Rittenhouse Square South median real estate price is $2,125,533, which is more expensive than 97.9% of the neighborhoods in Pennsylvania and 92.2% of the neighborhoods in the U.S.
The average rental price in Rittenhouse Square South is currently $2,942, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 91.9% of the neighborhoods in Pennsylvania.
Rittenhouse Square South is a densely urban neighborhood (based on population density) located in Philadelphia, Pennsylvania.
Rittenhouse Square South 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 townhomes. Most of the residential real estate is renter occupied. Many of the residences in the Rittenhouse Square South neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1940 and 1969.
In Rittenhouse Square South, 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 Rittenhouse Square South is very tight compared to the demand for property here.
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
Real Estate
With a real estate vacancy rate of only 0.0%, the Rittenhouse Square South neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.
In addition, the Rittenhouse Square South neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 46,204 persons per square mile in the neighborhood, it is more packed with people than 98.3% of the nation's neighborhoods. Being a walkable neighborhood can help increase property values for the simple reason that people enjoy it and value it. To put it plainly, despite our love affair with the automobile, American's enjoy taking to the streets, sidewalks, paths, and courtyards of a place to get a coffee, relax, and take in the sights and sounds. And, according to NeighborhoodScout's exclusive and first quantitative walkable score index, the Rittenhouse Square South neighborhood is one of the most walkable neighborhoods in America.
Furthermore, do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The Rittenhouse Square South neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 63.3% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 97.3% of the neighborhoods in the United States.
People
The rate of college educated adults in the Rittenhouse Square South neighborhood is a unique characteristic of the neighborhood. 89.3% 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 99.6% of all U.S. neighborhoods.
In addition, the first thing that you'll notice if you moved to this neighborhood is that an astounding 3.0% of the households are same sex couples. According to NeighborhoodScout's analysis, this is a higher proportion of same sex households than in 99.1% of the neighborhoods in America. This is one indicator that this neighborhood is likely a gay-friendly neighborhood. So if you are looking for such a neighborhood, the Rittenhouse Square South neighborhood should definitely be on your list of places to consider.
Also, 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 Rittenhouse Square South neighborhood: a neighborhood in which more "urban sophisticates" live than 97.9% 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 young, single professionals.
Occupations
The Rittenhouse Square South neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 99.4% of the neighborhoods in America. In fact, 81.8% 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.
Modes of Transportation
In the Rittenhouse Square South neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 29.3% of residents here. This is a higher proportion of walking commuters than we found in 99.1% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Also, a unique way of commuting is simply not to. And in the Rittenhouse Square South neighborhood, analysis shows that 32.7% 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 98.1% 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.
Finally, if your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 3.0% of residents in the Rittenhouse Square South neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 95.8% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.
Car Ownership
Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the Rittenhouse Square South neighborhood have a highly unusual car ownership. 40.0% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.1% of U.S. neighborhoods.
Diversity
Did you know that the Rittenhouse Square South neighborhood has more Austrian and Russian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.1% of this neighborhood's residents have Austrian ancestry and 11.6% have Russian ancestry.
Rittenhouse Square South is also pretty special linguistically. Significantly, 0.6% of its residents five years old and above primarily speak Urdu, which is the national language of Pakistan, at home. While this may seem like a small percentage, it is higher than 95.5% of the neighborhoods in America.
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 Rittenhouse Square South neighborhood in Philadelphia are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 79.3% of the neighborhoods in America. With 12.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 54.5% 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 Rittenhouse Square South neighborhood, 81.8% 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 11.0% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (6.0%).
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 Rittenhouse Square South neighborhood is English, spoken by 93.3% of households. Other important languages spoken here include Spanish and Langs. of India.
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 Rittenhouse Square South neighborhood in Philadelphia, PA, residents most commonly identify their ethnicity or ancestry as Irish (20.7%). There are also a number of people of German ancestry (19.7%), and residents who report Italian roots (15.7%), and some of the residents are also of Polish ancestry (12.2%), along with some Russian ancestry residents (11.6%), among others.
Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Rittenhouse Square South neighborhood spend between 15 and 30 minutes commuting one-way to work (52.6% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (29.3%) hop out the door and walk to work to get to work. In addition, quite a number also drive alone in a private automobile to get to work (18.3%) and 11.6% of residents also ride the bus for their daily commute. This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.
