Town Center / University of North Carolina at Chapel Hill median real estate price is $916,359, which is more expensive than 96.7% of the neighborhoods in North Carolina and 88.4% of the neighborhoods in the U.S.
The average rental price in Town Center / University of North Carolina at Chapel Hill is currently $3,117, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 94.0% of the neighborhoods in North Carolina.
Town Center / University of North Carolina at Chapel Hill is an urban neighborhood (based on population density) located in Chapel Hill, North Carolina.
Town Center / University of North Carolina at Chapel Hill real estate is primarily made up of small (studio to two bedroom) small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Town Center / University of North Carolina at Chapel Hill 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.
In Town Center / University of North Carolina at Chapel Hill, 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 Town Center / University of North Carolina at Chapel Hill is very tight compared to the demand for property here.
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 Chapel Hill, the Town Center / University of North Carolina at Chapel Hill neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Renter-occupied real estate is dominant in the Town Center / University of North Carolina at Chapel Hill neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 100.0%, which is higher than 99.3% 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. With a real estate vacancy rate of only 0.0%, the Town Center / University of North Carolina at Chapel Hill neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.
In addition, three-deckers, duplexes, old Victorian homes cut up into apartments. Independent stores on the corner selling pizza. These are some of the hallmarks of neighborhoods with lots of small 2, 3, and 4 unit apartment buildings. The Town Center / University of North Carolina at Chapel Hill neighborhood really stands out in this regard, however, as it is dominated by such small apartment buildings more than nearly any other neighborhood in America. This is a stunning visual and lifestyle example of this type of neighborhood. In fact, 100.0% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 100.0% of America's neighborhoods.
Furthermore, most neighborhoods are composed of a mixture of ages of homes, but the Town Center / University of North Carolina at Chapel Hill stands out as rather unique in having nearly all of its residential real estate built in one time period, namely between 1970 and 1999, generally considered to be established, but not old housing. What you'll sense when you look around or drive the streets of this neighborhood is that many of the residences look the same because of this similarity of age. In fact, 100.0% of the residential real estate here was built in this one time period.
Also of note, the Town Center / University of North Carolina at Chapel Hill 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 100.0% 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.
In a nation where 1 out of every 4 children lives in poverty, the Town Center / University of North Carolina at Chapel Hill neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.
In addition, neighborhoodScout's analysis shows that the Town Center / University of North Carolina at Chapel Hill neighborhood has a greater concentration of residents currently enrolled in college than 99.9% of the neighborhoods in the U.S. With 95.3% of the population here attending college, this is very much a college-focused neighborhood.
Also, one of the really interesting characteristics about the Town Center / University of North Carolina at Chapel Hill neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 0.3% of college-friendly places to live in the state of North Carolina.
There are more people living in the Town Center / University of North Carolina at Chapel Hill neighborhood employed as sales and service workers (45.7%) 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.
If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 10.9% of residents in the Town Center / University of North Carolina at Chapel Hill neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 99.7% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.
Also, more people in Town Center / University of North Carolina at Chapel Hill choose to walk to work each day (33.3%) 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.
Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. Residents of the Town Center / University of North Carolina at Chapel Hill neighborhood have the pleasure of having one of the shortest commutes to work of any neighborhood in America. 59.1% of the residents have a commute time from home to work (one way) of less than fifteen minutes. This is a higher proportion of residents enjoying a short trip to work than NeighborhoodScout found in 95.7% of U.S. neighborhoods. Less time commuting means more time for other things in life.
The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. In the Town Center / University of North Carolina at Chapel Hill neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.3% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
Significantly, 5.2% of its residents five years old and above primarily speak Chinese at home. While this may seem like a small percentage, it is higher than 95.3% of the neighborhoods in America.
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 Town Center / University of North Carolina at Chapel Hill neighborhood in Chapel Hill are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 100.0% 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 Town Center / University of North Carolina at Chapel Hill neighborhood, 54.3% 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 36.6% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (5.6%), and 3.5% 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 Town Center / University of North Carolina at Chapel Hill neighborhood is English, spoken by 79.1% of households. Other important languages spoken here include Spanish and Chinese.
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 Town Center / University of North Carolina at Chapel Hill neighborhood in Chapel Hill, NC, residents most commonly identify their ethnicity or ancestry as Asian (20.4%). There are also a number of people of Sub-Saharan African ancestry (2.6%), and residents who report German roots (2.5%), and some of the residents are also of Irish ancestry (1.5%), along with some Scots-Irish ancestry residents (1.1%), among others.
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 Town Center / University of North Carolina at Chapel Hill neighborhood spend under 15 minutes commuting one-way to work (59.1% of working residents), one of the shortest commutes across America.
Here most residents (33.3%) hop out the door and walk to work to get to work. In addition, quite a number also drive alone in a private automobile to get to work (24.6%) and 10.9% of residents also bicycle for their daily commute. This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.
