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Real Estate Prices & Overview

River Oaks / Brierwood median real estate price is $854,492, which is more expensive than 96.3% of the neighborhoods in Tennessee and 88.0% of the neighborhoods in the U.S.

The average rental price in River Oaks / Brierwood is currently $2,125, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 67.6% of the neighborhoods in Tennessee.

River Oaks / Brierwood is a suburban neighborhood (based on population density) located in Memphis, Tennessee.

River Oaks / Brierwood 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 River Oaks / Brierwood neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Home and apartment vacancy rates are 9.6% in River Oaks / Brierwood. NeighborhoodScout analysis shows that this rate is lower than 41.6% of the neighborhoods in the nation, approximately near the middle range for vacancies.

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 Memphis, the River Oaks / Brierwood neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

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 1.7% of America's neighborhoods are wealthier than the River Oaks / Brierwood 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. As one would expect in a considerably wealthy neighborhood such as this, River Oaks / Brierwood also has one of the lowest ratings of child poverty in the nation.

In addition, some neighborhoods have residents that are more educated than others. But in this neighborhood there is a dramatic difference. NeighborhoodScout's exclusive analysis reveals that 47.2% of the adults here have earned a Masters degree, medical degree, Ph.D. or law degree. This is a higher rate of people with a graduate degree than is found in 98.8% of U.S. neighborhoods, where the average American neighborhood has 13.1% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.

Also, priests and therapists would like to think they know the secrets to a truly successful marriage, but according to NeighborhoodScout's research, the folks of the River Oaks / Brierwood neighborhood may actually hold the key. 70.2% of its residents are married, which is a higher percentage than is found in 97.8% of the neighborhoods in America.

Finally, a majority of the adults in the River Oaks / Brierwood neighborhood are wealthy and educated executives. They own stately homes that tend to maintain high real estate appreciation rates. Their upper-level careers keep them busy, but allow them to live comfortably. If you're an executive and want to keep similar company, consider settling in this neighborhood, rated as an executive lifestyle "best choice" neighborhood for Tennessee by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 96.5% of the neighborhoods in Tennessee. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for urban sophisticates and active retirees.

Occupations

The River Oaks / Brierwood neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 98.5% of the neighborhoods in America. In fact, 76.9% 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.

Diversity

Did you know that the River Oaks / Brierwood neighborhood has more Eastern European and Romanian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.7% of this neighborhood's residents have Eastern European ancestry and 0.9% have Romanian ancestry.

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 River Oaks / Brierwood neighborhood in Memphis 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 98.3% of the neighborhoods in America. 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.

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 River Oaks / Brierwood neighborhood, 76.9% 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 13.5% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (7.2%), and 2.4% in manufacturing and laborer occupations.

Languages

The most common language spoken in the River Oaks / Brierwood neighborhood is English, spoken by 95.6% of households. Some people also speak Langs. of India (2.1%).

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 River Oaks / Brierwood neighborhood in Memphis, TN, residents most commonly identify their ethnicity or ancestry as Irish (15.5%). There are also a number of people of English ancestry (14.7%), and residents who report German roots (10.0%), and some of the residents are also of Asian ancestry (3.7%), along with some Italian ancestry residents (3.6%), 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 River Oaks / Brierwood neighborhood spend between 15 and 30 minutes commuting one-way to work (47.9% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (78.2%) 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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