Gardenside / Colony Neighborhood, Lexington, KY

Current Market Stats for Gardenside / Colony Neighborhood

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Real Estate Prices

Gardenside median real estate price is $231,286, which is more expensive than 65.9% of the neighborhoods in Kentucky and 35.0% of the neighborhoods in the U.S.

The average rental price in Gardenside is currently $1,346, based on NeighborhoodScout’s exclusive analysis. Rents here are currently lower in price than 49.6% of Kentucky neighborhoods.

Gardenside is a suburban neighborhood (based on population density) located in Lexington, Kentucky.

Gardenside 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 Gardenside neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

In Gardenside, the current vacancy rate is 0.6%, which is a lower rate of vacancies than 92.9% of all neighborhoods in the U.S. This means that the housing supply in Gardenside is very tight compared to the demand for property here.

Notable & Unique

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 Lexington, the Gardenside neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

 

For many reasons, Gardenside is rated by NeighborhoodScout as one of the top 1.4% of ideal neighborhoods for first-time home buyers in the state of Kentucky. Homes here are priced below median housing values in the state, yet the neighborhood has a track record according to NeighborhoodScout’s exclusive neighborhood home appreciation rates of above average real estate appreciation over the last five years compared to other KY neighborhoods, protecting your investment in your first home, while simultaneously making it less risky for your lender. Not only does this neighborhood stand out for combining price and home value stability or increases, it also is a neighborhood with a high quality resident population according exclusive data, meaning this is likely a good place to buy, live, and enjoy. While many first time home buyers focus purely on low cost and convenient location, which can risk your investment in your first home and put you in a less than desirable neighborhood, this neighborhood is a true standout for a lot of reasons, and definitely worth a look if you are a first time home buyer.

In addition, with more than 2.0% of residents living with a same sex partner, Gardenside is truly a neighborhood that stands out from the rest in this regard. In fact, exclusive analysis by NeighborhoodScout reveals that this neighborhood has a greater concentration of same sex couples than 96.8% of U.S. neighborhoods.

Occupations

 

It used to be that most Americans lived on the farm, or otherwise made their living from the land, the forests, or the sea. With global trade and an economy increasingly based on providing services to one another, fewer people farm, fish or harvest timber now than at any time in American history. But according to NeighborhoodScout’s leading analysis, the Gardenside neighborhood stands apart from most American neighborhood due to the proportion of its residents still working in these fields. With 3.9% of the workforce so employed, this neighborhood has a greater concentration of such workers than 95.4% of U.S. neighborhoods.

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 Gardenside neighborhood in Lexington are lower-middle income, making it a below average income neighborhood. NeighborhoodScout’s research shows that this neighborhood has an income lower than 63.6% of U.S. neighborhoods. In addition, 8.1% 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 56.2% 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 Gardenside neighborhood, 46.2% 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 21.8% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (19.4%), and 8.8% in clerical, assistant, and tech support occupations.

Cost Of Living

Homes for sale in Gardenside / Colony

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Listing Data last updated: 28th February, 2024 08:00 MST
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