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Real Estate Prices & Overview

Hope Valley Farms median real estate price is $445,875, which is more expensive than 68.5% of the neighborhoods in North Carolina and 57.5% of the neighborhoods in the U.S.

The average rental price in Hope Valley Farms is currently $2,445, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 84.2% of the neighborhoods in North Carolina.

Hope Valley Farms is a suburban neighborhood (based on population density) located in Durham, North Carolina.

Hope Valley Farms real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Hope Valley Farms neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.

Real estate vacancies in Hope Valley Farms are 4.2%, which is lower than one will find in 69.5% of American neighborhoods. Demand for real estate in Hope Valley Farms is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

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 Durham, the Hope Valley Farms neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

In a nation where 1 out of every 4 children lives in poverty, the Hope Valley Farms neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

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 Hope Valley Farms neighborhood, where 46.0% have earned an advanced degree. Compare that to the average neighborhood in America, where just 14.1% 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 98.4% of the neighborhoods in America.

Also, a majority of the adults in the Hope Valley Farms neighborhood are wealthy and educated executives. They own stately homes that tend to maintain high real estate appreciation rates. Their upper-level careers keep them busy, but allow them to live comfortably. If you're an executive and want to keep similar company, consider settling in this neighborhood, rated as an executive lifestyle "best choice" neighborhood for North Carolina by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 96.2% of the neighborhoods in North Carolina. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for first-time home buyers and urban sophisticates.

Occupations

The Hope Valley Farms neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 98.9% of the neighborhoods in America. In fact, 80.2% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.

Modes of Transportation

In the Hope Valley Farms neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 39.3% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 98.0% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.

Real Estate

If you love row houses and attached homes, you will probably really like the Hope Valley Farms neighborhood. The ambiance, the charm, of row houses is something special. And in sheer abundance of row houses, this neighborhood truly stands out. The real estate here has a higher proportion of row houses and attached homes than nearly any neighborhood in America. In fact, 35.6% of the residential real estate here is classified as row houses and attached homes.

Diversity

Did you know that the Hope Valley Farms neighborhood has more Austrian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.5% of this neighborhood's residents have Austrian 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 Hope Valley Farms neighborhood in Durham are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 80.2% 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.

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 Hope Valley Farms neighborhood, 80.2% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is government jobs, whether they are in local, state, or federal positions, with 10.0% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (8.9%), and 5.6% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Hope Valley Farms neighborhood is English, spoken by 90.6% of households. Some people also speak Spanish (2.6%).

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 Hope Valley Farms neighborhood in Durham, NC, residents most commonly identify their ethnicity or ancestry as English (21.1%). There are also a number of people of German ancestry (14.9%), and residents who report Irish roots (10.0%), and some of the residents are also of Asian ancestry (5.0%), along with some Italian ancestry residents (5.0%), among others. In addition, 11.6% of the residents of this neighborhood were born in another country.

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 Hope Valley Farms neighborhood spend between 15 and 30 minutes commuting one-way to work (54.3% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (58.6%) 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.

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