Penny median real estate price is $217,830, which is more expensive than 47.1% of the neighborhoods in Kentucky and 23.3% of the neighborhoods in the U.S.
The average rental price in Penny is currently $1,718, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 71.5% of the neighborhoods in Kentucky.
Penny is a rural neighborhood (based on population density) located in Murray, Kentucky.
Penny real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Penny 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.
Penny has a 9.8% 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.
When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.
Whether walking, biking, riding, or driving, the length of one's commute is an important factor for one's quality of life. The Penny neighborhood stands out for its commute length, according to NeighborhoodScout's analysis. Residents of the Penny neighborhood have the pleasure of having one of the shortest commutes to work of any neighborhood in America. 64.3% 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 97.4% of U.S. neighborhoods. Less time commuting means more time for other things in life.
If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 3.6% of residents in the Penny neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 96.7% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.
NeighborhoodScout's analysis shows that the Penny neighborhood has a greater concentration of residents currently enrolled in college than 95.9% of the neighborhoods in the U.S. With 12.0% of the population here attending college, this is very much a college-focused neighborhood.
Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. In the Penny neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 96.9% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
Did you know that the Penny neighborhood has more Welsh and Lithuanian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.4% of this neighborhood's residents have Welsh ancestry and 1.0% have Lithuanian ancestry.
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 Penny neighborhood in Murray are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 69.7% of U.S. neighborhoods. In addition, 5.3% 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 63.6% 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 Penny neighborhood, 39.0% 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 28.4% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (18.2%), and 14.4% in clerical, assistant, and tech support occupations.
The most common language spoken in the Penny neighborhood is English, spoken by 96.1% of households. Some people also speak Spanish (2.6%).
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 Penny neighborhood in Murray, KY, residents most commonly identify their ethnicity or ancestry as English (16.6%). There are also a number of people of Irish ancestry (11.7%), and residents who report German roots (9.1%), and some of the residents are also of Dutch ancestry (2.4%), along with some Mexican ancestry residents (2.4%), among others.
How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Penny neighborhood spend under 15 minutes commuting one-way to work (64.3% of working residents), one of the shortest commutes across America.
Here most residents (86.4%) 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.