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Real Estate Prices & Overview

Southern Terrace median real estate price is $491,328, which is more expensive than 58.8% of the neighborhoods in Nevada and 65.6% of the neighborhoods in the U.S.

The average rental price in Southern Terrace is currently $2,969, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 84.0% of the neighborhoods in Nevada.

Southern Terrace is a densely urban neighborhood (based on population density) located in Las Vegas, Nevada.

Southern Terrace 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 occupied by a mixture of owners and renters. Many of the residences in the Southern Terrace neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

In Southern Terrace, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Southern Terrace 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.

Real Estate

This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the Southern Terrace neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.

In addition, if you like the look and ambience of new homes and newly built neighborhoods, you will love the Southern Terrace neighborhood. A whopping 69.9% 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 95.8% of the neighborhoods in the U.S. Everything here just feels new.

Occupations

From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the Southern Terrace neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 99.3% of all American neighborhoods.

Car Ownership

We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the Southern Terrace neighborhood has a highly unusual pattern of car ownership. Residents of this neighborhood must really love automobiles. NeighborhoodScout's Analysis reveals that 38.9% of the households here have four, five, or more cars. That is more cars per household than in 97.8% of the neighborhoods in the nation.

Modes of Transportation

Our research shows that more people carpool to work here in the Southern Terrace (22.8%) than in 95.7% of the neighborhoods in America.

Diversity

Significantly, 1.3% of its residents five years old and above primarily speak Japanese at home. While this may seem like a small percentage, it is higher than 98.1% 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 Southern Terrace neighborhood in Las Vegas are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 63.2% of the neighborhoods in America. With 28.9% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 80.0% of U.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 Southern Terrace neighborhood, 49.2% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 30.1% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (11.8%), and 9.0% in clerical, assistant, and tech support 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 Southern Terrace neighborhood is English, spoken by 64.3% of households. Other important languages spoken here include Spanish, Chinese and Tagalog (the first language of the Philippine region).

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 Southern Terrace neighborhood in Las Vegas, NV, residents most commonly identify their ethnicity or ancestry as Mexican (20.9%). There are also a number of people of Asian ancestry (13.7%), and residents who report English roots (2.8%), and some of the residents are also of Italian ancestry (2.4%), along with some Irish ancestry residents (2.3%), among others. In addition, 23.7% 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 Southern Terrace neighborhood spend between 15 and 30 minutes commuting one-way to work (57.0% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (69.9%) 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 (22.8%) . 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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