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Real Estate Prices & Overview

Oakland median real estate price is $306,936, which is less expensive than 69.7% of Virginia neighborhoods and 59.2% of all U.S. neighborhoods.

The average rental price in Oakland is currently $2,367, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 46.7% of Virginia neighborhoods.

Oakland is a suburban neighborhood (based on population density) located in Henrico, Virginia.

Oakland 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 Oakland 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 Oakland, the current vacancy rate is 3.0%, which is a lower rate of vacancies than 80.2% of all neighborhoods in the U.S. This means that the housing supply in Oakland is very tight compared to the demand for property here.

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 government often provides some of the more stable jobs in the economy. From local, to state, to federal government workers, the government can also be a major employer. What NeighborhoodScout's analysis revealed, is that the Oakland neighborhood in particular stands out when compared nationally for the proportion of its working residents who are employed by the government. At 14.1% of its workforce, this neighborhood has a greater concentration of government workers than 96.4% of U.S. neighborhoods.

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 Oakland neighborhood in Henrico are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 54.9% of the neighborhoods in America. With 11.8% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 53.4% of U.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 Oakland neighborhood, 39.2% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 26.1% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (21.2%), and 14.1% 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 Oakland neighborhood is English, spoken by 94.5% of households. Other important languages spoken here include Spanish and Italian.

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 Oakland neighborhood in Henrico, VA, residents most commonly identify their ethnicity or ancestry as German (3.3%). There are also a number of people of English ancestry (3.2%), and residents who report Sub-Saharan African roots (2.7%), and some of the residents are also of African ancestry (2.7%), along with some Puerto Rican ancestry residents (1.6%), 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 Oakland neighborhood spend between 15 and 30 minutes commuting one-way to work (46.3% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (80.3%) 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 (6.0%) . 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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