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Real Estate Prices & Overview

Virginia Lake median real estate price is $619,847, which is more expensive than 71.0% of the neighborhoods in Nevada and 73.1% of the neighborhoods in the U.S.

The average rental price in Virginia Lake is currently $1,489, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 91.1% of Nevada neighborhoods.

Virginia Lake is a densely urban neighborhood (based on population density) located in Reno, Nevada.

Virginia Lake 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 small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Virginia Lake neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Real estate vacancies in Virginia Lake are 4.4%, which is lower than one will find in 70.6% of American neighborhoods. Demand for real estate in Virginia Lake 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

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.

Real Estate

The Virginia Lake neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 95.9% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.

In addition, the real estate in the Virginia Lake 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, 91.9% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 98.5% of American neighborhoods.

Furthermore, renter-occupied real estate is dominant in the Virginia Lake neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 95.8%, which is higher than 98.2% 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.

Modes of Transportation

If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 5.8% of residents in the Virginia Lake neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 98.6% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.

Also, more people in Virginia Lake choose to walk to work each day (10.7%) 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

Astoundingly, the Virginia Lake neighborhood has one of the highest concentrations of divorcees living here than of any neighborhood, a higher concentration than NeighborhoodScout found in 98.5% of U.S. neighborhoods. This may be because people living here divorce more often than others, or that divorced people move here after they become divorced. If you are divorced, you will be in good company in this particular Reno neighborhood.

Diversity

Did you know that the Virginia Lake neighborhood has more Brazilian and Portuguese ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.2% of this neighborhood's residents have Brazilian ancestry and 2.2% have Portuguese ancestry.

Virginia Lake is also pretty special linguistically. Significantly, 0.2% of its residents five years old and above primarily speak Mon-Khmer, which is the dominant language of Cambodia, at home. While this may seem like a small percentage, it is higher than 96.6% of the neighborhoods in America.

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 Lake neighborhood in Reno are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 94.1% of U.S. neighborhoods. With 19.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 68.2% of U.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 Lake neighborhood, 33.5% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 32.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (24.6%), and 9.3% in executive, management, and professional occupations.

Languages

The most common language spoken in the Virginia Lake neighborhood is English, spoken by 59.5% of households. Some people also speak Spanish (35.2%).

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 Lake neighborhood in Reno, NV, residents most commonly identify their ethnicity or ancestry as Mexican (46.7%). There are also a number of people of Irish ancestry (8.3%), and residents who report German roots (7.1%), and some of the residents are also of English ancestry (6.2%), along with some Asian ancestry residents (4.2%), among others. In addition, 28.8% 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 Virginia Lake neighborhood spend between 15 and 30 minutes commuting one-way to work (58.8% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (61.8%) 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 (10.7%) and 10.1% 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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