Galatyn Park median real estate price is $574,554, which is more expensive than 88.9% of the neighborhoods in Texas and 75.5% of the neighborhoods in the U.S.
The average rental price in Galatyn Park is currently $2,741, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 89.9% of the neighborhoods in Texas.
Galatyn Park is a suburban neighborhood (based on population density) located in Richardson, Texas.
Galatyn Park 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 Galatyn Park neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
Vacant apartments or homes are a major fact of life in Galatyn Park. The current real estate vacancy rate here is 23.8%. This is higher than the rate of vacancies in 90.8% 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.
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 Richardson, the Galatyn Park neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Real Estate
100.0% of the real estate in the Galatyn Park neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
In addition, if you like the look and ambience of new homes and newly built neighborhoods, you will love the Galatyn Park neighborhood. A whopping 91.9% of the homes and other residential real estate here were built after 1999, which is a higher proportion of new homes then you will find in 99.1% of the neighborhoods in the U.S. Everything here just feels new. In fact, the concentration of newer homes here is so great that they completely dominate the landscape. In most neighborhoods, there is a mixture of ages of residential real estate, but here it is almost completely built during one time frame: 2000 through today.
Furthermore, the Galatyn Park 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 92.7% 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.
Also of note, the real estate in the Galatyn Park neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 86.8% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 97.7% of American neighborhoods.
Modes of Transportation
A unique way of commuting is simply not to. And in the Galatyn Park neighborhood, analysis shows that 33.4% 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 98.3% 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.
Occupations
The Galatyn Park neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 96.6% of the neighborhoods in America. In fact, 72.3% 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
An extraordinary 10.8% of the residents of the Galatyn Park neighborhood are currently enrolled in college. This is such a large part of life in this neighborhood that the neighborhood changes a great deal with the change of semesters and is far quieter during the summer when many students are away.
Migration / Stability
Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Galatyn Park neighborhood. In the Galatyn Park neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.2% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
Diversity
Did you know that the Galatyn Park neighborhood has more Arab and Iranian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.7% of this neighborhood's residents have Arab ancestry and 1.2% have Iranian ancestry.
Galatyn Park is also pretty special linguistically. Significantly, 12.9% 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 99.8% 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 Galatyn Park neighborhood in Richardson are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 66.0% of the neighborhoods in America. In addition, 6.4% 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 60.3% 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 Galatyn Park neighborhood, 72.3% 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 14.4% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (12.0%).
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 Galatyn Park neighborhood is English, spoken by 51.6% of households. Other important languages spoken here include Spanish, Arabic, Langs. of India and Korean.
Ethnicity / Ancestry
Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.
In the Galatyn Park neighborhood in Richardson, TX, residents most commonly identify their ethnicity or ancestry as Asian (27.6%). There are also a number of people of Mexican ancestry (19.7%), and residents who report Italian roots (7.4%), and some of the residents are also of German ancestry (6.0%), along with some Arab ancestry residents (5.7%), among others. In addition, 41.7% of the residents of this neighborhood were born in another country.
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 Galatyn Park neighborhood spend between 30 and 45 minutes commuting one-way to work (37.9% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (62.7%) drive alone in a private automobile to get to work. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
