University of California Riverside median real estate price is $656,069, which is less expensive than 69.0% of California neighborhoods and 21.7% of all U.S. neighborhoods.
The average rental price in University of California Riverside is currently $3,126, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 52.6% of California neighborhoods.
University of California Riverside is a suburban neighborhood (based on population density) located in Riverside, California.
University of California Riverside real estate is primarily made up of small (studio to two bedroom) apartment complexes/high-rise apartments. Most of the residential real estate is renter occupied. Many of the residences in the University of California Riverside 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 University of California Riverside. The current real estate vacancy rate here is 69.1%. This is higher than the rate of vacancies in 99.7% 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 Riverside, the University of California Riverside neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
In a nation where 1 out of every 4 children lives in poverty, the University of California Riverside neighborhood 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 University of California Riverside neighborhood has a greater concentration of residents currently enrolled in college than 99.9% of the neighborhoods in the U.S. With 98.5% of the population here attending college, this is very much a college-focused neighborhood.
Also, with a nice mix of college students, safety from crime, and decent walkability, the University of California Riverside neighborhood rates highly as a college student friendly place to live, and one that college students and their parents may want to consider. NeighborhoodScout's analysis shows that it rates more highly for a good place for college students to live than 89.6% of the neighborhoods in CA. This often also means that the area has certain amenities and services geared towards college students, from undergraduates to graduate students.
Real Estate
The real estate in the University of California Riverside 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, 100.0% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 99.9% of American neighborhoods.
In addition, the University of California Riverside 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 100.0% 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, 100.0% of the real estate in the University of California Riverside neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America. Despite all of the residential real estate here in the University of California Riverside neighborhood, NeighborhoodScout has discovered that much of it is vacant. In resort or second-home vacation areas, this naturally occurs because homes and apartments are seasonally occupied, and empty for a portion of the year. In non-vacation or resort areas, however, this can be an indicator of property abandonment or a weak real estate market. The vacancy rate here is 69.1%, which is higher than 99.7% of all U.S. neighborhoods.
Also of note, if you like the look and ambience of new homes and newly built neighborhoods, you will love the University of California Riverside neighborhood. A whopping 80.9% 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 97.6% 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.
Occupations
From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the University of California Riverside neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 99.9% of all American neighborhoods.
Modes of Transportation
More people in University of California Riverside choose to walk to work each day (39.2%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.
Migration / Stability
The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. In the University of California Riverside neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 98.7% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
Diversity
Did you know that the University of California Riverside neighborhood has more Asian and Iranian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 32.3% of this neighborhood's residents have Asian ancestry and 0.8% have Iranian ancestry.
University of California Riverside is also pretty special linguistically. Significantly, 10.6% of its residents five years old and above primarily speak Chinese at home. While this may seem like a small percentage, it is higher than 98.0% of the neighborhoods in America.
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 University of California Riverside neighborhood in Riverside are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 100.0% 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.
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 University of California Riverside neighborhood, 63.1% 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 20.7% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (12.6%), and 3.7% in manufacturing and laborer 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 University of California Riverside neighborhood is English, spoken by 47.7% of households. Other important languages spoken here include Spanish, Chinese, Vietnamese and Korean.
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 University of California Riverside neighborhood in Riverside, CA, residents most commonly identify their ethnicity or ancestry as Asian (32.3%). There are also a number of people of Mexican ancestry (28.1%), and residents who report German roots (4.5%), and some of the residents are also of Dutch ancestry (2.0%), along with some English ancestry residents (1.9%), among others. In addition, 10.5% of the residents of this neighborhood were born in another country.
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 University of California Riverside neighborhood spend between 15 and 30 minutes commuting one-way to work (45.4% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (39.2%) hop out the door and walk to work to get to work. In addition, quite a number also drive alone in a private automobile to get to work (24.3%) and 12.5% of residents also carpool with coworkers, friends, or neighbors for their daily commute. This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.
