University Park / The Pennsylvania State University median real estate price is $387,191, which is more expensive than 72.2% of the neighborhoods in Pennsylvania and 53.6% of the neighborhoods in the U.S.
The average rental price in University Park / The Pennsylvania State University is currently $2,453, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 81.8% of the neighborhoods in Pennsylvania.
University Park / The Pennsylvania State University is a densely urban neighborhood (based on population density) located in State College, Pennsylvania.
University Park / The Pennsylvania State University real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) townhomes and apartment complexes/high-rise apartments. Most of the residential real estate is renter occupied. Many of the residences in the University Park / The Pennsylvania State University 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.
In University Park / The Pennsylvania State University, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in University Park / The Pennsylvania State University is very tight compared to the demand for property here.
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 State College, the University Park / The Pennsylvania State University neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Real Estate
Renter-occupied real estate is dominant in the University Park / The Pennsylvania State University neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 100.0%, which is higher than 99.3% 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. This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the University Park / The Pennsylvania State University neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.
In addition, if you love row houses and attached homes, you will probably really like the University Park / The Pennsylvania State University 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, 91.7% of the residential real estate here is classified as row houses and attached homes.
Furthermore, most neighborhoods are composed of a mixture of ages of homes, but the University Park / The Pennsylvania State University stands out as rather unique in having nearly all of its residential real estate built in one time period, namely between 1970 and 1999, generally considered to be established, but not old housing. What you'll sense when you look around or drive the streets of this neighborhood is that many of the residences look the same because of this similarity of age. In fact, 91.7% of the residential real estate here was built in this one time period.
People
Of note is NeighborhoodScout's research finding that the University Park / The Pennsylvania State University 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 Park / The Pennsylvania State University community truly stands out from the rest in this regard.
In addition, neighborhoodScout's exclusive research revealed that 100.0% of the adult residents in the University Park / The Pennsylvania State University neighborhood do not have a 4-year college degree, which is a lower rate of college graduated adults than found in 100.0% of the neighborhoods in America.
Also, one of the really interesting characteristics about the University Park / The Pennsylvania State University neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 0.3% of college-friendly places to live in the state of Pennsylvania.
Modes of Transportation
More people in University Park / The Pennsylvania State University choose to walk to work each day (68.9%) 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.
Length of Commute
Whether walking, biking, riding, or driving, the length of one's commute is an important factor for one's quality of life. The University Park / The Pennsylvania State University neighborhood stands out for its commute length, according to NeighborhoodScout's analysis. Residents of the University Park / The Pennsylvania State University neighborhood have the pleasure of having one of the shortest commutes to work of any neighborhood in America. 66.0% of the residents have a commute time from home to work (one way) of less than fifteen minutes. This is a higher proportion of residents enjoying a short trip to work than NeighborhoodScout found in 97.7% of U.S. neighborhoods. Less time commuting means more time for other things in life.
Occupations
From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the University Park / The Pennsylvania State University neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 96.0% of all 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 University Park / The Pennsylvania State University neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.9% 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 University Park / The Pennsylvania State University neighborhood has more Lebanese and Arab ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.5% of this neighborhood's residents have Lebanese ancestry and 3.5% have Arab ancestry.
University Park / The Pennsylvania State University is also pretty special linguistically. Significantly, 2.3% of its residents five years old and above primarily speak Korean at home. While this may seem like a small percentage, it is higher than 96.7% 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 Park / The Pennsylvania State University neighborhood in State College are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 100.0% 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 Park / The Pennsylvania State University neighborhood, 39.2% 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 executive, management, and professional occupations, with 37.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (17.1%), and 6.6% 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 Park / The Pennsylvania State University neighborhood is English, spoken by 78.7% of households. Other important languages spoken here include Chinese, Spanish and Korean.
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 University Park / The Pennsylvania State University neighborhood in State College, PA, residents most commonly identify their ethnicity or ancestry as Italian (14.9%). There are also a number of people of Asian ancestry (14.8%), and residents who report German roots (13.3%), and some of the residents are also of Irish ancestry (12.7%), along with some English ancestry residents (7.3%), among others. In addition, 13.1% of the residents of this neighborhood were born in another country.
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 University Park / The Pennsylvania State University neighborhood spend under 15 minutes commuting one-way to work (66.0% of working residents), one of the shortest commutes across America.
Here most residents (68.9%) 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 (15.5%) and 7.8% of residents also carpool with coworkers, friends, or neighbors for their daily commute. 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.
