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Real Estate Prices & Overview

Blackwood median real estate price is $799,144, which is more expensive than 95.0% of the neighborhoods in North Carolina and 87.1% of the neighborhoods in the U.S.

The average rental price in Blackwood is currently $2,909, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 88.1% of the neighborhoods in North Carolina.

Blackwood is a suburban neighborhood (based on population density) located in Chapel Hill, North Carolina.

Blackwood real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and mobile homes. Most of the residential real estate is owner occupied. Many of the residences in the Blackwood neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.

Blackwood has a 11.9% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 67.6% 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

If knowledge is power, then imagine the cumulative power of one neighborhood where many of the adults have earned an advanced degree, such as a Masters, law degree, medical degree, or even a Ph.D. This is certainly the case in the Blackwood neighborhood, where 50.2% have earned an advanced degree. Compare that to the average neighborhood in America, where just 13.1% of adults have completed a post-graduate degree, and you can see why this neighborhood is a stand out. In fact, this neighborhood has a higher rate of adults with an advanced degree than 99.3% of the neighborhoods in America.

In addition, if you are planning to retire in North Carolina, this neighborhood should be on your must-see list. For many reasons, Blackwood may be considered a retiree's dream neighborhood. According to NeighborhoodScout's exclusive analysis and metrics, it's peaceful and quiet, has above average safety from crime compared to other neighborhoods in North Carolina, while also offering a diverse range of housing options. This, along with the vibrant mix of very educated seniors and other age groups who choose to live here, makes the neighborhood more retiree-friendly than 98.7% of neighborhoods in NC. If a North Carolina retirement is in your future, this neighborhood should be one of the places you visit. In addition to being an excellent choice for active retirees, this neighborhood is also a very good choice for families with school-aged children, highly educated executives and urban sophisticates.

Also, priests and therapists would like to think they know the secrets to a truly successful marriage, but according to NeighborhoodScout's research, the folks of the Blackwood neighborhood may actually hold the key. 71.9% of its residents are married, which is a higher percentage than is found in 98.6% of the neighborhoods in America.

Finally, wealth makes most things in life easier, and a few things harder. If you are wealthy and enjoy keeping up with the Jones', this neighborhood will interest you. In fact, according to NeighborhoodScout's research, the Blackwood neighborhood is wealthier than 96.6% of the neighborhoods in the United States. Residents here are truly in a unique situation even when compared to other Americans, based on the sheer amount of wealth concentrated here. Even in times of economic downturn, residents of this neighborhood, as a group, suffered less and recovered more quickly. This is indeed a stand-out characteristic of this neighborhood.

Modes of Transportation

In the Blackwood neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 30.9% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 98.9% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.

Diversity

Did you know that the Blackwood neighborhood has more Scottish and Czechoslovakian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 7.2% of this neighborhood's residents have Scottish ancestry and 1.1% have Czechoslovakian ancestry.

Blackwood is also pretty special linguistically. Significantly, 1.8% of its residents five years old and above primarily speak Korean at home. While this may seem like a small percentage, it is higher than 95.5% of the neighborhoods in America.

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 Blackwood neighborhood in Chapel Hill are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 96.6% of the neighborhoods in America. With 11.9% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 52.7% of U.S. neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Blackwood neighborhood, 62.9% 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 15.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (12.6%), and 8.6% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Blackwood neighborhood is English, spoken by 87.2% of households. Some people also speak Spanish (4.3%).

Ethnicity / Ancestry

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 Blackwood neighborhood in Chapel Hill, NC, residents most commonly identify their ethnicity or ancestry as English (16.6%). There are also a number of people of German ancestry (12.5%), and residents who report Asian roots (9.5%), and some of the residents are also of Irish ancestry (9.2%), along with some Scottish ancestry residents (7.2%), among others. In addition, 13.1% of the residents of this neighborhood were born in another country.

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 Blackwood neighborhood spend between 15 and 30 minutes commuting one-way to work (45.5% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (63.7%) 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.


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