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Real Estate Prices & Overview

Museum District East median real estate price is $478,257, which is more expensive than 56.1% of the neighborhoods in Virginia and 63.2% of the neighborhoods in the U.S.

The average rental price in Museum District East is currently $2,127, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 57.0% of Virginia neighborhoods.

Museum District East is a densely urban neighborhood (based on population density) located in Richmond, Virginia.

Museum District East 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 small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Museum District East 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 1970 and 1999.

Real estate vacancies in Museum District East are 4.0%, which is lower than one will find in 71.2% of American neighborhoods. Demand for real estate in Museum District East 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.

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 Richmond, the Museum District East neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

Of note is NeighborhoodScout's research finding that the Museum District East 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 Museum District East community truly stands out from the rest in this regard.

In addition, the types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 57.0%. This is a higher percent living alone than we found in 98.0% of all U.S. neighborhoods. Often residents who live alone are new arrivals to an area who are single, and often senior citizens who have lost a spouse.

Real Estate

Even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The Museum District East neighborhood is among the top 5% of American neighborhoods in terms of walkability.

In addition, if you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 58.5% of the residential real estate in the Museum District East neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 96.3% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

Modes of Transportation

A unique way of commuting is simply not to. And in the Museum District East neighborhood, analysis shows that 34.3% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 95.5% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.

Diversity

Did you know that the Museum District East neighborhood has more Armenian and Jamaican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.3% of this neighborhood's residents have Armenian ancestry and 6.8% have Jamaican ancestry.

Museum District East is also pretty special linguistically. Significantly, 0.9% 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 95.1% of the neighborhoods in America.

The Neighbors

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 Museum District East neighborhood in Richmond are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 48.0% 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 Museum District East neighborhood, 61.0% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 22.9% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (9.4%), and 6.7% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Museum District East neighborhood is English, spoken by 97.7% of households.

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 Museum District East neighborhood in Richmond, VA, residents most commonly identify their ethnicity or ancestry as Irish (15.8%). There are also a number of people of English ancestry (14.7%), and residents who report German roots (14.4%), and some of the residents are also of Jamaican ancestry (6.8%), along with some Italian ancestry residents (5.2%), 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 Museum District East neighborhood spend under 15 minutes commuting one-way to work (48.6% of working residents), one of the shortest commutes across America.

Here most residents (58.3%) drive alone in a private automobile to get to work. 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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