Parkway Village median real estate price is $108,882, which is less expensive than 94.0% of Tennessee neighborhoods and 94.3% of all U.S. neighborhoods.
The average rental price in Parkway Village is currently $1,686, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 46.8% of Tennessee neighborhoods.
Parkway Village is a suburban neighborhood (based on population density) located in Memphis, Tennessee.
Parkway Village real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Parkway Village neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
Vacant apartments or homes are a major fact of life in Parkway Village. The current real estate vacancy rate here is 15.9%. This is higher than the rate of vacancies in 81.9% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.
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.
In the Parkway Village neighborhood, 1.8% of people ride a ferry to work each day. This is a very high percentage compared to most places. In fact, NeighborhoodScout's analysis reveals that this is a higher level of ferry ridership than in 99.4% of the neighborhoods in America.
Single parenting is hard. But you don't have to tell the Parkway Village neighborhood about it; they already know. 25.7% of this neighborhood's households are run by single mothers, which is a higher concentration than NeighborhoodScout found in 99.0% of American neighborhoods. Further NeighborhoodScout research showed strong statistical correlations among high rates of children living in single parent households, and neighborhood crime, particularly violent crime, neighborhood poverty, and, importantly, the percentage of low weight births and rates of infant mortality.
In addition, neighborhoodScout's exclusive research revealed that 93.3% of the adult residents in the Parkway Village neighborhood do not have a 4-year college degree, which is a lower rate of college graduated adults than found in 96.2% of the neighborhoods in America.
Also, of note, 56.6% of the children in this area live in poverty; an extraordinarily high percentage compared to other neighborhoods in the nation. In a nation where approximately one in four children grows up in poverty, this neighborhood stands out for the depth of the problem manifested here.
The government often provides some of the more stable jobs in the economy. From local, to state, to federal government workers, the government can also be a major employer. What NeighborhoodScout's analysis revealed, is that the Parkway Village neighborhood in particular stands out when compared nationally for the proportion of its working residents who are employed by the government. At 14.9% of its workforce, this neighborhood has a greater concentration of government workers than 97.1% of U.S. neighborhoods.
Did you know that the Parkway Village neighborhood has more Sub-Saharan African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 16.3% of this neighborhood's residents have Sub-Saharan African ancestry.
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 Parkway Village neighborhood in Memphis are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 94.2% of U.S. neighborhoods. With 56.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 96.2% of U.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 Parkway Village neighborhood, 31.8% of the working population is employed in clerical, assistant, and tech support occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 30.4% of the residents employed. Other residents here are employed in executive, management, and professional occupations (19.0%), and 18.8% in sales and service jobs, from major sales accounts, to working in fast food restaurants.
The most common language spoken in the Parkway Village neighborhood is English, spoken by 82.8% of households. Some people also speak Spanish (14.5%).
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 Parkway Village neighborhood in Memphis, TN, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (16.3%). There are also a number of people of Mexican ancestry (13.5%), and residents who report Irish roots (1.8%), and some of the residents are also of German ancestry (1.3%).
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 Parkway Village neighborhood spend between 15 and 30 minutes commuting one-way to work (68.8% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (81.9%) 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 (14.7%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.