Franklin Farm median real estate price is $1,048,307, which is more expensive than 94.2% of the neighborhoods in Virginia and 92.9% of the neighborhoods in the U.S.
The average rental price in Franklin Farm is currently $4,351, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 96.8% of the neighborhoods in Virginia.
Franklin Farm is a suburban neighborhood (based on population density) located in Herndon, Virginia.
Franklin Farm real estate is primarily made up of large (four, five or more bedroom) to medium sized (three or four bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Franklin Farm 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.
In Franklin Farm, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Franklin Farm is very tight compared to the demand for property here.
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 Herndon, the Franklin Farm neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Real Estate
Real estate in the Franklin Farm neighborhood is almost exclusively owner-occupied. NeighborhoodScout's analysis reveals that this neighborhood has a higher rate of owner-occupied housing than is found in 96.3% of U.S. neighborhoods. If you are seeking to rent, this neighborhood may not have many options, but high rates of ownership often indicate stability in a neighborhood. With a real estate vacancy rate of only 0.0%, the Franklin Farm neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.
In addition, one way that the Franklin Farm neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 99.8% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.
Furthermore, most neighborhoods are composed of a mixture of ages of homes, but the Franklin Farm stands out as rather unique in having nearly all of its residential real estate built in one time period, namely between 1970 and 1999, generally considered to be established, but not old housing. What you'll sense when you look around or drive the streets of this neighborhood is that many of the residences look the same because of this similarity of age. In fact, 86.9% of the residential real estate here was built in this one time period.
People
If you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 0.5% of America's neighborhoods are wealthier than the Franklin Farm neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe.
In addition, according to NeighborhoodScout's exclusive analysis, Franklin Farm is among the best neighborhoods for families in Virginia. In fact, this neighborhood is more family-friendly than 98.5% of neighborhoods in the entire state of Virginia. Its combination of top public schools, low crime rates, and owner-occupied single family homes gives this area the look and feel of a "Leave It to Beaver" episode. Many other families also live here, making it easy to socialize and develop a strong sense of community. In addition, the high number of college-educated parents influences the academic success of the local schools. Overall, you will find all of the amenities a family needs to thrive in the Franklin Farm neighborhood. In addition to being an excellent choice for families with school-aged children, this neighborhood is also a very good choice for urban sophisticates, highly educated executives and college students.
Also, do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 81.1% of the adults living in the Franklin Farm neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 98.1% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
Modes of Transportation
A unique way of commuting is simply not to. And in the Franklin Farm neighborhood, analysis shows that 34.5% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 98.6% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.
Occupations
The Franklin Farm neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 98.2% of the neighborhoods in America. In fact, 76.3% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
Diversity
Did you know that the Franklin Farm neighborhood has more Lithuanian and Asian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.3% of this neighborhood's residents have Lithuanian ancestry and 26.9% have Asian ancestry.
Franklin Farm is also pretty special linguistically. Significantly, 8.1% of its residents five years old and above primarily speak Chinese at home. While this may seem like a small percentage, it is higher than 97.1% of the neighborhoods in America.
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 Franklin Farm neighborhood in Herndon 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 99.5% of the neighborhoods in America. In addition, 1.6% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 76.8% of America'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 Franklin Farm neighborhood, 76.3% 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 13.7% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (9.1%), and 8.1% 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 Franklin Farm neighborhood is English, spoken by 77.6% of households. Other important languages spoken here include Chinese, Langs. of India and Korean.
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 Franklin Farm neighborhood in Herndon, VA, residents most commonly identify their ethnicity or ancestry as Asian (26.9%). There are also a number of people of Irish ancestry (15.2%), and residents who report English roots (13.4%), and some of the residents are also of German ancestry (11.8%), along with some Italian ancestry residents (9.4%), among others. In addition, 21.2% of the residents of this neighborhood were born in another country.
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 Franklin Farm neighborhood spend between 15 and 30 minutes commuting one-way to work (46.9% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (54.7%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (5.5%) and 5.1% 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.
