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Real Estate Prices & Overview

Chestnut median real estate price is $742,222, which is more expensive than 93.6% of the neighborhoods in Texas and 82.1% of the neighborhoods in the U.S.

The average rental price in Chestnut is currently $2,511, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 83.6% of the neighborhoods in Texas.

Chestnut is an urban neighborhood (based on population density) located in Austin, Texas.

Chestnut real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Chestnut neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.

Real estate vacancies in Chestnut are 4.1%, which is lower than one will find in 73.0% of American neighborhoods. Demand for real estate in Chestnut 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 Austin, the Chestnut neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

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 Chestnut neighborhood is a fantastic option for bicycle commuters, as 6.2% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 98.9% of the neighborhoods in America.

Also, in the Chestnut neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 27.6% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 95.3% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.

People

Chestnut has the amazing distinction of housing more same sex couples living together than 97.5% of neighborhoods in the U.S. If you are seeking such a neighborhood, NeighborhoodScout's analysis shows that this is one place that you should consider.

Diversity

Did you know that the Chestnut neighborhood has more Scottish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.7% of this neighborhood's residents have Scottish ancestry.

Chestnut is also pretty special linguistically. Significantly, 2.4% of its residents five years old and above primarily speak German/Yiddish at home. While this may seem like a small percentage, it is higher than 97.2% 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 Chestnut neighborhood in Austin are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 62.4% of the neighborhoods in America. With 24.8% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 75.4% of U.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 Chestnut neighborhood, 66.3% 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 14.1% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (12.4%), and 7.2% in clerical, assistant, and tech support 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 Chestnut neighborhood is English, spoken by 85.1% of households. Other important languages spoken here include Spanish, Italian and German/Yiddish.

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 Chestnut neighborhood in Austin, TX, residents most commonly identify their ethnicity or ancestry as German (14.8%). There are also a number of people of Mexican ancestry (11.5%), and residents who report English roots (9.0%), and some of the residents are also of Irish ancestry (7.2%), along with some Scottish ancestry residents (5.7%), 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 Chestnut neighborhood spend between 15 and 30 minutes commuting one-way to work (35.7% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (59.3%) drive alone in a private automobile to get to work. In addition, quite a number also bicycle to get to work (6.2%) . 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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