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Real Estate Prices & Overview

Gratz Park / Central Downtown median real estate price is $321,083, which is more expensive than 76.9% of the neighborhoods in Kentucky and 43.4% of the neighborhoods in the U.S.

The average rental price in Gratz Park / Central Downtown is currently $1,474, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 47.3% of Kentucky neighborhoods.

Gratz Park / Central Downtown is an urban neighborhood (based on population density) located in Lexington, Kentucky.

Gratz Park / Central Downtown real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Gratz Park / Central Downtown 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 2000 and the present.

Home and apartment vacancy rates are 9.5% in Gratz Park / Central Downtown. NeighborhoodScout analysis shows that this rate is lower than 40.6% of the neighborhoods in the nation, approximately near the middle range for vacancies.

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 Lexington, the Gratz Park / Central Downtown neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Modes of Transportation

More people in Gratz Park / Central Downtown choose to walk to work each day (32.4%) 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.

People

One of the unique characteristics of the Gratz Park / Central Downtown neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 98.4% of the neighborhoods in America.

In addition, one of the most interesting things about the Gratz Park / Central Downtown neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 57.9% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 98.4% of the neighborhoods in America.

Also, neighborhoodScout's analysis shows that the Gratz Park / Central Downtown neighborhood has a greater concentration of residents currently enrolled in college than 95.8% of the neighborhoods in the U.S. With 11.9% of the population here attending college, this is very much a college-focused neighborhood.

Finally, the Gratz Park / Central Downtown neighborhood stands out within Kentucky for its college student friendly environment. NeighborhoodScout's analysis reveals that this neighborhood is home to a number of college students, is relatively walkable, and above average in safety. In combination, this makes it stand out for a good place for college students to consider. Because a number of college students live here, this neighborhood may be close to a college campus and offer certain amenities nearby geared towards the student body. While it's not an environment for everyone, ambitious scholars can enjoy seasonal excitement between semesters and school breaks, and parents can rest easy knowing that the area has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 9.9% of college-friendly places to live in KY.

Length of Commute

Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the Gratz Park / Central Downtown neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 11.7% of commuters here travel more than one hour just one-way to work. That is more than two hours per day. This percentage with two-hour + round-trip commutes is higher than NeighborhoodScout found in 97.0% of all neighborhoods in America.

Real Estate

84.0% of the real estate in the Gratz Park / Central Downtown neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.

Diversity

Did you know that the Gratz Park / Central Downtown neighborhood has more Scots-Irish and Yugoslav ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.1% of this neighborhood's residents have Scots-Irish ancestry and 0.6% have Yugoslav ancestry.

Gratz Park / Central Downtown is also pretty special linguistically. Significantly, 1.2% of its residents five years old and above primarily speak Russian at home. While this may seem like a small percentage, it is higher than 96.7% of the neighborhoods in America.

Migration / Stability

Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. In the Gratz Park / Central Downtown neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 96.5% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

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 Gratz Park / Central Downtown neighborhood in Lexington are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 98.4% of U.S. neighborhoods. In addition, 6.4% 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 60.4% of America'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 Gratz Park / Central Downtown neighborhood, 46.7% 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 23.5% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (16.3%), and 12.9% in clerical, assistant, and tech support 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 Gratz Park / Central Downtown neighborhood is English, spoken by 93.6% of households. Other important languages spoken here include Spanish and Italian.

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 Gratz Park / Central Downtown neighborhood in Lexington, KY, residents most commonly identify their ethnicity or ancestry as German (13.5%). There are also a number of people of English ancestry (13.4%), and residents who report Irish roots (10.5%), and some of the residents are also of Scots-Irish ancestry (4.1%), along with some Mexican ancestry residents (2.9%), 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 Gratz Park / Central Downtown neighborhood spend under 15 minutes commuting one-way to work (46.8% of working residents), one of the shortest commutes across America. However, there is also a significant group of residents (11.7%) who commute over an hour in each direction.

Here most residents (45.9%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (32.4%) and 11.3% of residents also carpool with coworkers, friends, or neighbors 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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Schools include:
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