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Real Estate Prices & Overview

Madison Estates median real estate price is $447,522, which is more expensive than 77.6% of the neighborhoods in Texas and 59.8% of the neighborhoods in the U.S.

The average rental price in Madison Estates is currently $2,266, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 75.0% of the neighborhoods in Texas.

Madison Estates is a suburban neighborhood (based on population density) located in Plano, Texas.

Madison Estates 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 Madison Estates neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

Madison Estates has a 9.5% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 60.6% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are 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 Plano, the Madison Estates neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

Of note, 74.5% of the children in this area live in poverty; an extraordinarily high percentage compared to other neighborhoods in the nation. In a nation where approximately one in four children grows up in poverty, this neighborhood stands out for the depth of the problem manifested here.

Real Estate

95.9% of the real estate in the Madison Estates neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.

In addition, if you like the look and ambience of new homes and newly built neighborhoods, you will love the Madison Estates neighborhood. A whopping 79.4% of the homes and other residential real estate here were built after 1999, which is a higher proportion of new homes then you will find in 97.1% of the neighborhoods in the U.S. Everything here just feels new.

Furthermore, the Madison Estates neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 84.8% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.

Also of note, one of the really unique and interesting things about the look and setting of the Madison Estates neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 72.9% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 95.6% of all neighborhoods in America.

Diversity

Did you know that the Madison Estates neighborhood has more Brazilian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.1% of this neighborhood's residents have Brazilian ancestry.

Madison Estates is also pretty special linguistically. Significantly, 1.2% of its residents five years old and above primarily speak Native American languages at home. While this may seem like a small percentage, it is higher than 97.9% 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 Estates neighborhood in Plano are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 79.0% of U.S. neighborhoods. With 74.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 99.0% of U.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 Estates neighborhood, 46.3% 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 21.9% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (20.3%), and 11.4% 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 Estates neighborhood is English, spoken by 64.4% of households. Other important languages spoken here include Spanish and Langs. of India.

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 Madison Estates neighborhood in Plano, TX, residents most commonly identify their ethnicity or ancestry as Mexican (24.5%). There are also a number of people of Asian ancestry (9.0%), and residents who report Sub-Saharan African roots (7.9%), and some of the residents are also of Irish ancestry (4.7%), along with some English ancestry residents (4.0%), among others. In addition, 27.1% 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 Estates neighborhood spend between 15 and 30 minutes commuting one-way to work (38.9% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (70.6%) 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 (12.9%) . 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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