Real Estate Prices and Overview
8th Ave S / Wedgewood Ave median real estate prices are $137,182, which is more expensive than 63.8% of the neighborhoods
in Tennessee and 40.5% of the
neighborhoods in the U.S.
Average rental prices in 8th Ave S / Wedgewood Ave are currently
$444, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price then 77.4% of Tennessee neighborhoods.
8th Ave S / Wedgewood Ave is an urban neighborhood (based on population
density) located in Nashville, Tennessee.
8th Ave S / Wedgewood Ave 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 8th Ave S / Wedgewood Ave neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
8th Ave S / Wedgewood Ave has a 14.0% vacancy rate, which is
well above average compared to other U.S. neighborhoods (higher than
70.2% of American neighborhoods). This could either
signal that there is weak demand for real estate in the neighborhood,
or that much of the housing stock is seasonally occupied,
which can occur in some markets dominated by colleges or vacation homes.
Either way, if you live here year round, you will find many of the homes
or apartments are empty for all or a portion of the year.
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 Nashville,
the 8th Ave S / Wedgewood Ave neighborhood, has some outstanding things about the way it
looks and its way of life that are worth highlighting.
Notable & Unique: Diversity
Significantly, 5.3% of its residents five years old and above primarily
speak Vietnamese at home. While this may seem like a small percentage, it is higher
than 98.5% of the neighborhoods in America.
Notable & Unique: People
One of the unique characteristics of the 8th Ave S / Wedgewood Ave
neighborhood revealed by analysis is that the per capita income of
residents here is lower than that found in 96.7% of the neighborhoods
Also of note, 69.5% 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, the types of households in a neighborhood can tell a lot about the character
and lifestyle of those living here. NeighborhoodScout's exclusive analysis
reveals that this neighborhood, above nearly every neighborhood in America,
has a greater percentage of its residents living alone: 45.4%. This
is a higher percent living alone than we found in 95.7% of
all U.S. neighborhoods. Often residents who live alone are new arrivals
to an area who are single, and often senior citizens who have lost a spouse.
Notable & Unique: Occupations
From major sales accounts to fast-food workers, sales and service employees
are often the backbone of the local economy. In the 8th Ave S / Wedgewood Ave
neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis
identifies this neighborhood as having a higher percentage of sales and
service workers than 96.2% of all American neighborhoods.
The Neighbors: Income
There are two complimentary 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 8th Ave S / Wedgewood Ave neighborhood in Nashville are low income, making it among the lowest income neighborhoods in America.
NeighborhoodScout's research shows that this neighborhood has an income lower
than 96.7% of U.S. neighborhoods.
With 69.5% of the children here below the federal poverty
line, this neighborhood has a higher rate of childhood poverty than 97.8%
of U.S. neighborhoods.
The Neighbors: Occupations
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 8th Ave S / Wedgewood Ave neighborhood, 43.5%
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 32.2% of the residents employed.
Other residents here are employed in clerical, assistant, and tech support occupations
(19.6%), and 5.1% in government jobs, whether they are in local, state, or federal positions.
The Neighbors: 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 8th Ave S / Wedgewood Ave neighborhood in Nashville, TN, residents
most commonly identify their ethnicity or ancestry as German
(4.4%). There are also a number of people of English ancestry (2.6%) , and residents who report Mexican roots (1.8%) , and some of the residents are also of Asian ancestry (1.5%) , along with some Irish ancestry residents (1.4%), among others.
The Neighbors: Languages
The most common language spoken in the 8th Ave S / Wedgewood Ave
neighborhood is English, spoken by 93.0% of households. Some people also speak Vietnamese (5.3%).
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 8th Ave S / Wedgewood Ave neighborhood spend
between 15 and 30 minutes commuting one-way to work (60.0% of working
residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (72.8%) 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 (20.7%) . In a neighborhood like this, as in most of the nation, many residents find owning
a car useful for getting to work.