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Real Estate Prices & Overview

Heritage East median real estate price is $512,587, which is more expensive than 91.6% of the neighborhoods in New Mexico and 74.2% of the neighborhoods in the U.S.

The average rental price in Heritage East is currently $2,949, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 96.7% of the neighborhoods in New Mexico.

Heritage East is a suburban neighborhood (based on population density) located in Albuquerque, New Mexico.

Heritage East real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Heritage East 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 Heritage East, the current vacancy rate is 2.9%, which is a lower rate of vacancies than 81.8% of all neighborhoods in the U.S. This means that the housing supply in Heritage East is very tight compared to the demand for property here.

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 Albuquerque, the Heritage 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 Heritage 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 Heritage East community truly stands out from the rest in this regard.

In addition, a majority of the adults in the Heritage East neighborhood are wealthy and educated executives. They own stately homes that tend to maintain high real estate appreciation rates. Their upper-level careers keep them busy, but allow them to live comfortably. If you're an executive and want to keep similar company, consider settling in this neighborhood, rated as an executive lifestyle "best choice" neighborhood for New Mexico by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 98.0% of the neighborhoods in New Mexico. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for families with school-aged children and urban sophisticates.

Also, if knowledge is power, then imagine the cumulative power of one neighborhood where many of the adults have earned an advanced degree, such as a Masters, law degree, medical degree, or even a Ph.D. This is certainly the case in the Heritage East neighborhood, where 41.2% have earned an advanced degree. Compare that to the average neighborhood in America, where just 13.1% of adults have completed a post-graduate degree, and you can see why this neighborhood is a stand out. In fact, this neighborhood has a higher rate of adults with an advanced degree than 97.6% of the neighborhoods in America.

Occupations

Executives, managers and professionals make up 72.9% of the workforce in the Heritage East neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 97.2% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.

Diversity

Did you know that the Heritage East neighborhood has more Swedish and British ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.7% of this neighborhood's residents have Swedish ancestry and 2.3% have British ancestry.

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 Heritage East neighborhood in Albuquerque are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 90.7% 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.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Heritage East neighborhood, 72.9% 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 12.3% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (9.9%), and 5.3% in government jobs, whether they are in local, state, or federal positions.

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 Heritage East neighborhood is English, spoken by 83.7% of households. Other important languages spoken here include Spanish and Chinese.

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 Heritage East neighborhood in Albuquerque, NM, residents most commonly identify their ethnicity or ancestry as German (18.3%). There are also a number of people of English ancestry (16.0%), and residents who report Mexican roots (9.2%), and some of the residents are also of Asian ancestry (7.9%), along with some Irish ancestry residents (7.2%), among others. In addition, 10.6% of the residents of this neighborhood were born in another country.

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 Heritage East neighborhood spend between 15 and 30 minutes commuting one-way to work (56.2% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (74.1%) 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 (7.2%) . 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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