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Real Estate Prices & Overview

Lynnwood median real estate price is $1,060,265, which is more expensive than 93.0% of the neighborhoods in Virginia and 91.3% of the neighborhoods in the U.S.

The average rental price in Lynnwood is currently $4,522, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 96.8% of the neighborhoods in Virginia.

Lynnwood is a suburban neighborhood (based on population density) located in Virginia Beach, Virginia.

Lynnwood 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 Lynnwood 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.

In Lynnwood, the current vacancy rate is 2.0%, which is a lower rate of vacancies than 86.6% of all neighborhoods in the U.S. This means that the housing supply in Lynnwood 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 Virginia Beach, the Lynnwood neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

One way that the Lynnwood neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 99.5% 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.

People

Astoundingly, NeighborhoodScout's research reveals that this single neighborhood has a higher concentration of married couples living here than 99.5% of all U.S. neighborhoods. Whether they have school-aged children or not, married couples are the rule in the Lynnwood neighborhood. If you are a married couple, you may find many people here with a similar lifestyle, and perhaps common interests. But if you are single, you might not find many other singles here.

In addition, wealth makes most things in life easier, and a few things harder. If you are wealthy and enjoy keeping up with the Jones', this neighborhood will interest you. In fact, according to NeighborhoodScout's research, the Lynnwood neighborhood is wealthier than 99.4% of the neighborhoods in the United States. Residents here are truly in a unique situation even when compared to other Americans, based on the sheer amount of wealth concentrated here. Even in times of economic downturn, residents of this neighborhood, as a group, suffered less and recovered more quickly. This is indeed a stand-out characteristic of this neighborhood.

Also, a majority of the adults in the Lynnwood neighborhood are wealthy and educated executives. They own stately homes that tend to maintain high real estate appreciation rates. Their upper-level careers keep them busy, but allow them to live comfortably. If you're an executive and want to keep similar company, consider settling in this neighborhood, rated as an executive lifestyle "best choice" neighborhood for Virginia by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 97.9% of the neighborhoods in Virginia. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for families with school-aged children, active retirees and urban sophisticates.

Occupations

The Lynnwood neighborhood stands out nationally for having a greater proportion of its residents active in the military than 96.5% of other U.S. neighborhoods. If you come here, you will notice military people active in their jobs, going to and from work, and in plain clothes out and about the neighborhood.

Furthermore, executives, managers and professionals make up 71.6% of the workforce in the Lynnwood neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 96.3% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.

Diversity

Did you know that the Lynnwood neighborhood has more Belgian and South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.7% of this neighborhood's residents have Belgian ancestry and 7.1% have South American 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 Lynnwood neighborhood in Virginia Beach 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 99.4% of the neighborhoods in America. In addition, 7.0% 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 58.7% 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 Lynnwood neighborhood, 71.6% 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 18.5% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (5.9%), and 4.0% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Lynnwood neighborhood is English, spoken by 90.2% of households. Some people also speak Spanish (7.2%).

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 Lynnwood neighborhood in Virginia Beach, VA, residents most commonly identify their ethnicity or ancestry as English (17.7%). There are also a number of people of Irish ancestry (14.8%), and residents who report German roots (11.9%), and some of the residents are also of South American ancestry (7.1%), along with some Belgian ancestry residents (4.7%), 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 Lynnwood neighborhood spend between 15 and 30 minutes commuting one-way to work (57.2% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (73.1%) 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 (5.3%) . 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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