University of Pennsylvania median real estate price is $378,802, which is more expensive than 68.7% of the neighborhoods in Pennsylvania and 50.3% of the neighborhoods in the U.S.
The average rental price in University of Pennsylvania is currently $4,694, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 99.2% of the neighborhoods in Pennsylvania.
University of Pennsylvania is a densely urban neighborhood (based on population density) located in Philadelphia, Pennsylvania.
University of Pennsylvania 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 University of Pennsylvania neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.
Home and apartment vacancy rates are 5.8% in University of Pennsylvania. NeighborhoodScout analysis shows that this rate is lower than 58.8% of the neighborhoods in the nation, approximately near the middle range for vacancies.
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.
The University of Pennsylvania neighborhood stands out for having an average per capita income lower than 95.6% of the neighborhoods in the United States. Also of note is NeighborhoodScout's research finding that the University of Pennsylvania 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 University of Pennsylvania community truly stands out from the rest in this regard.
In addition, neighborhoodScout's analysis shows that the University of Pennsylvania neighborhood has a greater concentration of residents currently enrolled in college than 99.5% of the neighborhoods in the U.S. With 68.7% of the population here attending college, this is very much a college-focused neighborhood.
Also, the University of Pennsylvania neighborhood stands out within Pennsylvania 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 7.4% of college-friendly places to live in PA. In addition to being an excellent choice for college students, this neighborhood is also a very good choice for young, single professionals.
In the University of Pennsylvania neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 39.7% of residents here. This is a higher proportion of walking commuters than we found in 99.6% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Also, in the University of Pennsylvania neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 33.9% 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 95.3% 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.
Renter-occupied real estate is dominant in the University of Pennsylvania neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 99.3%, which is higher than 99.1% 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, one of the really unique and interesting things about the look and setting of the University of Pennsylvania neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 84.3% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 97.3% of all neighborhoods in America.
Furthermore, the University of Pennsylvania 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 84.9% 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.
Also of note, homes built from 2000 through today make up a higher proportion of the University of Pennsylvania neighborhood's real estate landscape than 95.4% of the neighborhoods in America. When you are driving around this neighborhood, you'll notice right away that it is one of the newest built of any, with the smell of fresh paint, and the look of young landscaping nearly everywhere you look. In fact, 71.2% of the residential real estate here is classified as newer.
Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the University of Pennsylvania neighborhood have a highly unusual car ownership. 46.6% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.5% of U.S. neighborhoods.
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 University of Pennsylvania neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.6% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
Significantly, 4.5% of its residents five years old and above primarily speak German/Yiddish at home. While this may seem like a small percentage, it is higher than 98.9% 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 University of Pennsylvania neighborhood in Philadelphia are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 95.6% 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.
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 University of Pennsylvania neighborhood, 52.5% 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 29.5% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (12.8%), and 5.1% in manufacturing and laborer 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 University of Pennsylvania neighborhood is English, spoken by 74.3% of households. Other important languages spoken here include Chinese, German/Yiddish, Spanish and Langs. of India.
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 University of Pennsylvania neighborhood in Philadelphia, PA, residents most commonly identify their ethnicity or ancestry as Asian (22.0%). There are also a number of people of Italian ancestry (4.0%), and residents who report German roots (4.0%), and some of the residents are also of Irish ancestry (3.4%), along with some Sub-Saharan African ancestry residents (3.4%), among others. In addition, 19.5% of the residents of this neighborhood were born in another country.
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 University of Pennsylvania neighborhood spend under 15 minutes commuting one-way to work (52.0% of working residents), one of the shortest commutes across America.
Here most residents (39.7%) hop out the door and walk to work to get to work. In addition, quite a number also drive alone in a private automobile to get to work (17.1%) . This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.
