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Real Estate Prices & Overview

Peaks Suburban Addition South median real estate price is $352,514, which is more expensive than 60.3% of the neighborhoods in Texas and 46.6% of the neighborhoods in the U.S.

The average rental price in Peaks Suburban Addition South is currently $1,673, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 58.8% of Texas neighborhoods.

Peaks Suburban Addition South is an urban neighborhood (based on population density) located in Dallas, Texas.

Peaks Suburban Addition South 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 Peaks Suburban Addition South neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1940 and 1969.

Peaks Suburban Addition South has a 14.3% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 76.4% 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 Dallas, the Peaks Suburban Addition South neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Modes of Transportation

Would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the Peaks Suburban Addition South neighborhood is a fantastic option for bicycle commuters, as 4.2% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 97.5% of the neighborhoods in America.

Also, our research shows that more people carpool to work here in the Peaks Suburban Addition South (22.1%) than in 95.1% of the neighborhoods in America.

Real Estate

90.4% of the real estate in the Peaks Suburban Addition South neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.

In addition, the Peaks Suburban Addition South neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 86.3% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.

Diversity

Significantly, 0.9% of its residents five years old and above primarily speak Japanese at home. While this may seem like a small percentage, it is higher than 96.9% of the neighborhoods in America.

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 Peaks Suburban Addition South neighborhood in Dallas are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 80.4% of U.S. neighborhoods. With 41.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 90.0% 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 Peaks Suburban Addition South neighborhood, 40.6% 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 32.8% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (18.1%), and 8.5% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Peaks Suburban Addition South neighborhood is Spanish, spoken by 53.7% of households. Some people also speak English (42.8%).

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 Peaks Suburban Addition South neighborhood in Dallas, TX, residents most commonly identify their ethnicity or ancestry as Mexican (45.4%). There are also a number of people of Irish ancestry (4.6%), and residents who report German roots (4.2%), and some of the residents are also of Asian ancestry (2.4%), along with some Puerto Rican ancestry residents (2.4%), among others. In addition, 29.5% of the residents of this neighborhood were born in another country.

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 Peaks Suburban Addition South neighborhood spend between 15 and 30 minutes commuting one-way to work (39.9% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (54.8%) 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 (22.1%) and 5.7% of residents also ride the bus 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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