University of Pennsylvania median real estate price is $403,918, which is more expensive than 72.4% of the neighborhoods in Pennsylvania and 54.0% of the neighborhoods in the U.S.
The average rental price in University of Pennsylvania is currently $5,052, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 99.2% of the neighborhoods in Pennsylvania.
University of Pennsylvania is a densely urban neighborhood (based on population density) located in Philadelphia, Pennsylvania.
University of Pennsylvania 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 University of Pennsylvania neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.
Home and apartment vacancy rates are 7.7% in University of Pennsylvania. NeighborhoodScout analysis shows that this rate is lower than 48.6% of the neighborhoods in the nation, approximately near the middle range for vacancies.
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 Philadelphia, the University of Pennsylvania neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
One of the unique characteristics of the University of Pennsylvania neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 96.7% of the neighborhoods in America. In a nation where 1 out of every 4 children lives in poverty, the University of Pennsylvania neighborhood also stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.
In addition, neighborhoodScout's analysis shows that the University of Pennsylvania neighborhood has a greater concentration of residents currently enrolled in college than 99.6% of the neighborhoods in the U.S. With 73.3% of the population here attending college, this is very much a college-focused neighborhood.
Also, the University of Pennsylvania neighborhood stands out within Pennsylvania for its college student friendly environment. NeighborhoodScout's analysis reveals that this neighborhood is home to a number of college students, is relatively walkable, and above average in safety. In combination, this makes it stand out for a good place for college students to consider. Because a number of college students live here, this neighborhood may be close to a college campus and offer certain amenities nearby geared towards the student body. While it's not an environment for everyone, ambitious scholars can enjoy seasonal excitement between semesters and school breaks, and parents can rest easy knowing that the area has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 7.2% of college-friendly places to live in PA. In addition to being an excellent choice for college students, this neighborhood is also a very good choice for young, single professionals.
In the University of Pennsylvania 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 44.4% of residents here. This is a higher proportion of walking commuters than we found in 99.7% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Also, in the University of Pennsylvania neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 31.3% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 95.5% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.
99.5% of the real estate in the University of Pennsylvania neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
In addition, the real estate in the University of Pennsylvania 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, 90.1% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 98.2% of American neighborhoods.
Furthermore, homes built from 2000 through today make up a higher proportion of the University of Pennsylvania neighborhood's real estate landscape than 96.7% of the neighborhoods in America. When you are driving around this neighborhood, you'll notice right away that it is one of the newest built of any, with the smell of fresh paint, and the look of young landscaping nearly everywhere you look. In fact, 76.5% of the residential real estate here is classified as newer.
Also of note, the University of Pennsylvania 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 85.9% 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.
American households most often have a car, and regularly they have two or three. But households in the University of Pennsylvania neighborhood buck this trend. 49.9% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.7% of U.S. neighborhoods.
Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. In the University of Pennsylvania neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.5% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
Significantly, 3.5% of its residents five years old and above primarily speak German/Yiddish at home. While this may seem like a small percentage, it is higher than 98.5% 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 University of Pennsylvania neighborhood in Philadelphia are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 96.7% of U.S. neighborhoods. In addition, 0.0% 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 100.0% 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 University of Pennsylvania neighborhood, 50.0% 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 30.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (15.9%), 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 University of Pennsylvania neighborhood is English, spoken by 74.9% of households. Other important languages spoken here include Chinese, Spanish, German/Yiddish and Langs. of India.
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 University of Pennsylvania neighborhood in Philadelphia, PA, residents most commonly identify their ethnicity or ancestry as Asian (21.3%). There are also a number of people of Sub-Saharan African ancestry (5.4%), and residents who report Italian roots (3.6%), and some of the residents are also of Irish ancestry (3.3%), along with some German ancestry residents (3.1%), among others. In addition, 17.8% 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 University of Pennsylvania neighborhood spend under 15 minutes commuting one-way to work (54.7% of working residents), one of the shortest commutes across America.
Here most residents (44.4%) 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 (16.5%) . 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.
