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Real Estate Prices & Overview

University median real estate price is $656,069, which is less expensive than 69.0% of California neighborhoods and 21.7% of all U.S. neighborhoods.

The average rental price in University is currently $2,507, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 74.2% of California neighborhoods.

University is a densely urban neighborhood (based on population density) located in Riverside, California.

University 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 University neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.

Vacant apartments or homes are a major fact of life in University. The current real estate vacancy rate here is 24.1%. This is higher than the rate of vacancies in 91.1% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually 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

NeighborhoodScout's analysis shows that the University neighborhood has a greater concentration of residents currently enrolled in college than 99.1% of the neighborhoods in the U.S. With 45.4% of the population here attending college, this is very much a college-focused neighborhood.

Real Estate

Renter-occupied real estate is dominant in the University neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 98.6%, which is higher than 98.9% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.

In addition, the University neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 90.2% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.

Furthermore, one of the really unique and interesting things about the look and setting of the University neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 75.6% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 96.0% of all neighborhoods in America.

Modes of Transportation

More people in University choose to walk to work each day (25.0%) 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.

Diversity

Did you know that the University neighborhood has more Asian and Romanian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 27.6% of this neighborhood's residents have Asian ancestry and 0.8% have Romanian ancestry.

University is also pretty special linguistically. Significantly, 3.6% of its residents five years old and above primarily speak Arabic at home. While this may seem like a small percentage, it is higher than 97.4% 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 University neighborhood in Riverside are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 87.1% of U.S. neighborhoods. With 18.9% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 67.1% 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 University neighborhood, 36.3% 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 executive, management, and professional occupations, with 36.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (19.3%), and 7.9% in manufacturing and laborer 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 University neighborhood is Spanish, spoken by 35.4% of households. Other important languages spoken here include English, Chinese, Arabic and Tagalog (the first language of the Philippine region).

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the University neighborhood in Riverside, CA, residents most commonly identify their ethnicity or ancestry as Asian (27.6%). There are also a number of people of Mexican ancestry (26.6%), and residents who report Irish roots (4.8%), and some of the residents are also of German ancestry (3.9%), along with some Sub-Saharan African ancestry residents (3.0%), among others. In addition, 25.2% 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 University neighborhood spend between 15 and 30 minutes commuting one-way to work (40.6% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (54.5%) 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 (25.0%) and 7.5% 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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