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Real Estate Prices & Overview

Old Fourth Ward median real estate price is $623,777, which is more expensive than 96.8% of the neighborhoods in Michigan and 78.8% of the neighborhoods in the U.S.

The average rental price in Old Fourth Ward is currently $2,183, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 87.2% of the neighborhoods in Michigan.

Old Fourth Ward is a densely urban neighborhood (based on population density) located in Ann Arbor, Michigan.

Old Fourth Ward real estate is primarily made up of small (studio to two bedroom) to large (four, five or more 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 Old Fourth Ward 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 1940 and 1969.

Home and apartment vacancy rates are 7.4% in Old Fourth Ward. NeighborhoodScout analysis shows that this rate is lower than 51.3% of the neighborhoods in the nation, approximately near the middle range for vacancies.

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.

People

The Old Fourth Ward neighborhood stands out for having an average per capita income lower than 97.4% of the neighborhoods in the United States. Also of note is NeighborhoodScout's research finding that the Old Fourth Ward neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Old Fourth Ward community truly stands out from the rest in this regard.

In addition, 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 90.0% of the adults living in the Old Fourth Ward neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 99.7% of U.S. neighborhoods. In this way, this neighborhood truly stands out.

Also, one of the really interesting characteristics about the Old Fourth Ward neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 2.3% of college-friendly places to live in the state of Michigan.

Finally, there is an especially high percentage of incarcerated people (0.7%) living in the Old Fourth Ward neighborhood.

Modes of Transportation

In the Old Fourth Ward neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 45.1% of residents here. This is a higher proportion of walking commuters than we found in 99.7% of American neighborhoods. Get ready to put on your walking shoes if you move here!

Also, if your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 9.7% of residents in the Old Fourth Ward neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 99.6% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.

Real Estate

98.5% of the real estate in the Old Fourth Ward neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.

In addition, even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The Old Fourth Ward neighborhood is among the top 5% of American neighborhoods in terms of walkability.

Furthermore, the real estate in the Old Fourth Ward neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 71.9% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 95.4% of American neighborhoods.

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 Old Fourth Ward neighborhood. In the Old Fourth Ward neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.7% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

Diversity

Did you know that the Old Fourth Ward neighborhood has more Austrian and Armenian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.2% of this neighborhood's residents have Austrian ancestry and 1.0% have Armenian ancestry.

Old Fourth Ward is also pretty special linguistically. Significantly, 5.1% of its residents five years old and above primarily speak Korean at home. While this may seem like a small percentage, it is higher than 98.9% 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 Old Fourth Ward neighborhood in Ann Arbor are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 97.4% of U.S. neighborhoods. In addition, 0.0% 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 100.0% 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 Old Fourth Ward neighborhood, 68.1% 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 17.0% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (11.4%), and 3.5% 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 Old Fourth Ward neighborhood is English, spoken by 75.8% of households. Other important languages spoken here include Chinese, Korean and Spanish.

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 Old Fourth Ward neighborhood in Ann Arbor, MI, residents most commonly identify their ethnicity or ancestry as Asian (19.2%). There are also a number of people of German ancestry (13.3%), and residents who report Irish roots (9.5%), and some of the residents are also of Italian ancestry (8.6%), along with some English ancestry residents (6.1%), among others. In addition, 14.5% 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 Old Fourth Ward neighborhood spend between 15 and 30 minutes commuting one-way to work (43.9% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (45.1%) hop out the door and walk to work to get to work. In addition, quite a number also drive alone in a private automobile to get to work (17.3%) and 9.7% of residents also bicycle for their daily commute. This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.


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