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Real Estate Prices & Overview

Sherwood Forest / Palmer Woods median real estate price is $491,617, which is more expensive than 87.2% of the neighborhoods in Michigan and 64.2% of the neighborhoods in the U.S.

The average rental price in Sherwood Forest / Palmer Woods is currently $1,689, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 43.9% of Michigan neighborhoods.

Sherwood Forest / Palmer Woods is a suburban neighborhood (based on population density) located in Detroit, Michigan.

Sherwood Forest / Palmer Woods real estate is primarily made up of large (four, five or more bedroom) to medium sized (three or four bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Sherwood Forest / Palmer Woods 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.

Real estate vacancies in Sherwood Forest / Palmer Woods are 5.1%, which is lower than one will find in 66.0% of American neighborhoods. Demand for real estate in Sherwood Forest / Palmer Woods is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

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 Detroit, the Sherwood Forest / Palmer Woods neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

In a nation where 1 out of every 4 children lives in poverty, the Sherwood Forest / Palmer Woods neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

In addition, if you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the Sherwood Forest / Palmer Woods neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 99.6% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the Sherwood Forest / Palmer Woods neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for highly educated executives.

Also, if knowledge is power, then imagine the cumulative power of one neighborhood where many of the adults have earned an advanced degree, such as a Masters, law degree, medical degree, or even a Ph.D. This is certainly the case in the Sherwood Forest / Palmer Woods neighborhood, where 44.2% have earned an advanced degree. Compare that to the average neighborhood in America, where just 13.4% of adults have completed a post-graduate degree, and you can see why this neighborhood is a stand out. In fact, this neighborhood has a higher rate of adults with an advanced degree than 98.2% of the neighborhoods in America.

Real Estate

One way that the Sherwood Forest / Palmer Woods neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 99.6% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.

In addition, the Sherwood Forest / Palmer Woods neighborhood has earned the amazing distinction of having one of the highest rates of detached, single-family homes of any neighborhood in the U.S. With 97.2% of the residential real estate here made up of free-standing single-family homes, there is a greater proportion of single-family homes here than in 95.1% of all neighborhoods in America.

Diversity

Did you know that the Sherwood Forest / Palmer Woods neighborhood has more Sub-Saharan African and African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 20.0% of this neighborhood's residents have Sub-Saharan African ancestry and 10.2% have African ancestry.

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 Sherwood Forest / Palmer Woods neighborhood in Detroit 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 91.4% 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.

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 Sherwood Forest / Palmer Woods neighborhood, 65.8% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 14.1% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (11.6%), and 8.5% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Sherwood Forest / Palmer Woods neighborhood is English, spoken by 95.6% of households.

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 Sherwood Forest / Palmer Woods neighborhood in Detroit, MI, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (20.0%). There are also a number of people of African ancestry (10.2%), and residents who report German roots (7.4%), and some of the residents are also of Polish ancestry (5.4%), along with some English ancestry residents (3.6%), among others.

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 Sherwood Forest / Palmer Woods neighborhood spend between 15 and 30 minutes commuting one-way to work (47.1% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (74.8%) 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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