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Real Estate Prices & Overview

Cedar Knolls / Spring Hollow median real estate price is $526,376, which is more expensive than 96.3% of the neighborhoods in Indiana and 71.0% of the neighborhoods in the U.S.

The average rental price in Cedar Knolls / Spring Hollow is currently $1,868, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 83.6% of the neighborhoods in Indiana.

Cedar Knolls / Spring Hollow is a suburban neighborhood (based on population density) located in Indianapolis, Indiana.

Cedar Knolls / Spring Hollow real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Cedar Knolls / Spring Hollow neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built before 1940.

Home and apartment vacancy rates are 6.1% in Cedar Knolls / Spring Hollow. NeighborhoodScout analysis shows that this rate is lower than 59.3% of the neighborhoods in the nation, approximately near the middle range for vacancies.

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 Indianapolis, the Cedar Knolls / Spring Hollow neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

Corner bodegas, stores on the first floor and apartments above, former grand Victorian residences converted into apartments, three-deckers built shoulder-to-shoulder, duplexes. Such building types define the real estate of neighborhoods dominated by small 2, 3, and 4 unit apartment buildings. Many are in older core neighborhoods of Eastern and Midwestern cities, or historic town centers in their hinterlands. If you wax romantic about the look and feel of such neighborhoods, with fresh pizza, falafel and an independent florist at the corner, then you might find the Cedar Knolls / Spring Hollow neighborhood worth a close look. This neighborhood is an absolutely outstanding example of the dominance of small 2, 3, and 4 unit apartment buildings compared to neighborhoods across the nation, as they make up a substantial portion of this neighborhood's real estate stock. In fact, no less than 37.1% of the real estate here is made up of such dwellings, which is higher than 96.5% of all U.S. neighborhoods.

Diversity

Did you know that the Cedar Knolls / Spring Hollow neighborhood has more African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 6.6% of this neighborhood's residents have African ancestry.

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 Cedar Knolls / Spring Hollow neighborhood in Indianapolis are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 45.6% of the neighborhoods in America. In addition, 7.4% 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 57.6% of America's neighborhoods.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the Cedar Knolls / Spring Hollow neighborhood, 38.5% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 31.2% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (21.5%), and 8.9% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Cedar Knolls / Spring Hollow neighborhood is English, spoken by 93.7% of households.

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 Cedar Knolls / Spring Hollow neighborhood in Indianapolis, IN, residents most commonly identify their ethnicity or ancestry as Irish (8.3%). There are also a number of people of German ancestry (7.2%), and residents who report English roots (6.6%), and some of the residents are also of Sub-Saharan African ancestry (6.6%), along with some African ancestry residents (6.6%), 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 Cedar Knolls / Spring Hollow neighborhood spend between 15 and 30 minutes commuting one-way to work (59.1% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (88.0%) 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 (6.3%) . 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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