Five Points median real estate price is $245,777, which is more expensive than 56.7% of the neighborhoods in Kentucky and 28.7% of the neighborhoods in the U.S.
The average rental price in Five Points is currently $1,198, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 81.0% of Kentucky neighborhoods.
Five Points is a suburban neighborhood (based on population density) located in Murray, Kentucky.
Five Points 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 Five Points 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.
Vacant apartments or homes are a major fact of life in Five Points. The current real estate vacancy rate here is 18.0%. This is higher than the rate of vacancies in 83.9% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.
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.
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 Five Points neighborhood stands out for its commute length, according to NeighborhoodScout's analysis. Residents of the Five Points neighborhood have the pleasure of having one of the shortest commutes to work of any neighborhood in America. 83.3% of the residents have a commute time from home to work (one way) of less than fifteen minutes. This is a higher proportion of residents enjoying a short trip to work than NeighborhoodScout found in 99.7% of U.S. neighborhoods. Less time commuting means more time for other things in life.
Occupations
There are more people living in the Five Points neighborhood employed as sales and service workers (53.1%) than almost any neighborhood in the country. From fast-food service workers to major sales accounts, sales and service workers make up the largest proportion of our national employment picture. But despite that size and importance nationally, this neighborhood still stands out as unique due to the dominance of people living here who work in such occupations.
People
NeighborhoodScout's analysis shows that the Five Points neighborhood has a greater concentration of residents currently enrolled in college than 98.5% of the neighborhoods in the U.S. With 29.7% of the population here attending college, this is very much a college-focused neighborhood.
In addition, one of the unique characteristics of the Five Points neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 98.2% of the neighborhoods in America. The Five Points neighborhood also has a greater percentage of children living in poverty (59.6%) than found in 96.8% of all U.S. neighborhoods. Children living in poverty is one of the challenges facing America, and the world, and in this neighborhood in particular, the problem can be considered acute.
Real Estate
Renter-occupied real estate is dominant in the Five Points neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 91.8%, which is higher than 97.3% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.
In addition, three-deckers, duplexes, old Victorian homes cut up into apartments. Independent stores on the corner selling pizza. These are some of the hallmarks of neighborhoods with lots of small 2, 3, and 4 unit apartment buildings. The Five Points neighborhood really stands out in this regard, however, as it is dominated by such small apartment buildings more than nearly any other neighborhood in America. This is a stunning visual and lifestyle example of this type of neighborhood. In fact, 34.8% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 96.0% of America's neighborhoods.
Modes of Transportation
More people in Five Points choose to walk to work each day (11.3%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.
Migration / Stability
The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. In the Five Points neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 98.3% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
Diversity
Did you know that the Five Points neighborhood has more English ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 21.1% of this neighborhood's residents have English ancestry.
Five Points is also pretty special linguistically. Significantly, 3.6% of its residents five years old and above primarily speak Mon-Khmer, which is the dominant language of Cambodia, at home. While this may seem like a small percentage, it is higher than 99.8% of the neighborhoods in America.
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 Five Points neighborhood in Murray are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 98.2% of U.S. neighborhoods. With 59.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 96.8% 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 Five Points neighborhood, 46.9% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 20.0% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (17.9%), and 15.3% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the Five Points neighborhood is English, spoken by 92.2% of households. Some people also speak Mon-Khmer (the dominant language of Cambodia) (3.6%).
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 Five Points neighborhood in Murray, KY, residents most commonly identify their ethnicity or ancestry as English (21.1%). There are also a number of people of German ancestry (13.1%), and residents who report Asian roots (7.3%), and some of the residents are also of Irish ancestry (6.6%), along with some Scottish ancestry residents (2.2%), among others.
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 Five Points neighborhood spend under 15 minutes commuting one-way to work (83.3% of working residents), one of the shortest commutes across America.
Here most residents (64.2%) 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 (21.6%) and 11.3% of residents also hop out the door and walk to work for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
