Oak median real estate price is $329,010, which is less expensive than 81.1% of Oregon neighborhoods and 56.9% of all U.S. neighborhoods.
The average rental price in Oak is currently $1,818, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 60.1% of Oregon neighborhoods.
Oak is a suburban neighborhood (based on population density) located in Albany, Oregon.
Oak 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 Oak neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.
In Oak, the current vacancy rate is 2.7%, which is a lower rate of vacancies than 81.9% of all neighborhoods in the U.S. This means that the housing supply in Oak is very tight compared to the demand for property here.
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 Albany, the Oak neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Of note is NeighborhoodScout's research finding that the Oak 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 Oak community truly stands out from the rest in this regard.
In addition, there is an especially high percentage of incarcerated people (2.1%) living in the Oak neighborhood.
Did you know that the Oak neighborhood has more Greek ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.3% of this neighborhood's residents have Greek ancestry.
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 Oak neighborhood in Albany are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 44.0% 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 Oak neighborhood, 37.3% 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 22.4% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (19.8%), and 18.7% in clerical, assistant, and tech support occupations.
The most common language spoken in the Oak neighborhood is English, spoken by 83.0% of households. Some people also speak Spanish (16.0%).
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 Oak neighborhood in Albany, OR, residents most commonly identify their ethnicity or ancestry as Mexican (19.2%). There are also a number of people of German ancestry (13.7%), and residents who report English roots (12.6%), and some of the residents are also of Irish ancestry (6.8%), along with some French ancestry residents (5.5%), among others.
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 Oak neighborhood spend under 15 minutes commuting one-way to work (40.8% of working residents), one of the shortest commutes across America.
Here most residents (82.0%) 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 (12.1%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.