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Real Estate Prices & Overview

Sherwood Forest median real estate price is $88,962, which is less expensive than 96.6% of Tennessee neighborhoods and 95.9% of all U.S. neighborhoods.

The average rental price in Sherwood Forest is currently $1,491, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 69.1% of Tennessee neighborhoods.

Sherwood Forest is a suburban neighborhood (based on population density) located in Memphis, Tennessee.

Sherwood Forest real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four 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 Sherwood Forest neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

Home and apartment vacancy rates are 7.8% in Sherwood Forest. NeighborhoodScout analysis shows that this rate is lower than 49.4% of the neighborhoods in the nation, approximately near the middle range for vacancies.

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 Memphis, the Sherwood Forest neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

The first thing that you'll notice if you moved to this neighborhood is that an astounding 3.2% of the households are same sex couples. According to NeighborhoodScout's analysis, this is a higher proportion of same sex households than in 99.3% of the neighborhoods in America. This is one indicator that this neighborhood is likely a gay-friendly neighborhood. So if you are looking for such a neighborhood, the Sherwood Forest neighborhood should definitely be on your list of places to consider.

Diversity

Did you know that the Sherwood Forest neighborhood has more Scots-Irish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.4% of this neighborhood's residents have Scots-Irish ancestry.

The Neighbors

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 Sherwood Forest 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 86.3% of U.S. neighborhoods. With 38.8% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 88.3% 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 Sherwood Forest neighborhood, 36.9% of the working population is employed in manufacturing and laborer occupations. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 27.9% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (27.7%), and 5.6% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Sherwood Forest neighborhood is English, spoken by 90.9% of households. Some people also speak Spanish (8.9%).

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 Sherwood Forest neighborhood in Memphis, TN, residents most commonly identify their ethnicity or ancestry as Mexican (6.2%). There are also a number of people of English ancestry (5.4%), and residents who report Scots-Irish roots (3.4%), and some of the residents are also of Irish ancestry (3.3%), along with some German ancestry residents (1.6%), 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 Sherwood Forest neighborhood spend between 15 and 30 minutes commuting one-way to work (49.4% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (77.5%) 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 (10.2%) . 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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