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Real Estate Prices & Overview

Homelake / City Center median real estate price is $242,275, which is less expensive than 93.3% of Colorado neighborhoods and 71.3% of all U.S. neighborhoods.

The average rental price in Homelake / City Center is currently $1,004, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 99.5% of Colorado neighborhoods.

Homelake / City Center is a rural neighborhood (based on population density) located in Monte Vista, Colorado.

Homelake / City Center real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Homelake / City Center neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Homelake / City Center has a 10.5% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 63.9% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are 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 Monte Vista, the Homelake / City Center neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Diversity

Significantly, 1.7% of its residents five years old and above primarily speak German/Yiddish at home. While this may seem like a small percentage, it is higher than 95.4% of the neighborhoods in America.

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 Homelake / City Center neighborhood in Monte Vista are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 74.2% of U.S. neighborhoods. With 18.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 66.5% of U.S. neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Homelake / City Center neighborhood, 39.6% 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 23.0% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (22.7%), and 11.3% in clerical, assistant, and tech support 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 Homelake / City Center neighborhood is English, spoken by 72.6% of households. Other important languages spoken here include Spanish and Italian.

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Homelake / City Center neighborhood in Monte Vista, CO, residents most commonly identify their ethnicity or ancestry as Mexican (29.5%). There are also a number of people of Spanish ancestry (23.1%), and residents who report German roots (15.2%), and some of the residents are also of Italian ancestry (9.1%), along with some English ancestry residents (7.3%), 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 Homelake / City Center neighborhood spend under 15 minutes commuting one-way to work (51.1% of working residents), one of the shortest commutes across America.

Here most residents (78.8%) 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 (11.9%) . 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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