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Real Estate Prices & Overview

Edgewood West median real estate price is $273,439, which is more expensive than 68.0% of the neighborhoods in Indiana and 37.4% of the neighborhoods in the U.S.

The average rental price in Edgewood West is currently $1,515, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 40.1% of Indiana neighborhoods.

Edgewood West is a suburban neighborhood (based on population density) located in Indianapolis, Indiana.

Edgewood West real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Edgewood West neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

In Edgewood West, 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 Edgewood West is very tight compared to the demand for property here.

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 Edgewood West neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the Edgewood West neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.

Modes of Transportation

If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 3.4% of residents in the Edgewood West neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 96.5% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.

People

Edgewood West is ranked among the top 9.7% of neighborhoods for first-time home buyers to consider in the state of Indiana according to NeighborhoodScout's exclusive analysis. Homes here are priced below median housing values in the state, yet maintain moderate appreciation rates compared to other communities. Buying into the Edgewood West neighborhood is not only an accessible option but an investment opportunity for many first-time home buyers.

Diversity

Significantly, 0.5% of its residents five years old and above primarily speak Mon-Khmer, which is the dominant language of Cambodia, at home. While this may seem like a small percentage, it is higher than 98.1% of the neighborhoods in America.

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 Edgewood West neighborhood in Indianapolis are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 72.6% of U.S. neighborhoods. With 31.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 82.3% of U.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 Edgewood West neighborhood, 36.8% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 34.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (15.8%), and 12.8% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

Languages

The most common language spoken in the Edgewood West neighborhood is English, spoken by 75.4% of households. Some people also speak Spanish (5.5%).

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Edgewood West neighborhood in Indianapolis, IN, residents most commonly identify their ethnicity or ancestry as Asian (19.4%). There are also a number of people of German ancestry (9.0%), and residents who report Mexican roots (6.8%), and some of the residents are also of Irish ancestry (4.4%), along with some Sub-Saharan African ancestry residents (4.4%), among others. In addition, 24.7% of the residents of this neighborhood were born in another country.

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 Edgewood West neighborhood spend between 15 and 30 minutes commuting one-way to work (40.6% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (75.5%) 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 (7.2%) and 6.4% 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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