Victory Park / Near East median real estate price is $528,829, which is more expensive than 84.5% of the neighborhoods in Texas and 69.1% of the neighborhoods in the U.S.
The average rental price in Victory Park / Near East is currently $3,041, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 93.5% of the neighborhoods in Texas.
Victory Park / Near East is a densely urban neighborhood (based on population density) located in Dallas, Texas.
Victory Park / Near East 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 single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Victory Park / Near East neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
Vacant apartments or homes are a major fact of life in Victory Park / Near East. The current real estate vacancy rate here is 18.1%. This is higher than the rate of vacancies in 84.1% 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.
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 Dallas, the Victory Park / Near East neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Real Estate
The real estate in the Victory Park / Near East 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, 99.2% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 99.8% of American neighborhoods.
In addition, the Victory Park / Near East 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 96.3% 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.
Furthermore, if you like the look and ambience of new homes and newly built neighborhoods, you will love the Victory Park / Near East neighborhood. A whopping 84.5% 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 98.0% of the neighborhoods in the U.S. Everything here just feels new. In fact, the concentration of newer homes here is so great that they completely dominate the landscape. In most neighborhoods, there is a mixture of ages of residential real estate, but here it is almost completely built during one time frame: 2000 through today.
Also of note, renter-occupied real estate is dominant in the Victory Park / Near East neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 94.8%, which is higher than 98.0% 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.
Finally, if you like crowded places, then you will probably enjoy the the Victory Park / Near East neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 95.6% of neighborhoods in the U.S., with 23,073 people per square mile living here.
Occupations
The Victory Park / Near East neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 99.7% of the neighborhoods in America. In fact, 84.4% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
People
One of the most interesting things about the Victory Park / Near East neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 63.7% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 99.3% of the neighborhoods in America.
In addition, the rate of college educated adults in the Victory Park / Near East neighborhood is a unique characteristic of the neighborhood. 85.8% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 34.3% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 99.2% of all U.S. neighborhoods.
Also, a unique characteristic about the people in the Victory Park / Near East neighborhood is that a majority of them are young, single professionals. In fact, there are more young, single professionals in this one community than 98.9% of neighborhoods in the U.S. Here you'll find an active nightlife nearby with lots of opportunities to flirt and find romance.
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 Victory Park / Near East neighborhood. In the Victory Park / Near East neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 98.9% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
Diversity
Significantly, 1.5% of its residents five years old and above primarily speak Greek at home. While this may seem like a small percentage, it is higher than 98.4% 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 Victory Park / Near East neighborhood in Dallas are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 74.2% of the neighborhoods in America. With 20.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 69.3% 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 Victory Park / Near East neighborhood, 84.4% 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 9.4% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (4.6%).
Languages
The most common language spoken in the Victory Park / Near East neighborhood is English, spoken by 90.1% of households. Some people also speak Spanish (3.3%).
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 Victory Park / Near East neighborhood in Dallas, TX, residents most commonly identify their ethnicity or ancestry as English (17.7%). There are also a number of people of Irish ancestry (10.9%), and residents who report Asian roots (8.5%), and some of the residents are also of German ancestry (8.1%), along with some Italian ancestry residents (6.4%), among others. In addition, 13.0% of the residents of this neighborhood were born in another country.
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 Victory Park / Near East neighborhood spend under 15 minutes commuting one-way to work (40.1% of working residents), one of the shortest commutes across America.
Here most residents (62.1%) 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 (9.7%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
