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Real Estate Prices & Overview

Scott's Addition / Newtowne West median real estate price is $322,978, which is less expensive than 67.5% of Virginia neighborhoods and 58.2% of all U.S. neighborhoods.

The average rental price in Scott's Addition / Newtowne West is currently $2,666, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 66.3% of the neighborhoods in Virginia.

Scott's Addition / Newtowne West is a suburban neighborhood (based on population density) located in Richmond, Virginia.

Scott's Addition / Newtowne West 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 Scott's Addition / Newtowne West neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.

Scott's Addition / Newtowne West has a 10.8% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 64.8% 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

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.

People

One of the most interesting things about the Scott's Addition / Newtowne West neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 58.8% 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 98.6% of the neighborhoods in America.

In addition, an extraordinary 17.0% of the residents of the Scott's Addition / Newtowne West neighborhood are currently enrolled in college. This is such a large part of life in this neighborhood that the neighborhood changes a great deal with the change of semesters and is far quieter during the summer when many students are away.

Real Estate

The real estate in the Scott's Addition / Newtowne West 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, 86.7% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 97.7% of American neighborhoods.

In addition, the Scott's Addition / Newtowne West 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 89.9% 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.

Furthermore, 91.2% of the real estate in the Scott's Addition / Newtowne West neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.

Occupations

With 2.2% of employed workers living in the Scott's Addition / Newtowne West neighborhood active in the military, this neighborhood has the distinction of having a higher proportion of people in the military than 96.6% of American neighborhoods. This is a major shaper of the neighborhood's culture and character.

Migration / Stability

Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Scott's Addition / Newtowne West neighborhood. In the Scott's Addition / Newtowne West neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 97.6% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

Diversity

Did you know that the Scott's Addition / Newtowne West neighborhood has more Ukrainian and Finnish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.1% of this neighborhood's residents have Ukrainian ancestry and 1.1% have Finnish 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 Scott's Addition / Newtowne West neighborhood in Richmond are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 60.9% of U.S. neighborhoods. With 52.8% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 95.0% 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 Scott's Addition / Newtowne West neighborhood, 59.4% 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 24.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (8.6%), and 7.3% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Scott's Addition / Newtowne West neighborhood is English, spoken by 91.7% of households. Some people also speak Spanish (2.2%).

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 Scott's Addition / Newtowne West neighborhood in Richmond, VA, residents most commonly identify their ethnicity or ancestry as Irish (14.9%). There are also a number of people of German ancestry (13.5%), and residents who report English roots (12.9%), and some of the residents are also of Asian ancestry (6.2%), along with some Italian ancestry residents (4.4%), 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 Scott's Addition / Newtowne West neighborhood spend under 15 minutes commuting one-way to work (42.3% of working residents), one of the shortest commutes across America.

Here most residents (65.1%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (7.0%) . 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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