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Real Estate Prices & Overview

Market Street at Town Center / Savoy at Reston Town Center median real estate price is $735,789, which is more expensive than 80.0% of the neighborhoods in Virginia and 81.3% of the neighborhoods in the U.S.

The average rental price in Market Street at Town Center / Savoy at Reston Town Center is currently $3,353, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 88.2% of the neighborhoods in Virginia.

Market Street at Town Center / Savoy at Reston Town Center is an urban neighborhood (based on population density) located in Reston, Virginia.

Market Street at Town Center / Savoy at Reston Town Center 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 townhomes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Market Street at Town Center / Savoy at Reston Town Center neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

Market Street at Town Center / Savoy at Reston Town Center has a 13.6% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 74.3% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.

Notable & Unique Neighborhood Characteristics

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.

Occupations

The Market Street at Town Center / Savoy at Reston Town Center neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 99.6% of the neighborhoods in America. In fact, 84.0% 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

Some neighborhoods have residents that are more educated than others. But in this neighborhood there is a dramatic difference. NeighborhoodScout's exclusive analysis reveals that 43.0% of the adults here have earned a Masters degree, medical degree, Ph.D. or law degree. This is a higher rate of people with a graduate degree than is found in 98.0% of U.S. neighborhoods, where the average American neighborhood has 13.4% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.

In addition, the types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 55.9%. This is a higher percent living alone than we found in 97.9% of all U.S. neighborhoods. Often residents who live alone are new arrivals to an area who are single, and often senior citizens who have lost a spouse.

Modes of Transportation

In the Market Street at Town Center / Savoy at Reston Town Center neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 31.9% 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 97.8% 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.

Real Estate

One of the really unique and interesting things about the look and setting of the Market Street at Town Center / Savoy at Reston Town Center neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 83.6% 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 97.2% of all neighborhoods in America.

Diversity

Did you know that the Market Street at Town Center / Savoy at Reston Town Center neighborhood has more Russian and Austrian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.3% of this neighborhood's residents have Russian ancestry and 1.2% have Austrian ancestry.

Market Street at Town Center / Savoy at Reston Town Center is also pretty special linguistically. Significantly, 1.3% of its residents five years old and above primarily speak Persian at home. While this may seem like a small percentage, it is higher than 98.4% of the neighborhoods in America.

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 Market Street at Town Center / Savoy at Reston Town Center neighborhood in Reston are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 91.6% of the neighborhoods in America. With 41.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 90.0% 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 Market Street at Town Center / Savoy at Reston Town Center neighborhood, 84.0% 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 10.4% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (8.8%), and 5.2% 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 Market Street at Town Center / Savoy at Reston Town Center neighborhood is English, spoken by 77.2% of households. Other important languages spoken here include Spanish, Langs. of India and Tagalog (the first language of the Philippine region).

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 Market Street at Town Center / Savoy at Reston Town Center neighborhood in Reston, VA, residents most commonly identify their ethnicity or ancestry as German (15.3%). There are also a number of people of Asian ancestry (14.6%), and residents who report English roots (13.3%), and some of the residents are also of Irish ancestry (9.7%), along with some Italian ancestry residents (7.7%), among others. In addition, 21.7% of the residents of this neighborhood were born in another country.

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 Market Street at Town Center / Savoy at Reston Town Center neighborhood spend between 15 and 30 minutes commuting one-way to work (38.6% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (53.5%) 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 (7.8%) and 6.1% of residents also carpool with coworkers, friends, or neighbors 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.


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