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Real Estate Prices & Overview

Memorial Field median real estate price is $187,117, which is more expensive than 46.9% of the neighborhoods in Arkansas and 18.7% of the neighborhoods in the U.S.

The average rental price in Memorial Field is currently $1,432, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 60.7% of the neighborhoods in Arkansas.

Memorial Field is a suburban neighborhood (based on population density) located in Hot Springs, Arkansas.

Memorial Field real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two 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 Memorial Field neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

Vacant apartments or homes are a major fact of life in Memorial Field. The current real estate vacancy rate here is 17.0%. This is higher than the rate of vacancies in 82.1% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (8.7%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.

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 Hot Springs, the Memorial Field neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Length of Commute

Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. Residents of the Memorial Field neighborhood have the pleasure of having one of the shortest commutes to work of any neighborhood in America. 67.5% 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 98.0% of U.S. neighborhoods. Less time commuting means more time for other things in life.

Occupations

From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the Memorial Field neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 97.5% of all American neighborhoods.

People

Single parenting is hard. But you don't have to tell the Memorial Field neighborhood about it; they already know. 19.4% of this neighborhood's households are run by single mothers, which is a higher concentration than NeighborhoodScout found in 96.6% of American neighborhoods. Further NeighborhoodScout research showed strong statistical correlations among high rates of children living in single parent households, and neighborhood crime, particularly violent crime, neighborhood poverty, and, importantly, the percentage of low weight births and rates of infant mortality.

In addition, according to NeighborhoodScout's research, Memorial Field is better suited for first-time home buyers than 89.9% of neighborhoods in the state. Most homes here are priced below the state's median house value, yet maintain comparably good appreciation rates over the last decade relative to other neighborhoods in Arkansas. Along with an exclusive multi-metric measure of neighborhood quality developed by NeighborhoodScout that scores high here in this neighborhood, this means that buying into the neighborhood is not only an accessible option but considered a decent first time home buyer choice for building equity in your first home, while being in a quality neighborhood

Diversity

Did you know that the Memorial Field neighborhood has more African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 10.0% of this neighborhood's residents have African ancestry.

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 Memorial Field neighborhood in Hot Springs are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 88.4% of U.S. neighborhoods. With 52.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 94.8% 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 Memorial Field neighborhood, 41.8% 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 executive, management, and professional occupations, with 27.6% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (17.4%), and 13.2% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Memorial Field neighborhood is English, spoken by 86.0% of households. Some people also speak Spanish (12.4%).

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 Memorial Field neighborhood in Hot Springs, AR, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (10.0%). There are also a number of people of African ancestry (10.0%), and residents who report Irish roots (8.7%), and some of the residents are also of Mexican ancestry (8.2%), along with some English ancestry residents (8.2%), among others. In addition, 10.2% 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 Memorial Field neighborhood spend under 15 minutes commuting one-way to work (67.5% of working residents), one of the shortest commutes across America.

Here most residents (70.8%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (20.2%) and 5.1% of residents also hop out the door and walk to work 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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