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Real Estate Prices & Overview

Towngate median real estate price is $510,450, which is less expensive than 81.5% of California neighborhoods and 32.6% of all U.S. neighborhoods.

The average rental price in Towngate is currently $3,618, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 63.5% of the neighborhoods in California.

Towngate is a densely urban neighborhood (based on population density) located in Moreno Valley, California.

Towngate 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 Towngate neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

In Towngate, 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 Towngate is very tight compared to the demand for property here.

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.

Real Estate

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 Towngate 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.

In addition, homes built from 2000 through today make up a higher proportion of the Towngate neighborhood's real estate landscape than 96.6% of the neighborhoods in America. When you are driving around this neighborhood, you'll notice right away that it is one of the newest built of any, with the smell of fresh paint, and the look of young landscaping nearly everywhere you look. In fact, 74.5% of the residential real estate here is classified as newer.

People

For many reasons, Towngate is rated by NeighborhoodScout as one of the top 2.3% of ideal neighborhoods for first-time home buyers in the state of California. Homes here are priced below median housing values in the state, yet the neighborhood has a track record according to NeighborhoodScout's exclusive neighborhood home appreciation rates of above average real estate appreciation over the last five years compared to other CA neighborhoods, protecting your investment in your first home, while simultaneously making it less risky for your lender. Not only does this neighborhood stand out for combining price and home value stability or increases, it also is a neighborhood with a high quality resident population according exclusive data, meaning this is likely a good place to buy, live, and enjoy. While many first time home buyers focus purely on low cost and convenient location, which can risk your investment in your first home and put you in a less than desirable neighborhood, this neighborhood is a true standout for a lot of reasons, and definitely worth a look if you are a first time home buyer. In addition to being an excellent choice for first-time home buyers, this neighborhood is also a very good choice for college students.

Modes of Transportation

If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 3.7% of residents in the Towngate neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 97.0% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.

Diversity

Did you know that the Towngate neighborhood has more Arab and Ukrainian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 6.8% of this neighborhood's residents have Arab ancestry and 1.9% have Ukrainian ancestry.

Towngate is also pretty special linguistically. Significantly, 3.1% of its residents five years old and above primarily speak Urdu, which is the national language of Pakistan, at home. While this may seem like a small percentage, it is higher than 99.5% 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 Towngate neighborhood in Moreno Valley are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 57.9% of the neighborhoods in America. With 17.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 64.0% 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 Towngate neighborhood, 39.4% 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 23.2% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (22.9%), and 13.9% in clerical, assistant, and tech support occupations.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Towngate neighborhood is English, spoken by 62.3% of households. Other important languages spoken here include Spanish, Arabic, Urdu (the national language of Pakistan) and Tagalog (the first language of the Philippine region).

Ethnicity / Ancestry

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 Towngate neighborhood in Moreno Valley, CA, residents most commonly identify their ethnicity or ancestry as Mexican (29.9%). There are also a number of people of Asian ancestry (13.9%), and residents who report Sub-Saharan African roots (7.3%), and some of the residents are also of Arab ancestry (6.8%), along with some German ancestry residents (5.4%), among others. In addition, 27.6% of the residents of this neighborhood were born in another country.

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 Towngate neighborhood spend between 15 and 30 minutes commuting one-way to work (40.4% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (69.4%) 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 (17.4%) . 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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