Chevy Chase median real estate price is $690,435, which is more expensive than 98.2% of the neighborhoods in Kentucky and 79.8% of the neighborhoods in the U.S.
The average rental price in Chevy Chase is currently $1,420, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 53.6% of Kentucky neighborhoods.
Chevy Chase is an urban neighborhood (based on population density) located in Lexington, Kentucky.
Chevy Chase 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 Chevy Chase neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.
Chevy Chase has a 10.1% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 62.0% 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.
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 Lexington, the Chevy Chase neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Of note is NeighborhoodScout's research finding that the Chevy Chase neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Chevy Chase community truly stands out from the rest in this regard.
In addition, if knowledge is power, then imagine the cumulative power of one neighborhood where many of the adults have earned an advanced degree, such as a Masters, law degree, medical degree, or even a Ph.D. This is certainly the case in the Chevy Chase neighborhood, where 45.3% have earned an advanced degree. Compare that to the average neighborhood in America, where just 13.4% of adults have completed a post-graduate degree, and you can see why this neighborhood is a stand out. In fact, this neighborhood has a higher rate of adults with an advanced degree than 98.5% of the neighborhoods in America.
Also, one of the really interesting characteristics about the Chevy Chase 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 3.1% of college-friendly places to live in the state of Kentucky. In addition to being an excellent choice for college students, this neighborhood is also a very good choice for highly educated executives.
Finally, the types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 50.0%. This is a higher percent living alone than we found in 95.6% of all U.S. neighborhoods. Often residents who live alone are new arrivals to an area who are single, and often senior citizens who have lost a spouse.
If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 2.8% of residents in the Chevy Chase neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 95.3% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.
Did you know that the Chevy Chase neighborhood has more Scottish and Scots-Irish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 9.5% of this neighborhood's residents have Scottish ancestry and 5.3% have Scots-Irish ancestry.
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 Chevy Chase neighborhood in Lexington are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 40.8% of the neighborhoods in America. 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 Chevy Chase neighborhood, 68.2% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 18.7% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (7.8%), and 5.3% in manufacturing and laborer occupations.
The most common language spoken in the Chevy Chase neighborhood is English, spoken by 95.6% of households. Some people also speak Spanish (3.7%).
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 Chevy Chase neighborhood in Lexington, KY, residents most commonly identify their ethnicity or ancestry as German (25.5%). There are also a number of people of English ancestry (24.5%), and residents who report Irish roots (18.4%), and some of the residents are also of Scottish ancestry (9.5%), along with some Italian ancestry residents (6.9%), among others.
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 Chevy Chase neighborhood spend under 15 minutes commuting one-way to work (47.7% of working residents), one of the shortest commutes across America.
Here most residents (72.8%) drive alone in a private automobile to get to work. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.