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Real Estate Prices & Overview

Cherry Lake median real estate price is $487,624, which is more expensive than 58.2% of the neighborhoods in Florida and 64.2% of the neighborhoods in the U.S.

The average rental price in Cherry Lake is currently $3,498, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 78.9% of the neighborhoods in Florida.

Cherry Lake is a suburban neighborhood (based on population density) located in The Villages, Florida.

Cherry Lake 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 owner occupied. Many of the residences in the Cherry Lake neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

Cherry Lake has a 12.8% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 72.2% of American neighborhoods). A relatively large percentage of housing here is seasonally occupied (12.8%), which can occur in some markets dominated by colleges or vacation homes. If you live here year round, you will find many of the homes or apartments are empty for all or a portion of the year.

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 The Villages, the Cherry Lake neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

Of note is NeighborhoodScout's research finding that the Cherry Lake 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 Cherry Lake community truly stands out from the rest in this regard.

In addition, if you're nearing retirement age, or in retirement, the Cherry Lake is an excellent choice for you to consider for top-quality retirement living. This neighborhood is rated by NeighborhoodScout as among the top 8.0% of retiree-friendly neighborhoods in Florida, combining peace and quiet, safety from crime, and offering diverse housing options from which retirees can choose. Maybe it's because of these amenities that a large proportion of the residents here are college educated seniors, mixed with other age groups. For these and other reasons, NeighborhoodScout identifies this neighborhood as a top-notch place to consider if you are thinking of or planning to retire in Florida.

Occupations

The Cherry Lake neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 99.8% of the neighborhoods in America. In fact, 86.5% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.

Real Estate

Homes built from 2000 through today make up a higher proportion of the Cherry Lake neighborhood's real estate landscape than 99.6% of the neighborhoods in America. When you are driving around this neighborhood, you'll notice right away that it is one of the newest built of any, with the smell of fresh paint, and the look of young landscaping nearly everywhere you look. In fact, 95.6% of the residential real estate here is classified as newer. In fact, the concentration of newer homes here is so great that they completely dominate the landscape. In most neighborhoods, there is a mixture of ages of residential real estate, but here it is almost completely built during one time frame: 2000 through today.

In addition, owner-occupied real estate dominates the Cherry Lake neighborhood. In fact, according to NeighborhoodScout research, the percentage of residential real estate occupied by its owner is higher here than in 99.2% of neighborhoods in America.

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 Cherry Lake 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 97.9% of all American neighborhoods.

Diversity

Did you know that the Cherry Lake neighborhood has more Austrian and Scots-Irish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.7% of this neighborhood's residents have Austrian ancestry and 4.6% have Scots-Irish ancestry.

Cherry Lake is also pretty special linguistically. Significantly, 6.1% of its residents five years old and above primarily speak Polish at home. While this may seem like a small percentage, it is higher than 95.1% 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 Cherry Lake neighborhood in The Villages are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 53.8% 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 Cherry Lake neighborhood, 86.5% 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 8.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (4.9%).

Languages

The most common language spoken in the Cherry Lake neighborhood is English, spoken by 96.0% of households. Some people also speak Polish (6.1%).

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 Cherry Lake neighborhood in The Villages, FL, residents most commonly identify their ethnicity or ancestry as Irish (23.4%). There are also a number of people of German ancestry (18.5%), and residents who report English roots (16.5%), and some of the residents are also of Polish ancestry (7.8%), along with some Italian ancestry residents (7.2%), 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 Cherry Lake neighborhood spend between 15 and 30 minutes commuting one-way to work (53.8% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (86.7%) 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.


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