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Real Estate Prices & Overview

Nob Hill West median real estate price is $551,169, which is more expensive than 90.7% of the neighborhoods in New Mexico and 73.6% of the neighborhoods in the U.S.

The average rental price in Nob Hill West is currently $2,500, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 93.6% of the neighborhoods in New Mexico.

Nob Hill West is a suburban neighborhood (based on population density) located in Albuquerque, New Mexico.

Nob Hill West real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Nob Hill West neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

Vacant apartments or homes are a major fact of life in Nob Hill West. The current real estate vacancy rate here is 18.9%. This is higher than the rate of vacancies in 85.3% 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

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

Occupations

The Nob Hill West neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 99.8% of the neighborhoods in America. In fact, 85.7% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.

People

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 Nob Hill West neighborhood, where 44.8% have earned an advanced degree. Compare that to the average neighborhood in America, where just 13.4% 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 98.3% of the neighborhoods in America.

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 5.0% of residents in the Nob Hill West neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 98.1% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.

Also, a unique way of commuting is simply not to. And in the Nob Hill West neighborhood, analysis shows that 28.1% 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 95.7% 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 Nob Hill West neighborhood has more Russian and Scottish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 10.7% of this neighborhood's residents have Russian ancestry and 6.9% have Scottish ancestry.

Nob Hill West is also pretty special linguistically. Significantly, 1.6% of its residents five years old and above primarily speak Portuguese at home. While this may seem like a small percentage, it is higher than 97.0% 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 Nob Hill West neighborhood in Albuquerque are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 74.0% of the neighborhoods in America. With 25.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 75.7% 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 Nob Hill West neighborhood, 85.7% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 9.9% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (6.7%), and 2.6% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Nob Hill West neighborhood is English, spoken by 94.5% of households. Some people also speak Spanish (2.7%).

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 Nob Hill West neighborhood in Albuquerque, NM, residents most commonly identify their ethnicity or ancestry as German (31.3%). There are also a number of people of Irish ancestry (18.2%), and residents who report English roots (14.6%), and some of the residents are also of Russian ancestry (10.7%), along with some French ancestry residents (7.1%), 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 Nob Hill West neighborhood spend between 15 and 30 minutes commuting one-way to work (51.6% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (60.1%) 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 (5.9%) . 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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