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Real Estate Prices & Overview

Lake of the Woods median real estate price is $513,333, which is more expensive than 63.1% of the neighborhoods in Virginia and 67.6% of the neighborhoods in the U.S.

The average rental price in Lake of the Woods is currently $2,670, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 66.5% of the neighborhoods in Virginia.

Lake of the Woods is a suburban neighborhood (based on population density) located in Locust Grove, Virginia.

Lake of the Woods real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes. Most of the residential real estate is owner occupied. Many of the residences in the Lake of the Woods neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.

Real estate vacancies in Lake of the Woods are 5.9%, which is lower than one will find in 60.5% of American neighborhoods. Demand for real estate in Lake of the 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

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

People

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

In addition, if you're planning where to retire, the Lake of the Woods neighborhood in Locust Grove is a great option to consider. According to NeighborhoodScout's exclusive retirement dream area analysis, it's peaceful and quiet, has above average safety ratings compared to other neighborhoods in VA, offers a wide range of housing options, and has already attracted an enviable mix of college educated seniors. This neighborhood ranks as better for retirement living than 88.2% of the neighborhoods in Virginia. If you are considering retiring to Virginia, this is a good neighborhood to look at. In addition to being an excellent choice for active retirees, this neighborhood is also a very good choice for families with school-aged children.

Real Estate

Owner-occupied real estate dominates the Lake of the Woods neighborhood. In fact, according to NeighborhoodScout research, the percentage of residential real estate occupied by its owner is higher here than in 99.4% of neighborhoods in America.

In addition, 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 Lake of the Woods 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 98.7% of all American neighborhoods.

Length of Commute

Whether walking, biking, riding, or driving, the length of one's commute is an important factor for one's quality of life. The Lake of the Woods neighborhood stands out for its commute length, according to NeighborhoodScout's analysis. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the Lake of the Woods neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 10.2% of commuters here travel more than one hour just one-way to work. That is more than two hours per day. This percentage with two-hour + round-trip commutes is higher than NeighborhoodScout found in 95.7% of all neighborhoods in America.

Diversity

Did you know that the Lake of the Woods neighborhood has more Irish and Romanian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 30.0% of this neighborhood's residents have Irish ancestry and 0.8% have Romanian ancestry.

Lake of the Woods is also pretty special linguistically. Significantly, 4.1% of its residents five years old and above primarily speak French at home. While this may seem like a small percentage, it is higher than 96.8% 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 Lake of the Woods neighborhood in Locust Grove are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 81.8% 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.

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 Lake of the Woods neighborhood, 53.2% 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 23.2% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (17.4%), and 7.6% in government jobs, whether they are in local, state, or federal positions.

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 Lake of the Woods neighborhood is English, spoken by 86.7% of households. Other important languages spoken here include Italian and French.

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 Lake of the Woods neighborhood in Locust Grove, VA, residents most commonly identify their ethnicity or ancestry as Irish (30.0%). There are also a number of people of German ancestry (26.5%), and residents who report English roots (14.7%), and some of the residents are also of Asian ancestry (7.5%), along with some Polish ancestry residents (6.0%), among others. In addition, 10.5% 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 Lake of the Woods neighborhood spend between 15 and 30 minutes commuting one-way to work (31.8% of working residents), which is shorter than the time spent commuting to work for most Americans. However, there is also a significant group of residents (10.2%) who commute over an hour in each direction.

Here most residents (85.9%) 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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