Falls median real estate price is $888,363, which is more expensive than 96.2% of the neighborhoods in North Carolina and 87.7% of the neighborhoods in the U.S.
The average rental price in Falls is currently $2,824, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 89.0% of the neighborhoods in North Carolina.
Falls is a rural neighborhood (based on population density) located in Raleigh, North Carolina.
Falls real estate is primarily made up of large (four, five or more bedroom) to medium sized (three or four bedroom) single-family homes. Most of the residential real estate is owner occupied. Many of the residences in the Falls 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 Falls are 5.1%, which is lower than one will find in 65.6% of American neighborhoods. Demand for real estate in Falls 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.
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.
People
Priests and therapists would like to think they know the secrets to a truly successful marriage, but according to NeighborhoodScout's research, the folks of the Falls neighborhood may actually hold the key. 82.7% of its residents are married, which is a higher percentage than is found in 99.9% of the neighborhoods in America.
In addition, according to NeighborhoodScout's exclusive analysis, Falls is among the best neighborhoods for families in North Carolina. In fact, this neighborhood is more family-friendly than 98.4% of neighborhoods in the entire state of North Carolina. Its combination of top public schools, low crime rates, and owner-occupied single family homes gives this area the look and feel of a "Leave It to Beaver" episode. Many other families also live here, making it easy to socialize and develop a strong sense of community. In addition, the high number of college-educated parents influences the academic success of the local schools. Overall, you will find all of the amenities a family needs to thrive in the Falls neighborhood. In addition to being an excellent choice for families with school-aged children, this neighborhood is also a very good choice for highly educated executives, active retirees and urban sophisticates.
Also, wealth makes most things in life easier, and a few things harder. If you are wealthy and enjoy keeping up with the Jones', this neighborhood will interest you. In fact, according to NeighborhoodScout's research, the Falls neighborhood is wealthier than 96.7% of the neighborhoods in the United States. Residents here are truly in a unique situation even when compared to other Americans, based on the sheer amount of wealth concentrated here. Even in times of economic downturn, residents of this neighborhood, as a group, suffered less and recovered more quickly. This is indeed a stand-out characteristic of this neighborhood.
Real Estate
Real estate in the Falls neighborhood is almost exclusively owner-occupied. NeighborhoodScout's analysis reveals that this neighborhood has a higher rate of owner-occupied housing than is found in 99.5% of U.S. neighborhoods. If you are seeking to rent, this neighborhood may not have many options, but high rates of ownership often indicate stability in a neighborhood.
In addition, one way that the Falls neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 99.0% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.
Furthermore, some neighborhoods are made up of apartments. Some consist of row houses, and most - by far - consist of a mixture of housing types. But the Falls neighborhood stands out due to the total dominance of detached, single-family homes here. There are nearly no other types of residential real estate in the neighborhood. In fact, this neighborhood has a higher proportion of single-family homes in its real estate stock than 98.7% of all American neighborhoods.
Modes of Transportation
In the Falls neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 38.1% 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 99.3% 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.
Occupations
The Falls neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 98.9% of the neighborhoods in America. In fact, 79.0% 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.
Diversity
Did you know that the Falls neighborhood has more Czechoslovakian and English ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.0% of this neighborhood's residents have Czechoslovakian ancestry and 22.2% have English ancestry.
Falls is also pretty special linguistically. Significantly, 4.1% of its residents five years old and above primarily speak Langs. of India at home. While this may seem like a small percentage, it is higher than 96.4% of the neighborhoods in America.
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 Falls neighborhood in Raleigh are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 96.7% of the neighborhoods in America. In addition, 0.8% 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 79.5% 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 Falls neighborhood, 79.0% 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 10.7% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (6.0%), and 4.2% in manufacturing and laborer occupations.
Languages
The most common language spoken in the Falls neighborhood is English, spoken by 91.9% of households. Some people also speak Langs. of India (4.1%).
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 Falls neighborhood in Raleigh, NC, residents most commonly identify their ethnicity or ancestry as English (22.2%). There are also a number of people of German ancestry (14.0%), and residents who report Irish roots (9.6%), and some of the residents are also of Asian ancestry (7.4%), along with some Italian ancestry residents (6.7%), among others.
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 Falls neighborhood spend between 15 and 30 minutes commuting one-way to work (52.3% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (57.5%) 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.
