Colonial Place / Riverview median real estate price is $438,608, which is more expensive than 50.1% of the neighborhoods in Virginia and 58.3% of the neighborhoods in the U.S.
The average rental price in Colonial Place / Riverview is currently $2,745, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 65.7% of the neighborhoods in Virginia.
Colonial Place / Riverview is an urban neighborhood (based on population density) located in Norfolk, Virginia.
Colonial Place / Riverview 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 Colonial Place / Riverview neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1940 and 1969.
In Colonial Place / Riverview, 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 Colonial Place / Riverview is very tight compared to the demand for property here.
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.
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 Colonial Place / Riverview 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.
Of note is NeighborhoodScout's research finding that the Colonial Place / Riverview 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 Colonial Place / Riverview community truly stands out from the rest in this regard.
In addition, the Colonial Place / Riverview neighborhood stands out within Virginia 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 5.5% of college-friendly places to live in VA. In addition to being an excellent choice for college students, this neighborhood is also a very good choice for urban sophisticates.
The Colonial Place / Riverview neighborhood stands out nationally for having a greater proportion of its residents active in the military than 99.4% of other U.S. neighborhoods. If you come here, you will notice military people active in their jobs, going to and from work, and in plain clothes out and about the neighborhood.
Furthermore, the Colonial Place / Riverview neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 97.9% of the neighborhoods in America. In fact, 76.6% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
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 Colonial Place / Riverview neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 96.6% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
Did you know that the Colonial Place / Riverview neighborhood has more Ukrainian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.7% of this neighborhood's residents have Ukrainian ancestry.
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 Colonial Place / Riverview neighborhood in Norfolk are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 62.9% of the neighborhoods in America. 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.
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 Colonial Place / Riverview neighborhood, 76.6% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is the military, with 9.8% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (9.6%), and 8.9% in government jobs, whether they are in local, state, or federal positions.
The most common language spoken in the Colonial Place / Riverview neighborhood is English, spoken by 91.3% of households. Some people also speak Spanish (3.0%).
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 Colonial Place / Riverview neighborhood in Norfolk, VA, residents most commonly identify their ethnicity or ancestry as German (18.5%). There are also a number of people of Irish ancestry (17.1%), and residents who report English roots (15.6%), and some of the residents are also of Italian ancestry (9.5%), along with some Polish ancestry residents (4.5%), among others.
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 Colonial Place / Riverview neighborhood spend between 15 and 30 minutes commuting one-way to work (43.1% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (68.9%) 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 (9.8%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.