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Real Estate Prices & Overview

Virginia Ave median real estate price is $193,273, which is more expensive than 40.2% of the neighborhoods in Kentucky and 19.7% of the neighborhoods in the U.S.

The average rental price in Virginia Ave is currently $1,608, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 65.6% of the neighborhoods in Kentucky.

Virginia Ave is an urban neighborhood (based on population density) located in Lexington, Kentucky.

Virginia Ave 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 Virginia Ave neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Virginia Ave has a 13.4% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 73.8% 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

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.

People

The Virginia Ave neighborhood stands out for having an average per capita income lower than 99.2% of the neighborhoods in the United States. Also of note is NeighborhoodScout's research finding that the Virginia Ave 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 Virginia Ave community truly stands out from the rest in this regard.

In addition, an extraordinary 39.4% of the residents of the Virginia Ave neighborhood are currently enrolled in college. This is such a large part of life in this neighborhood that the neighborhood changes a great deal with the change of semesters and is far quieter during the summer when many students are away.

Also, one of the most interesting things about the Virginia Ave neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 50.9% 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 96.1% of the neighborhoods in America.

Finally, the Virginia Ave 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 5.8% of college-friendly places to live in KY.

Modes of Transportation

More people in Virginia Ave choose to walk to work each day (21.8%) 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.

Real Estate

Renter-occupied real estate is dominant in the Virginia Ave neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 96.7%, which is higher than 98.4% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.

In addition, the real estate in the Virginia Ave 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, 79.1% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 96.6% of American neighborhoods.

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 Virginia Ave neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.5% 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 Virginia Ave neighborhood has more Dutch and Czechoslovakian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.2% of this neighborhood's residents have Dutch ancestry and 0.7% have Czechoslovakian ancestry.

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 Virginia Ave 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 99.2% 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.

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 Virginia Ave neighborhood, 41.9% 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 29.6% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (18.5%), and 10.0% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Virginia Ave neighborhood is English, spoken by 94.3% of households. Some people also speak Polish (2.3%).

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the Virginia Ave neighborhood in Lexington, KY, residents most commonly identify their ethnicity or ancestry as German (18.9%). There are also a number of people of English ancestry (16.3%), and residents who report Irish roots (15.4%), and some of the residents are also of Dutch ancestry (5.2%), along with some Italian ancestry residents (3.0%), 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 Virginia Ave neighborhood spend under 15 minutes commuting one-way to work (43.6% of working residents), one of the shortest commutes across America.

Here most residents (57.7%) 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 (21.8%) and 10.3% 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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