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Real Estate Prices & Overview

Franklin Farms / Templeton median real estate price is $366,621, which is more expensive than 40.2% of the neighborhoods in Virginia and 48.7% of the neighborhoods in the U.S.

The average rental price in Franklin Farms / Templeton is currently $1,854, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 68.5% of Virginia neighborhoods.

Franklin Farms / Templeton is a remote neighborhood (based on population density) located in Petersburg, Virginia.

Franklin Farms / Templeton real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and mobile homes. Most of the residential real estate is owner occupied. Many of the residences in the Franklin Farms / Templeton 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.

Real estate vacancies in Franklin Farms / Templeton are 5.5%, which is lower than one will find in 63.1% of American neighborhoods. Demand for real estate in Franklin Farms / Templeton 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 Petersburg, the Franklin Farms / Templeton neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Modes of Transportation

While most Americans do drive to work alone each day, the Franklin Farms / Templeton neighborhood stands out by having 89.7% of commuters doing so, which is a higher proportion of people driving alone to work than NeighborhoodScout found in 96.1% of all American neighborhoods.

Diversity

Did you know that the Franklin Farms / Templeton neighborhood has more Croatian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.0% of this neighborhood's residents have Croatian ancestry.

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 Franklin Farms / Templeton neighborhood in Petersburg are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 69.6% of the neighborhoods in America. In addition, 9.1% 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 53.0% 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 Franklin Farms / Templeton neighborhood, 43.8% 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 28.3% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (17.7%), and 10.2% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Franklin Farms / Templeton neighborhood is English, spoken by 95.5% of households. Some people also speak Spanish (4.0%).

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Franklin Farms / Templeton neighborhood in Petersburg, VA, residents most commonly identify their ethnicity or ancestry as English (8.2%). There are also a number of people of German ancestry (7.8%), and residents who report Irish roots (6.5%), and some of the residents are also of Mexican ancestry (6.0%), along with some Scottish ancestry residents (2.5%), among others.

Getting to Work

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 Franklin Farms / Templeton neighborhood spend between 15 and 30 minutes commuting one-way to work (42.3% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (89.7%) 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.


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