University of Pennsylvania median real estate price is $320,099, which is more expensive than 60.1% of the neighborhoods in Pennsylvania and 43.3% of the neighborhoods in the U.S.
The average rental price in University of Pennsylvania is currently $4,552, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 99.2% of the neighborhoods in Pennsylvania.
University of Pennsylvania is a densely urban neighborhood (based on population density) located in Philadelphia, Pennsylvania.
University of Pennsylvania 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 University of Pennsylvania neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.
Home and apartment vacancy rates are 9.1% in University of Pennsylvania. NeighborhoodScout analysis shows that this rate is lower than 42.4% of the neighborhoods in the nation, approximately near the middle range for vacancies.
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
People
One of the unique characteristics of the University of Pennsylvania neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 96.9% of the neighborhoods in America. In a nation where 1 out of every 4 children lives in poverty, the University of Pennsylvania neighborhood also stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.
In addition, neighborhoodScout's analysis shows that the University of Pennsylvania neighborhood has a greater concentration of residents currently enrolled in college than 99.6% of the neighborhoods in the U.S. With 76.1% of the population here attending college, this is very much a college-focused neighborhood.
Also, with a nice mix of college students, safety from crime, and decent walkability, the University of Pennsylvania neighborhood rates highly as a college student friendly place to live, and one that college students and their parents may want to consider. NeighborhoodScout's analysis shows that it rates more highly for a good place for college students to live than 88.2% of the neighborhoods in PA. This often also means that the area has certain amenities and services geared towards college students, from undergraduates to graduate students.
Modes of Transportation
In the University of Pennsylvania neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 40.9% of residents here. This is a higher proportion of walking commuters than we found in 99.6% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Also, a unique way of commuting is simply not to. And in the University of Pennsylvania neighborhood, analysis shows that 36.1% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 99.0% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.
Real Estate
Renter-occupied real estate is dominant in the University of Pennsylvania neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 100.0%, which is higher than 99.3% 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, one of the really unique and interesting things about the look and setting of the University of Pennsylvania neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 96.2% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 99.2% of all neighborhoods in America.
Furthermore, if you like the look and ambience of new homes and newly built neighborhoods, you will love the University of Pennsylvania neighborhood. A whopping 76.1% of the homes and other residential real estate here were built after 1999, which is a higher proportion of new homes then you will find in 96.9% of the neighborhoods in the U.S. Everything here just feels new.
Also of note, the University of Pennsylvania 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 84.6% 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.
Car Ownership
American households most often have a car, and regularly they have two or three. But households in the University of Pennsylvania neighborhood buck this trend. 54.8% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.0% of U.S. neighborhoods.
Length of Commute
Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. Residents of the University of Pennsylvania neighborhood have the pleasure of having one of the shortest commutes to work of any neighborhood in America. 58.2% 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 95.4% of U.S. neighborhoods. Less time commuting means more time for other things in life.
Migration / Stability
Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the University of Pennsylvania neighborhood. In the University of Pennsylvania neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.7% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
Diversity
Significantly, 9.5% of its residents five years old and above primarily speak Chinese at home. While this may seem like a small percentage, it is higher than 97.7% 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 University of Pennsylvania neighborhood in Philadelphia are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 96.9% 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.
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 University of Pennsylvania neighborhood, 51.5% 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 29.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (13.9%), and 5.2% 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 University of Pennsylvania neighborhood is English, spoken by 75.5% of households. Other important languages spoken here include Chinese, Spanish and Langs. of India.
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 University of Pennsylvania neighborhood in Philadelphia, PA, residents most commonly identify their ethnicity or ancestry as Asian (23.1%). There are also a number of people of Italian ancestry (5.6%), and residents who report Sub-Saharan African roots (4.6%), and some of the residents are also of Irish ancestry (4.3%), along with some Polish ancestry residents (3.3%), among others. In addition, 18.4% 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 University of Pennsylvania neighborhood spend under 15 minutes commuting one-way to work (58.2% of working residents), one of the shortest commutes across America.
Here most residents (40.9%) hop out the door and walk to work to get to work. In addition, quite a number also drive alone in a private automobile to get to work (16.3%) . This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.
