the residential real estate here made up of free-standing single-family homes, there is a greater proportion of single-family homes here than in 98.8% of all neighborhoods in America.

People

An extraordinary 21.0% of the residents of the Parkwood neighborhood are currently enrolled in college. This is such a large part of life in this neighborhood that the neighborhood changes a great deal with the change of semesters and is far quieter during the summer when many students are away.

In addition, the Parkwood neighborhood stands out within Arizona 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 7.6% of college-friendly places to live in AZ.

Diversity

Did you know that the Parkwood neighborhood has more Swedish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 6.1% of this neighborhood's residents have Swedish ancestry.

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 Parkwood neighborhood in Phoenix are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 51.4% of the neighborhoods in America. With 25.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 76.6% 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 Parkwood neighborhood, 34.2% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 30.0% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (23.5%), and 12.3% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Parkwood neighborhood is English, spoken by 85.9% of households. Some people also speak Spanish (9.4%).

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 Parkwood neighborhood in Phoenix, AZ, residents most commonly identify their ethnicity or ancestry as German (24.7%). There are also a number of people of English ancestry (16.8%), and residents who report Mexican roots (15.2%), and some of the residents are also of Irish ancestry (9.7%), along with some Swedish ancestry residents (6.1%), 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 Parkwood neighborhood spend under 15 minutes commuting one-way to work (38.3% of working residents), one of the shortest commutes across America.

Here most residents (69.1%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (7.7%) and 7.5% of residents also carpool with coworkers, friends, or neighbors for their daily commute. 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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