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Real Estate Prices & Overview

Freeway median real estate price is $531,030, which is more expensive than 82.4% of the neighborhoods in Tennessee and 67.4% of the neighborhoods in the U.S.

The average rental price in Freeway is currently $1,769, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 49.0% of Tennessee neighborhoods.

Freeway is a suburban neighborhood (based on population density) located in Knoxville, Tennessee.

Freeway real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Freeway neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

Real estate vacancies in Freeway are 3.1%, which is lower than one will find in 79.4% of American neighborhoods. Demand for real estate in Freeway 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 Knoxville, the Freeway neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

The Freeway neighborhood is considered a solid choice for executive lifestyles. NeighborhoodScout's analysis ranks it as better than 92.5% of Tennessee neighborhoods for executive living, based on the wealthy, educated professionals, executives, and managers who choose to reside here, the spacious homes that are prominent features of the real estate in the neighborhood, and the high real estate appreciation rates found here relative to other neighborhoods in the state. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for families with school-aged children.

Diversity

Did you know that the Freeway neighborhood has more Scots-Irish and Armenian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.1% of this neighborhood's residents have Scots-Irish ancestry and 0.6% have Armenian 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 Freeway neighborhood in Knoxville are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 76.3% of the neighborhoods in America. In addition, 2.7% 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 72.5% of America'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 Freeway neighborhood, 50.1% 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 20.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (19.7%), and 9.6% 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 Freeway neighborhood is English, spoken by 98.6% of households. Other important languages spoken here include Italian and Polish.

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Freeway neighborhood in Knoxville, TN, residents most commonly identify their ethnicity or ancestry as English (14.0%). There are also a number of people of German ancestry (12.7%), and residents who report Irish roots (11.4%), and some of the residents are also of Italian ancestry (3.2%), along with some Scots-Irish ancestry residents (3.1%), among others.

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 Freeway neighborhood spend between 15 and 30 minutes commuting one-way to work (43.7% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (79.1%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (7.2%) . 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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