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Real Estate Prices & Overview

Walnut / Franklin Gateway median real estate price is $66,784, which is less expensive than 96.0% of Iowa neighborhoods and 97.3% of all U.S. neighborhoods.

The average rental price in Walnut / Franklin Gateway is currently $1,005, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 91.4% of Iowa neighborhoods.

Walnut / Franklin Gateway is a suburban neighborhood (based on population density) located in Waterloo, Iowa.

Walnut / Franklin Gateway 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 Walnut / Franklin Gateway 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 1970 and 1999.

Vacant apartments or homes are a major fact of life in Walnut / Franklin Gateway. The current real estate vacancy rate here is 18.3%. This is higher than the rate of vacancies in 83.3% 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

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: 66.3%. This is a higher percent living alone than we found in 99.5% 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.

In addition, the Walnut / Franklin Gateway neighborhood stands out for having an average per capita income lower than 99.4% of the neighborhoods in the United States. The Walnut / Franklin Gateway neighborhood also has a greater percentage of children living in poverty (61.4%) than found in 97.1% of all U.S. neighborhoods. Children living in poverty is one of the challenges facing America, and the world, and in this neighborhood in particular, the problem can be considered acute.

Occupations

NeighborhoodScout's exclusive research identifies the Walnut / Franklin Gateway neighborhood as having one of the highest concentrations of people employed in manufacturing or as laborers of any neighborhood in America. In fact, despite the loss of manufacturing jobs nationally, this neighborhood has 46.6% of its working residents employed in such fields, which is a higher proportion than 97.8% of American neighborhoods.

Real Estate

Renter-occupied real estate is dominant in the Walnut / Franklin Gateway neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 91.3%, which is higher than 97.1% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.

In addition, the Walnut / Franklin Gateway 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 86.0% 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.

Car Ownership

We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the Walnut / Franklin Gateway neighborhood has a highly unusual pattern of car ownership. 26.0% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 96.6% of U.S. neighborhoods.

Modes of Transportation

More people ride the bus in this neighborhood each day to get to work than 95.5% of U.S. neighborhoods.

Diversity

Did you know that the Walnut / Franklin Gateway neighborhood has more Yugoslav and Croatian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.1% of this neighborhood's residents have Yugoslav ancestry and 0.7% have Croatian ancestry.

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 Walnut / Franklin Gateway neighborhood. In the Walnut / Franklin Gateway neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 97.8% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Walnut / Franklin Gateway neighborhood in Waterloo are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 99.4% of U.S. neighborhoods. With 61.4% 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.

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 Walnut / Franklin Gateway neighborhood, 46.6% of the working population is employed in manufacturing and laborer 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 25.9% of the residents employed. Other residents here are employed in executive, management, and professional occupations (18.5%), and 9.0% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Walnut / Franklin Gateway neighborhood is English, spoken by 87.1% of households. Some people also speak Spanish (11.4%).

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 Walnut / Franklin Gateway neighborhood in Waterloo, IA, residents most commonly identify their ethnicity or ancestry as German (12.8%). There are also a number of people of Mexican ancestry (7.3%), and residents who report Irish roots (5.8%), and some of the residents are also of English ancestry (4.3%), along with some Dutch ancestry residents (2.7%), among others.

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 Walnut / Franklin Gateway neighborhood spend between 15 and 30 minutes commuting one-way to work (49.4% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (62.9%) 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 (13.8%) and 11.9% of residents also ride the bus 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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