Old Town / Reservoir median real estate price is $604,407, which is more expensive than 70.2% of the neighborhoods in Virginia and 73.5% of the neighborhoods in the U.S.
The average rental price in Old Town / Reservoir is currently $1,822, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 69.9% of Virginia neighborhoods.
Old Town / Reservoir is a suburban neighborhood (based on population density) located in Harrisonburg, Virginia.
Old Town / Reservoir 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 renter occupied. Many of the residences in the Old Town / Reservoir neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.
In Old Town / Reservoir, the current vacancy rate is 1.6%, which is a lower rate of vacancies than 88.7% of all neighborhoods in the U.S. This means that the housing supply in Old Town / Reservoir is very tight compared to the demand for property here.
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.
One of the really interesting characteristics about the Old Town / Reservoir neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 0.5% of college-friendly places to live in the state of Virginia.
In addition, an extraordinary 22.4% of the residents of the Old Town / Reservoir neighborhood are currently enrolled in college. This is such a large part of life in this neighborhood that the neighborhood changes a great deal with the change of semesters and is far quieter during the summer when many students are away.
In the Old Town / Reservoir neighborhood, carpooling is still a popular way to get to and from work. NeighborhoodScout's analysis reveals that 27.5% of commuters carpool here, which is more than in 98.1% of all U.S. neighborhoods.
Also, more people in Old Town / Reservoir choose to walk to work each day (12.7%) 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.
Significantly, 2.7% of its residents five years old and above primarily speak African languages at home. While this may seem like a small percentage, it is higher than 96.7% of the neighborhoods in America.
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 Old Town / Reservoir neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 95.3% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
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 Old Town / Reservoir neighborhood in Harrisonburg are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 66.3% of U.S. neighborhoods. With 18.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 66.2% 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 Old Town / Reservoir neighborhood, 39.6% 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 31.7% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (22.4%), and 4.7% in clerical, assistant, and tech support occupations.
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 Old Town / Reservoir neighborhood is English, spoken by 53.3% of households. Other important languages spoken here include Spanish, African languages and Italian.
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 Old Town / Reservoir neighborhood in Harrisonburg, VA, residents most commonly identify their ethnicity or ancestry as Irish (12.0%). There are also a number of people of German ancestry (10.2%), and residents who report English roots (8.4%), and some of the residents are also of Sub-Saharan African ancestry (6.2%), along with some Puerto Rican ancestry residents (5.3%), among others. In addition, 25.2% of the residents of this neighborhood were born in another country.
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 Old Town / Reservoir neighborhood spend under 15 minutes commuting one-way to work (52.3% of working residents), one of the shortest commutes across America.
Here most residents (49.8%) 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 (27.5%) and 12.7% 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.