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Real Estate Prices & Overview

Median real estate price in the City Center of Richmond is $71,995, which is less expensive than 93.0% of Indiana neighborhoods and 96.1% of all U.S. neighborhoods.

The average rental price in Richmond City Center is currently $983, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 93.8% of Indiana neighborhoods.

Richmond City Center is a suburban neighborhood (based on population density) located in Richmond, Indiana.

Real estate in the City Center of Richmond, IN is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the City Center 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.

Vacant apartments or homes are a major fact of life in Richmond City Center. The current real estate vacancy rate here is 29.3%. This is higher than the rate of vacancies in 94.4% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

People

One of the unique characteristics of the Richmond City Center neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 98.8% of the neighborhoods in America. Also of note, 61.3% of the children in this area live in poverty; an extraordinarily high percentage compared to other neighborhoods in the nation. In a nation where approximately one in four children grows up in poverty, this neighborhood stands out for the depth of the problem manifested here.

In addition, of particular note, 8.6% of the people in the City Center neighborhood currently reside in a correction facility, held due to punishment for a crime.

Modes of Transportation

More people in Richmond City Center choose to walk to work each day (15.1%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.

Length of Commute

Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. Residents of the Richmond City Center neighborhood have the pleasure of having one of the shortest commutes to work of any neighborhood in America. 60.0% of the residents have a commute time from home to work (one way) of less than fifteen minutes. This is a higher proportion of residents enjoying a short trip to work than NeighborhoodScout found in 96.1% of U.S. neighborhoods. Less time commuting means more time for other things in life.

Real Estate

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 62.3% of the residential real estate in the Richmond City Center neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 97.1% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

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 Richmond City Center neighborhood. In the Richmond City Center neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 95.8% 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 City Center neighborhood in Richmond are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 98.8% of U.S. neighborhoods. With 61.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 97.1% of U.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 Richmond City Center neighborhood, 36.7% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 24.7% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (21.9%), and 16.7% in clerical, assistant, and tech support 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 Richmond City Center neighborhood is English, spoken by 95.1% of households. Other important languages spoken here include Spanish and Italian.

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the City Center neighborhood in Richmond, IN, residents most commonly identify their ethnicity or ancestry as Irish (16.5%). There are also a number of people of German ancestry (12.1%), and residents who report English roots (9.2%), and some of the residents are also of Italian ancestry (8.0%), along with some Mexican ancestry residents (4.1%), 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 Richmond City Center neighborhood spend under 15 minutes commuting one-way to work (60.0% of working residents), one of the shortest commutes across America.

Here most residents (64.6%) 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 (15.1%) and 14.4% of residents also carpool with coworkers, friends, or neighbors 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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