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Real Estate Prices & Overview

Reservation median real estate price is $607,844, which is more expensive than 90.6% of the neighborhoods in Texas and 77.7% of the neighborhoods in the U.S.

The average rental price in Reservation is currently $3,681, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 97.9% of the neighborhoods in Texas.

Reservation is a suburban neighborhood (based on population density) located in Richardson, Texas.

Reservation real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Reservation neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 2000 and the present.

Real estate vacancies in Reservation are 5.4%, which is lower than one will find in 63.5% of American neighborhoods. Demand for real estate in Reservation is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

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 Richardson, the Reservation neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

The rate of college educated adults in the Reservation neighborhood is a unique characteristic of the neighborhood. 83.2% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 34.3% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 98.6% of all U.S. neighborhoods.

In addition, think about the people you know personally. How many of them would purchase box seats to opening night at the symphony? How many of them regularly attend gallery openings, or are the first to reserve tickets to opening night at the ballet? If they're like most of us, they don't do any of these things. But if you're among an exclusive crowd of wealthy and refined patrons of the arts, then you'll feel right at home in the Reservation neighborhood: a neighborhood in which more "urban sophisticates" live than 96.7% of neighborhoods across the U.S. Here, your neighbors are defined as having urbane tastes in literature, music, live theatre and the arts. They are wealthy, educated, travel in style, and live a big city lifestyle whether or not they live in or near a big city. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for highly educated executives.

Also, if you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 4.0% of America's neighborhoods are wealthier than the Reservation neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe.

Finally, astoundingly, NeighborhoodScout's research reveals that this single neighborhood has a higher concentration of married couples living here than 95.2% of all U.S. neighborhoods. Whether they have school-aged children or not, married couples are the rule in the Reservation neighborhood. If you are a married couple, you may find many people here with a similar lifestyle, and perhaps common interests. But if you are single, you might not find many other singles here.

Occupations

Executives, managers and professionals make up 75.8% of the workforce in the Reservation neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 98.0% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.

Diversity

Significantly, 2.8% 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 98.4% 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 Reservation neighborhood in Richardson 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 96.0% of the neighborhoods in America. In addition, 0.9% 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 79.1% of America'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 Reservation neighborhood, 75.8% 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 16.5% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (4.2%), and 3.5% 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 Reservation neighborhood is English, spoken by 87.6% of households. Other important languages spoken here include Spanish, Chinese and Portuguese.

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 Reservation neighborhood in Richardson, TX, residents most commonly identify their ethnicity or ancestry as English (14.3%). There are also a number of people of German ancestry (12.6%), and residents who report Irish roots (9.7%), and some of the residents are also of Asian ancestry (8.1%), along with some Mexican ancestry residents (4.4%), among others. In addition, 11.4% 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 Reservation neighborhood spend between 15 and 30 minutes commuting one-way to work (42.1% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (75.7%) 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.


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