Young Terrace median real estate price is $433,569, which is more expensive than 49.1% of the neighborhoods in Virginia and 57.7% of the neighborhoods in the U.S.
The average rental price in Young Terrace is currently $2,418, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 53.3% of Virginia neighborhoods.
Young Terrace is a densely urban neighborhood (based on population density) located in Norfolk, Virginia.
Young Terrace real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and townhomes. Most of the residential real estate is renter occupied. Many of the residences in the Young Terrace neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.
Real estate vacancies in Young Terrace are 5.5%, which is lower than one will find in 62.0% of American neighborhoods. Demand for real estate in Young Terrace 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.
When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.
Whether by choice, divorce, or unplanned pregnancy, single moms may have the toughest job in the book. NeighborhoodScout's exclusive analysis reveals that the Young Terrace neighborhood has more single mother households than 100.0% of the neighborhoods in the U.S. Often high concentrations of single mother homes can be a strong indicator of family and social issues such as poverty, high rates of school dropouts, crime, and other societal problems.
In addition, the Young Terrace neighborhood stands out for having an average per capita income lower than 99.4% of the neighborhoods in the United States. The Young Terrace neighborhood also has a greater percentage of children living in poverty (68.7%) than found in 98.4% of all U.S. neighborhoods. Children living in poverty is one of the challenges facing America, and the world, and in this neighborhood in particular, the problem can be considered acute.
Also, the Young Terrace neighborhood is unique for having just 5.6% of adults here having earned a bachelor's degree. This is a lower rate of college graduates than NeighborhoodScout found in 96.9% of America's neighborhoods.
There are more people living in the Young Terrace neighborhood employed as sales and service workers (52.4%) than almost any neighborhood in the country. From fast-food service workers to major sales accounts, sales and service workers make up the largest proportion of our national employment picture. But despite that size and importance nationally, this neighborhood still stands out as unique due to the dominance of people living here who work in such occupations.
Our research revealed that more commuters here take the bus to work (16.7% ride the bus) than 98.0% of all American neighborhoods. If you like the idea of leaving your car and home and hopping the bus to work, this might be a good neighborhood for you to consider.
Also, in the Young Terrace neighborhood, 10.3% of people ride the train 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 train ridership than in 95.5% of the neighborhoods in America.
Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the Young Terrace neighborhood have a highly unusual car ownership. 37.3% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.9% of U.S. neighborhoods.
93.9% of the real estate in the Young Terrace neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
In addition, many people dream of living along a street lined with row houses or other attached homes. Such places do often have an abundance of charm. If you are one of these people, the Young Terrace neighborhood could be your paradise. With 23.6% of the homes and real estate here classified as rowhouses or other attached homes, this neighborhood brims with opportunity to find the right place for you. Only 5.0% of U.S. neighborhoods have more row houses than this neighborhood, making it one of the most interesting things about this special neighborhood.
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 Young Terrace neighborhood in Norfolk are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 99.4% of U.S. neighborhoods. With 68.7% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 98.4% 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 Young Terrace neighborhood, 47.6% 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 clerical, assistant, and tech support occupations, with 23.6% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (16.5%), and 12.3% in executive, management, and professional occupations.
The most common language spoken in the Young Terrace neighborhood is English, spoken by 96.3% of households. Some people also speak Spanish (3.2%).
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 Young Terrace neighborhood in Norfolk, VA, residents most commonly identify their ethnicity or ancestry as Mexican (0.9%).
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 Young Terrace neighborhood spend under 15 minutes commuting one-way to work (39.8% of working residents), one of the shortest commutes across America.
Here most residents (47.7%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (16.7%) and 15.1% of residents also carpool with coworkers, friends, or neighbors for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.