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Real Estate Prices & Overview

Jackson Ward / Biotech and MCV District median real estate price is $550,307, which is more expensive than 64.6% of the neighborhoods in Virginia and 69.7% of the neighborhoods in the U.S.

The average rental price in Jackson Ward / Biotech and MCV District is currently $1,874, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 66.7% of Virginia neighborhoods.

Jackson Ward / Biotech and MCV District is a suburban neighborhood (based on population density) located in Richmond, Virginia.

Jackson Ward / Biotech and MCV District 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 Jackson Ward / Biotech and MCV District 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 2000 and the present.

Jackson Ward / Biotech and MCV District has a 10.3% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 65.5% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.

Notable & Unique Neighborhood Characteristics

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.

People

In a nation where 1 out of every 4 children lives in poverty, the Jackson Ward / Biotech and MCV District neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

In addition, an extraordinary 12.6% of the residents of the Jackson Ward / Biotech and MCV District neighborhood are currently enrolled in college. This is such a large part of life in this neighborhood that the neighborhood changes a great deal with the change of semesters and is far quieter during the summer when many students are away.

Also, there is an especially high percentage of incarcerated people (0.8%) living in the Jackson Ward / Biotech and MCV District neighborhood.

Finally, with a nice mix of college students, safety from crime, and decent walkability, the Jackson Ward / Biotech and MCV District neighborhood rates highly as a college student friendly place to live, and one that college students and their parents may want to consider. NeighborhoodScout's analysis shows that it rates more highly for a good place for college students to live than 86.6% of the neighborhoods in VA. This often also means that the area has certain amenities and services geared towards college students, from undergraduates to graduate students. In addition to being an excellent choice for college students, this neighborhood is also a very good choice for young, single professionals.

Occupations

The Jackson Ward / Biotech and MCV District neighborhood has a greater proportion of government workers living in it than 97.5% of the neighborhoods in America, according to NeighborhoodScout's exclusive analysis. This is a unique feature of this neighborhood, and one that shapes its character.

Modes of Transportation

More people in Jackson Ward / Biotech and MCV District choose to walk to work each day (11.8%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.

Real Estate

Do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The Jackson Ward / Biotech and MCV District neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 55.1% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 95.3% of the neighborhoods in the United States.

Diversity

Did you know that the Jackson Ward / Biotech and MCV District neighborhood has more British and Greek ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.0% of this neighborhood's residents have British ancestry and 1.9% have Greek ancestry.

Jackson Ward / Biotech and MCV District is also pretty special linguistically. Significantly, 1.1% of its residents five years old and above primarily speak Russian at home. While this may seem like a small percentage, it is higher than 96.6% of the neighborhoods in America.

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 Jackson Ward / Biotech and MCV District neighborhood in Richmond are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 76.0% of U.S. neighborhoods. 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 Jackson Ward / Biotech and MCV District neighborhood, 58.0% 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 22.4% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (15.6%), and 13.0% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Jackson Ward / Biotech and MCV District neighborhood is English, spoken by 92.7% of households. Some people also speak Spanish (3.0%).

Ethnicity / Ancestry

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 Jackson Ward / Biotech and MCV District neighborhood in Richmond, VA, residents most commonly identify their ethnicity or ancestry as German (11.0%). There are also a number of people of Italian ancestry (8.2%), and residents who report Sub-Saharan African roots (8.2%), and some of the residents are also of English ancestry (8.0%), along with some Irish ancestry residents (6.8%), among others.

Getting to Work

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 Jackson Ward / Biotech and MCV District neighborhood spend between 15 and 30 minutes commuting one-way to work (52.2% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (60.8%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (11.8%) and 5.6% 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.

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