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Real Estate Prices & Overview

Near Southside median real estate price is $216,583, which is more expensive than 41.7% of the neighborhoods in Indiana and 24.4% of the neighborhoods in the U.S.

The average rental price in Near Southside is currently $1,496, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 46.8% of Indiana neighborhoods.

Near Southside is a suburban neighborhood (based on population density) located in Indianapolis, Indiana.

Near Southside real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four 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 Near Southside neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1940 and 1969.

Vacant apartments or homes are a major fact of life in Near Southside. The current real estate vacancy rate here is 34.4%. This is higher than the rate of vacancies in 96.2% 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.

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.

Real Estate

Vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 34.4% of the residential real estate vacant, the Near Southside neighborhood claims the distinction of having a higher vacancy rate than 96.2% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.

In addition, do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The Near Southside neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 62.9% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 97.2% of the neighborhoods in the United States.

People

Astoundingly, the Near Southside neighborhood has one of the highest concentrations of divorcees living here than of any neighborhood, a higher concentration than NeighborhoodScout found in 95.2% of U.S. neighborhoods. This may be because people living here divorce more often than others, or that divorced people move here after they become divorced. If you are divorced, you will be in good company in this particular Indianapolis neighborhood.

In addition, near Southside is ranked among the top 8.6% of neighborhoods for first-time home buyers to consider in the state of Indiana according to NeighborhoodScout's exclusive analysis. Homes here are priced below median housing values in the state, yet maintain moderate appreciation rates compared to other communities. Buying into the Near Southside neighborhood is not only an accessible option but an investment opportunity for many first-time home buyers.

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 Near Southside neighborhood in Indianapolis are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 84.4% of U.S. neighborhoods. With 37.0% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 87.1% of U.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 Near Southside neighborhood, 48.5% 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 22.4% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (20.3%), and 8.8% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Near Southside neighborhood is English, spoken by 93.0% of households. Some people also speak Spanish (3.2%).

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 Near Southside neighborhood in Indianapolis, IN, residents most commonly identify their ethnicity or ancestry as German (23.8%). There are also a number of people of English ancestry (10.6%), and residents who report Irish roots (5.0%), and some of the residents are also of Asian ancestry (4.9%), along with some Mexican ancestry residents (3.4%), among others.

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 Near Southside neighborhood spend under 15 minutes commuting one-way to work (33.0% of working residents), one of the shortest commutes across America.

Here most residents (67.3%) 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 (5.5%) . 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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