Museum District median real estate price is $563,913, which is more expensive than 59.2% of the neighborhoods in Virginia and 63.9% of the neighborhoods in the U.S.
The average rental price in Museum District is currently $2,452, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 48.8% of Virginia neighborhoods.
Museum District is an urban neighborhood (based on population density) located in Richmond, Virginia.
Museum District real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and apartment complexes/high-rise apartments. Most of the residential real estate is renter occupied. Many of the residences in the Museum District 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.
Real estate vacancies in Museum District are 5.4%, which is lower than one will find in 62.4% of American neighborhoods. Demand for real estate in Museum District is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.
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.
Of note is NeighborhoodScout's research finding that the Museum District neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Museum District community truly stands out from the rest in this regard.
In addition, the rate of college educated adults in the Museum District neighborhood is a unique characteristic of the neighborhood. 73.0% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 35.0% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 95.0% of all U.S. neighborhoods.
With 2.2% of employed workers living in the Museum District neighborhood active in the military, this neighborhood has the distinction of having a higher proportion of people in the military than 96.5% of American neighborhoods. This is a major shaper of the neighborhood's culture and character.
Three-deckers, duplexes, old Victorian homes cut up into apartments. Independent stores on the corner selling pizza. These are some of the hallmarks of neighborhoods with lots of small 2, 3, and 4 unit apartment buildings. The Museum District neighborhood really stands out in this regard, however, as it is dominated by such small apartment buildings more than nearly any other neighborhood in America. This is a stunning visual and lifestyle example of this type of neighborhood. In fact, 36.3% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 96.4% of America's neighborhoods.
In addition, 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 Museum District neighborhood is one of the most walkable neighborhoods in America.
Furthermore, if you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 66.4% of the residential real estate in the Museum District neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 98.0% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
Did you know that the Museum District neighborhood has more Yugoslav and Cuban ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.9% of this neighborhood's residents have Yugoslav ancestry and 3.8% have Cuban ancestry.
Museum District is also pretty special linguistically. Significantly, 1.2% 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 97.7% of the neighborhoods in America.
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 Museum District neighborhood in Richmond are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 40.7% 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.
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 Museum District neighborhood, 66.1% 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 21.7% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (6.8%), and 4.9% in clerical, assistant, and tech support occupations.
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 Museum District neighborhood is English, spoken by 88.5% of households. Other important languages spoken here include Spanish and Polish.
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 Museum District neighborhood in Richmond, VA, residents most commonly identify their ethnicity or ancestry as English (18.2%). There are also a number of people of German ancestry (10.3%), and residents who report Irish roots (9.6%), and some of the residents are also of Italian ancestry (4.4%), along with some Cuban ancestry residents (3.8%), 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 Museum District neighborhood spend between 15 and 30 minutes commuting one-way to work (47.7% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (66.1%) 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.