Madrid Del Lago / Barcelona median real estate price is $1,356,466, which is more expensive than 77.9% of the neighborhoods in California and 95.3% of the neighborhoods in the U.S.
The average rental price in Madrid Del Lago / Barcelona is currently $5,855, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 98.0% of the neighborhoods in California.
Madrid Del Lago / Barcelona is a suburban neighborhood (based on population density) located in Mission Viejo, California.
Madrid Del Lago / Barcelona real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Madrid Del Lago / Barcelona 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.
In Madrid Del Lago / Barcelona, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Madrid Del Lago / Barcelona is very tight compared to the demand for property here.
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 Mission Viejo, the Madrid Del Lago / Barcelona neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
With a real estate vacancy rate of only 0.0%, the Madrid Del Lago / Barcelona neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.
In addition, most neighborhoods are composed of a mixture of ages of homes, but the Madrid Del Lago / Barcelona 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, 93.9% of the residential real estate here was built in this one time period.
Furthermore, some neighborhoods are made up of apartments. Some consist of row houses, and most - by far - consist of a mixture of housing types. But the Madrid Del Lago / Barcelona neighborhood stands out due to the total dominance of detached, single-family homes here. There are nearly no other types of residential real estate in the neighborhood. In fact, this neighborhood has a higher proportion of single-family homes in its real estate stock than 95.3% of all American neighborhoods.
Of note is NeighborhoodScout's research finding that the Madrid Del Lago / Barcelona neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Madrid Del Lago / Barcelona community truly stands out from the rest in this regard.
In addition, the Madrid Del Lago / Barcelona neighborhood is a great option for families, as revealed by NeighborhoodScout's research on this neighborhood. The combination of top public schools, low crime rates, and owner-occupied single family homes, make this neighborhood among the top 5.2% of family-friendly neighborhoods in the state of California. Many other families also live here, making it easy to socialize and develop a sense of community. In addition, families here highly value education, as is reflected by the strength of the local schools. In addition to being an excellent choice for families with school-aged children, this neighborhood is also a very good choice for active retirees.
Did you know that the Madrid Del Lago / Barcelona neighborhood has more Iranian and Lithuanian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 9.2% of this neighborhood's residents have Iranian ancestry and 2.1% have Lithuanian ancestry.
Madrid Del Lago / Barcelona is also pretty special linguistically. Significantly, 2.3% 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 99.3% 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 Madrid Del Lago / Barcelona neighborhood in Mission Viejo are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 91.6% of the neighborhoods in America. 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 Madrid Del Lago / Barcelona neighborhood, 49.7% of the working population is employed in executive, management, and professional 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 20.8% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (15.4%), and 12.9% in clerical, assistant, and tech support occupations.
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 Madrid Del Lago / Barcelona neighborhood is English, spoken by 72.1% of households. Other important languages spoken here include Spanish, Tagalog (the first language of the Philippine region) and Persian.
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 Madrid Del Lago / Barcelona neighborhood in Mission Viejo, CA, residents most commonly identify their ethnicity or ancestry as Irish (15.1%). There are also a number of people of English ancestry (12.0%), and residents who report Asian roots (10.2%), and some of the residents are also of Irania ancestry (9.2%), along with some Mexican ancestry residents (8.1%), among others. In addition, 23.0% of the residents of this neighborhood were born in another country.
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 Madrid Del Lago / Barcelona neighborhood spend between 15 and 30 minutes commuting one-way to work (52.5% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (79.6%) drive alone in a private automobile to get to work. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.