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Real Estate Prices & Overview

Oil City median real estate price is $221,017, which is more expensive than 49.8% of the neighborhoods in Kentucky and 25.2% of the neighborhoods in the U.S.

The average rental price in Oil City is currently $1,280, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 70.6% of Kentucky neighborhoods.

Oil City is a rural neighborhood (based on population density) located in Glasgow, Kentucky.

Oil City real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and small apartment buildings. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Oil City neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Oil City has a 12.0% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 69.5% 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

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

Length of Commute

Whether walking, biking, riding, or driving, the length of one's commute is an important factor for one's quality of life. The Oil City neighborhood stands out for its commute length, according to NeighborhoodScout's analysis. Residents of the Oil City neighborhood have the pleasure of having one of the shortest commutes to work of any neighborhood in America. 66.1% 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 97.7% of U.S. neighborhoods. Less time commuting means more time for other things in life.

People

Of particular note, 4.0% of the people in the Oil City neighborhood currently reside in a correction facility, held due to punishment for a crime.

In addition, if you are planning to retire in Kentucky, this neighborhood should be on your must-see list. For many reasons, Oil City may be considered a retiree's dream neighborhood. According to NeighborhoodScout's exclusive analysis and metrics, it's peaceful and quiet, has above average safety from crime compared to other neighborhoods in Kentucky, while also offering a diverse range of housing options. This, along with the vibrant mix of very educated seniors and other age groups who choose to live here, makes the neighborhood more retiree-friendly than 97.2% of neighborhoods in KY. If a Kentucky retirement is in your future, this neighborhood should be one of the places you visit.

Diversity

Significantly, 0.6% of its residents five years old and above primarily speak Japanese at home. While this may seem like a small percentage, it is higher than 95.2% of the neighborhoods in America.

The Neighbors

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 Oil City neighborhood in Glasgow are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 79.9% of U.S. neighborhoods. With 20.9% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 70.2% of U.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 Oil City neighborhood, 41.0% 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 22.5% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (20.8%), and 15.0% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Oil City neighborhood is English, spoken by 90.2% of households. Some people also speak Spanish (4.8%).

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Oil City neighborhood in Glasgow, KY, residents most commonly identify their ethnicity or ancestry as English (18.9%). There are also a number of people of Mexican ancestry (6.1%), and residents who report German roots (5.7%), and some of the residents are also of Irish ancestry (5.3%), along with some Asian ancestry residents (3.3%), among others.

Getting to Work

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 Oil City neighborhood spend under 15 minutes commuting one-way to work (66.1% of working residents), one of the shortest commutes across America.

Here most residents (80.6%) 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 (17.3%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


Real Estate includes:
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Rental Market
Housing Market Details
Neighborhood Setting
Economics & Demographics include:
Lifestyle & Special Character
Household Types
Commute To Work
Migration & Mobility
Race & Ethnic Diversity
Employment Industries & Occupations
Income & Unemployment Rate
Higher Education Attainment
Crime includes:
Neighborhood Crime Index
Crimes Per Square Mile
Property Crime Comparison
Violent Crime Comparison
Schools include:
School Ratings
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