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Real Estate Prices & Overview

Richmond East median real estate price is $176,243, which is more expensive than 34.8% of the neighborhoods in Kentucky and 16.6% of the neighborhoods in the U.S.

The average rental price in Richmond East is currently $1,738, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 74.7% of the neighborhoods in Kentucky.

Richmond East is a suburban neighborhood (based on population density) located in Richmond, Kentucky.

Richmond East real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and small apartment buildings. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Richmond East neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

Real estate vacancies in Richmond East are 5.5%, which is lower than one will find in 63.0% of American neighborhoods. Demand for real estate in Richmond East 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

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

People

Astoundingly, the Richmond East neighborhood has one of the highest concentrations of divorcees living here than of any neighborhood, a higher concentration than NeighborhoodScout found in 99.4% of U.S. neighborhoods. This may be because people living here divorce more often than others, or that divorced people move here after they become divorced. If you are divorced, you will be in good company in this particular Richmond neighborhood.

Occupations

The government often provides some of the more stable jobs in the economy. From local, to state, to federal government workers, the government can also be a major employer. What NeighborhoodScout's analysis revealed, is that the Richmond East neighborhood in particular stands out when compared nationally for the proportion of its working residents who are employed by the government. At 22.1% of its workforce, this neighborhood has a greater concentration of government workers than 99.3% of U.S. neighborhoods.

Diversity

Significantly, 2.4% of its residents five years old and above primarily speak Japanese at home. While this may seem like a small percentage, it is higher than 99.2% of the neighborhoods in America.

The Neighbors

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 Richmond East neighborhood in Richmond are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 93.7% of U.S. neighborhoods. With 37.9% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 87.7% 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 Richmond East neighborhood, 47.0% 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 34.3% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (22.1%), and 16.6% in manufacturing and laborer occupations.

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 Richmond East neighborhood is English, spoken by 89.6% of households. Other important languages spoken here include Spanish and Japanese.

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 Richmond East neighborhood in Richmond, KY, residents most commonly identify their ethnicity or ancestry as English (15.6%). There are also a number of people of Irish ancestry (8.6%), and residents who report German roots (7.9%), and some of the residents are also of Mexican ancestry (7.6%), along with some Asian ancestry residents (3.9%), among others.

Getting to Work

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 Richmond East neighborhood spend between 45 minutes and one hour commuting one-way to work (39.7% of working residents), longer and tougher than most commutes in America.

Here most residents (83.7%) 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 (7.9%) . 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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