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.
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 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. In a nation where 1 out of every 4 children lives in poverty, the VCU / Virginia Commonwealth University 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 VCU / Virginia Commonwealth University neighborhood has a greater concentration of residents currently enrolled in college than 99.8% of the neighborhoods in the U.S. With 88.9% of the population here attending college, this is very much a college-focused neighborhood.
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
From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the VCU / Virginia Commonwealth University neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 99.8% of all American neighborhoods.
Modes of Transportation
If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 6.7% of residents in the VCU / Virginia Commonwealth University neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 99.0% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.
Also, in the VCU / Virginia Commonwealth University 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 23.5% of residents here. This is a higher proportion of walking commuters than we found in 98.6% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Real Estate
96.1% of the real estate in the VCU / Virginia Commonwealth University neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
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. Even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The VCU / Virginia Commonwealth University neighborhood is among the top 5% of American neighborhoods in terms of walkability.
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
Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. 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.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
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
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.
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.
