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Real Estate Prices & Overview

Speedway West median real estate price is $159,084, which is less expensive than 69.9% of Indiana neighborhoods and 85.1% of all U.S. neighborhoods.

The average rental price in Speedway West is currently $1,571, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 65.3% of the neighborhoods in Indiana.

Speedway West is an urban neighborhood (based on population density) located in Indianapolis, Indiana.

Speedway West 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 townhomes. Most of the residential real estate is renter occupied. Many of the residences in the Speedway 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.

Speedway West has a 12.4% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 70.8% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.

Notable & Unique Neighborhood Characteristics

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

Occupations

NeighborhoodScout's exclusive research identifies the Speedway West 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 45.3% of its working residents employed in such fields, which is a higher proportion than 97.3% of American neighborhoods.

Real Estate

87.9% of the real estate in the Speedway West neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.

Diversity

Did you know that the Speedway West neighborhood has more Sub-Saharan African and Haitian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 21.3% of this neighborhood's residents have Sub-Saharan African ancestry and 4.1% have Haitian ancestry.

Speedway West is also pretty special linguistically. Significantly, 6.9% of its residents five years old and above primarily speak African languages at home. While this may seem like a small percentage, it is higher than 99.3% 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 Speedway West neighborhood in Indianapolis are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 87.5% of U.S. neighborhoods. With 48.8% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 93.5% 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 Speedway West neighborhood, 45.3% 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 27.0% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (14.6%), and 13.1% in executive, management, and professional 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 Speedway West neighborhood is English, spoken by 60.2% of households. Other important languages spoken here include Spanish, African languages and French.

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 Speedway West neighborhood in Indianapolis, IN, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (21.3%). There are also a number of people of South American ancestry (4.2%), and residents who report Haitian roots (4.1%), and some of the residents are also of Mexican ancestry (3.1%), along with some African ancestry residents (3.1%), among others. In addition, 36.4% of the residents of this neighborhood were born in another country.

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 Speedway West neighborhood spend between 15 and 30 minutes commuting one-way to work (59.3% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (72.5%) 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 (18.5%) . 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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