VCU / Virginia Commonwealth University median real estate price is $605,315, which is more expensive than 71.8% of the neighborhoods in Virginia and 75.0% of the neighborhoods in the U.S.
The average rental price in VCU / Virginia Commonwealth University is currently $2,351, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 47.4% of Virginia neighborhoods.
VCU / Virginia Commonwealth University is a densely urban neighborhood (based on population density) located in Richmond, Virginia.
VCU / Virginia Commonwealth University 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 VCU / Virginia Commonwealth University neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.
Vacant apartments or homes are a major fact of life in VCU / Virginia Commonwealth University. The current real estate vacancy rate here is 22.0%. This is higher than the rate of vacancies in 89.1% 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.
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.
People
One of the unique characteristics of the VCU / Virginia Commonwealth University neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 99.9% of the neighborhoods in America. Also of note is NeighborhoodScout's research finding that the VCU / Virginia Commonwealth University neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the VCU / Virginia Commonwealth University community truly stands out from the rest in this regard.
In addition, an extraordinary 88.9% of the residents of the VCU / Virginia Commonwealth University 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.
Also, one of the really interesting characteristics about the VCU / Virginia Commonwealth University 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 0.6% of college-friendly places to live in the state of Virginia.
Occupations
There are more people living in the VCU / Virginia Commonwealth University neighborhood employed as sales and service workers (41.2%) 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.
Modes of Transportation
Would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the VCU / Virginia Commonwealth University neighborhood is a fantastic option for bicycle commuters, as 6.7% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 99.0% of the neighborhoods in America.
Also, more people in VCU / Virginia Commonwealth University choose to walk to work each day (23.5%) 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.
Real Estate
Renter-occupied real estate is dominant in the VCU / Virginia Commonwealth University neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 96.1%, which is higher than 98.3% 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, the real estate in the VCU / Virginia Commonwealth University neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 86.0% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 97.6% of American neighborhoods.
Furthermore, if you like crowded places, then you will probably enjoy the the VCU / Virginia Commonwealth University neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 96.6% of neighborhoods in the U.S., with 27,791 people per square mile living here. Being a walkable neighborhood can help increase property values for the simple reason that people enjoy it and value it. To put it plainly, despite our love affair with the automobile, American's enjoy taking to the streets, sidewalks, paths, and courtyards of a place to get a coffee, relax, and take in the sights and sounds. And, according to NeighborhoodScout's exclusive and first quantitative walkable score index, the VCU / Virginia Commonwealth University neighborhood is one of the most walkable neighborhoods in America.
Also of note, the VCU / Virginia Commonwealth University neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 82.3% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
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 VCU / Virginia Commonwealth University neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.4% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
Diversity
Significantly, 3.5% of its residents five years old and above primarily speak Vietnamese at home. While this may seem like a small percentage, it is higher than 97.1% 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 VCU / Virginia Commonwealth University 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 99.9% of U.S. neighborhoods. In addition, 0.0% 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 100.0% of America's neighborhoods.
A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.
In the VCU / Virginia Commonwealth University neighborhood, 58.8% 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 clerical, assistant, and tech support occupations, with 20.2% of the residents employed. Other residents here are employed in executive, management, and professional occupations (19.0%).
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 VCU / Virginia Commonwealth University neighborhood is English, spoken by 77.8% of households. Other important languages spoken here include Spanish, Chinese, Vietnamese and Langs. of India.
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 VCU / Virginia Commonwealth University neighborhood in Richmond, VA, residents most commonly identify their ethnicity or ancestry as Asian (18.4%). There are also a number of people of German ancestry (12.5%), and residents who report Irish roots (10.6%), and some of the residents are also of Italian ancestry (8.4%), along with some Spanish ancestry residents (3.9%), 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 VCU / Virginia Commonwealth University neighborhood spend under 15 minutes commuting one-way to work (53.0% of working residents), one of the shortest commutes across America.
Here most residents (40.4%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (23.5%) and 6.7% of residents also bicycle 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.
