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Real Estate Prices & Overview

Lake Buchanan median real estate price is $332,880, which is more expensive than 33.0% of the neighborhoods in Florida and 44.5% of the neighborhoods in the U.S.

The average rental price in Lake Buchanan is currently $2,013, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 76.4% of Florida neighborhoods.

Lake Buchanan is a densely urban neighborhood (based on population density) located in Orlando, Florida.

Lake Buchanan 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 small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Lake Buchanan 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 Buchanan. The current real estate vacancy rate here is 36.8%. This is higher than the rate of vacancies in 96.9% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually 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 Orlando, the Lake Buchanan neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Modes of Transportation

If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 4.2% of residents in the Lake Buchanan neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 97.5% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.

Also, in the Lake Buchanan neighborhood, carpooling is still a popular way to get to and from work. NeighborhoodScout's analysis reveals that 24.2% of commuters carpool here, which is more than in 96.6% of all U.S. neighborhoods.

Finally, more people ride the bus in this neighborhood each day to get to work than 96.4% of U.S. neighborhoods.

Real Estate

84.1% of the real estate in the Lake Buchanan neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America. Despite all of the residential real estate here in the Lake Buchanan neighborhood, NeighborhoodScout has discovered that much of it is vacant. In resort or second-home vacation areas, this naturally occurs because homes and apartments are seasonally occupied, and empty for a portion of the year. In non-vacation or resort areas, however, this can be an indicator of property abandonment or a weak real estate market. The vacancy rate here is 36.8%, which is higher than 96.9% of all U.S. neighborhoods.

Occupations

There are more people living in the Lake Buchanan neighborhood employed as sales and service workers (60.5%) than almost any neighborhood in the country. From fast-food service workers to major sales accounts, sales and service workers make up the largest proportion of our national employment picture. But despite that size and importance nationally, this neighborhood still stands out as unique due to the dominance of people living here who work in such occupations.

Car Ownership

Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the Lake Buchanan neighborhood have a highly unusual car ownership. 23.1% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 96.0% of U.S. neighborhoods.

Diversity

Did you know that the Lake Buchanan neighborhood has more Lebanese and Haitian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.5% of this neighborhood's residents have Lebanese ancestry and 21.5% have Haitian ancestry.

Lake Buchanan is also pretty special linguistically. Significantly, 21.8% of its residents five years old and above primarily speak French at home. While this may seem like a small percentage, it is higher than 99.8% 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 Lake Buchanan neighborhood in Orlando are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 93.2% of U.S. neighborhoods. With 39.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 88.7% of U.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 Lake Buchanan neighborhood, 39.5% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 24.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (21.6%), and 14.6% in executive, management, and professional 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 Lake Buchanan neighborhood is English, spoken by 57.6% of households. Other important languages spoken here include French and Spanish.

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Lake Buchanan neighborhood in Orlando, FL, residents most commonly identify their ethnicity or ancestry as Haitian (21.5%). There are also a number of people of Puerto Rican ancestry (11.8%), and residents who report Sub-Saharan African roots (7.4%), and some of the residents are also of Arab ancestry (5.7%), along with some Lebanese ancestry residents (5.5%), among others. In addition, 30.9% of the residents of this neighborhood were born in another country.

Getting to Work

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 Buchanan neighborhood spend between 15 and 30 minutes commuting one-way to work (43.1% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (46.3%) 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 (24.2%) and 12.9% 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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