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Real Estate Prices & Overview

Downtown River Arts Neighborhood / Downtown Tampa median real estate price is $599,641, which is more expensive than 79.5% of the neighborhoods in Florida and 78.7% of the neighborhoods in the U.S.

The average rental price in Downtown River Arts Neighborhood / Downtown Tampa is currently $4,325, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 89.7% of the neighborhoods in Florida.

Downtown River Arts Neighborhood / Downtown Tampa is an urban neighborhood (based on population density) located in Tampa, Florida.

Downtown River Arts Neighborhood / Downtown Tampa 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 Downtown River Arts Neighborhood / Downtown Tampa neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

Downtown River Arts Neighborhood / Downtown Tampa has a 11.8% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 67.2% 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 Tampa, the Downtown River Arts Neighborhood / Downtown Tampa neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

One of the really unique and interesting things about the look and setting of the Downtown River Arts Neighborhood / Downtown Tampa neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 99.4% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 99.8% of all neighborhoods in America.

In addition, the Downtown River Arts Neighborhood / Downtown Tampa 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 99.2% 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, homes built from 2000 through today make up a higher proportion of the Downtown River Arts Neighborhood / Downtown Tampa neighborhood's real estate landscape than 97.4% 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, 78.8% of the residential real estate here is classified as newer.

People

One of the most interesting things about the Downtown River Arts Neighborhood / Downtown Tampa neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 63.3% 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 99.3% of the neighborhoods in America.

Diversity

Did you know that the Downtown River Arts Neighborhood / Downtown Tampa neighborhood has more Cuban and South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 9.8% of this neighborhood's residents have Cuban ancestry and 8.6% have South American ancestry.

Downtown River Arts Neighborhood / Downtown Tampa is also pretty special linguistically. Significantly, 1.1% of its residents five years old and above primarily speak Portuguese at home. While this may seem like a small percentage, it is higher than 95.3% of the neighborhoods in America.

Migration / Stability

The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. In the Downtown River Arts Neighborhood / Downtown Tampa neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 96.6% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

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 Downtown River Arts Neighborhood / Downtown Tampa neighborhood in Tampa are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 75.6% of the neighborhoods in America. With 30.7% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 81.1% 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 Downtown River Arts Neighborhood / Downtown Tampa neighborhood, 59.2% 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 18.9% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (12.8%), and 9.2% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Downtown River Arts Neighborhood / Downtown Tampa neighborhood is English, spoken by 68.5% of households. Some people also speak Spanish (21.3%).

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 Downtown River Arts Neighborhood / Downtown Tampa neighborhood in Tampa, FL, residents most commonly identify their ethnicity or ancestry as German (16.9%). There are also a number of people of Irish ancestry (12.1%), and residents who report Cuban roots (9.8%), and some of the residents are also of South American ancestry (8.6%), along with some Italian ancestry residents (7.0%), among others. In addition, 16.2% of the residents of this neighborhood were born in another country.

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 Downtown River Arts Neighborhood / Downtown Tampa neighborhood spend between 15 and 30 minutes commuting one-way to work (50.7% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (62.1%) 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 (8.5%) and 8.4% of residents also hop out the door and walk to work for their daily commute. 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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