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Real Estate Prices & Overview

Madison Park West median real estate price is $635,035, which is more expensive than 88.9% of the neighborhoods in North Carolina and 77.0% of the neighborhoods in the U.S.

The average rental price in Madison Park West is currently $3,434, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 97.0% of the neighborhoods in North Carolina.

Madison Park West is a suburban neighborhood (based on population density) located in Charlotte, North Carolina.

Madison Park West 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 Madison Park West neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 2000 and the present.

In Madison Park West, the current vacancy rate is 1.3%, which is a lower rate of vacancies than 90.4% of all neighborhoods in the U.S. This means that the housing supply in Madison Park West is very tight compared to the demand for property here.

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 Charlotte, the Madison Park West 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 Madison Park West neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

In addition, do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 73.3% of the adults living in the Madison Park West neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 95.4% of U.S. neighborhoods. In this way, this neighborhood truly stands out.

Also, the Madison Park West neighborhood is considered a solid choice for executive lifestyles. NeighborhoodScout's analysis ranks it as better than 90.5% of North Carolina neighborhoods for executive living, based on the wealthy, educated professionals, executives, and managers who choose to reside here, the spacious homes that are prominent features of the real estate in the neighborhood, and the high real estate appreciation rates found here relative to other neighborhoods in the state.

Occupations

The Madison Park West neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 98.4% of the neighborhoods in America. In fact, 77.3% 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.

Diversity

Did you know that the Madison Park West neighborhood has more English and British ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 33.4% of this neighborhood's residents have English ancestry and 3.3% have British ancestry.

Madison Park West is also pretty special linguistically. Significantly, 2.2% of its residents five years old and above primarily speak Greek at home. While this may seem like a small percentage, it is higher than 99.3% 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 Madison Park West neighborhood in Charlotte 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 86.4% 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.

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 Madison Park West neighborhood, 77.3% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 8.7% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (8.5%), and 5.5% in manufacturing and laborer 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 Madison Park West neighborhood is English, spoken by 87.6% of households. Other important languages spoken here include Spanish, Polish and Greek.

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 Madison Park West neighborhood in Charlotte, NC, residents most commonly identify their ethnicity or ancestry as English (33.4%). There are also a number of people of Irish ancestry (15.8%), and residents who report German roots (9.6%), and some of the residents are also of Sub-Saharan African ancestry (6.2%), along with some African ancestry residents (6.2%), among others. In addition, 12.8% 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 Madison Park West neighborhood spend between 15 and 30 minutes commuting one-way to work (41.4% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (75.3%) 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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