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Real Estate Prices & Overview

Talbot Park median real estate price is $548,970, which is more expensive than 65.8% of the neighborhoods in Virginia and 69.9% of the neighborhoods in the U.S.

The average rental price in Talbot Park is currently $1,924, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 68.2% of Virginia neighborhoods.

Talbot Park is an urban neighborhood (based on population density) located in Norfolk, Virginia.

Talbot Park 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 single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Talbot Park neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 2000 and the present.

Talbot Park has a 10.7% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 65.8% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.

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 Norfolk, the Talbot Park neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Occupations

With 5.3% of employed workers living in the Talbot Park neighborhood active in the military, this neighborhood has the distinction of having a higher proportion of people in the military than 98.7% of American neighborhoods. This is a major shaper of the neighborhood's culture and character.

Length of Commute

Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the Talbot Park neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 14.4% of commuters here travel more than one hour just one-way to work. That is more than two hours per day. This percentage with two-hour + round-trip commutes is higher than NeighborhoodScout found in 98.5% of all neighborhoods in America.

People

One of the most interesting things about the Talbot Park neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 50.8% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 95.8% of the neighborhoods in America.

Diversity

Did you know that the Talbot Park neighborhood has more British ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.1% of this neighborhood's residents have British ancestry.

Talbot Park is also pretty special linguistically. Significantly, 1.6% of its residents five years old and above primarily speak Greek at home. While this may seem like a small percentage, it is higher than 98.7% of the neighborhoods in America.

The Neighbors

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 Talbot Park neighborhood in Norfolk are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 69.8% of U.S. neighborhoods. With 22.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 72.7% 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 Talbot Park neighborhood, 43.0% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 26.0% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (16.8%), and 14.2% 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 Talbot Park neighborhood is English, spoken by 88.3% of households. Other important languages spoken here include Spanish, French and Italian.

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 Talbot Park neighborhood in Norfolk, VA, residents most commonly identify their ethnicity or ancestry as English (12.2%). There are also a number of people of Puerto Rican ancestry (5.9%), and residents who report Irish roots (5.6%), and some of the residents are also of Italian ancestry (5.4%), along with some Asian ancestry residents (3.8%), among others.

Getting to Work

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 Talbot Park neighborhood spend under 15 minutes commuting one-way to work (35.0% of working residents), one of the shortest commutes across America. However, there is also a significant group of residents (14.4%) who commute over an hour in each direction.

Here most residents (74.5%) 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 (7.8%) . 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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