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Real Estate Prices & Overview

Rivertown median real estate price is $378,590, which is more expensive than 83.0% of the neighborhoods in Michigan and 58.1% of the neighborhoods in the U.S.

The average rental price in Rivertown is currently $2,468, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 89.8% of the neighborhoods in Michigan.

Rivertown is an urban neighborhood (based on population density) located in Detroit, Michigan.

Rivertown 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 Rivertown neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.

Vacant apartments or homes are a major fact of life in Rivertown. The current real estate vacancy rate here is 17.6%. This is higher than the rate of vacancies in 82.2% 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

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

People

Of note is NeighborhoodScout's research finding that the Rivertown 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 Rivertown community truly stands out from the rest in this regard.

In addition, one of the most interesting things about the Rivertown neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 64.4% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 99.4% of the neighborhoods in America.

Also, if knowledge is power, then imagine the cumulative power of one neighborhood where many of the adults have earned an advanced degree, such as a Masters, law degree, medical degree, or even a Ph.D. This is certainly the case in the Rivertown neighborhood, where 35.5% have earned an advanced degree. Compare that to the average neighborhood in America, where just 13.1% of adults have completed a post-graduate degree, and you can see why this neighborhood is a stand out. In fact, this neighborhood has a higher rate of adults with an advanced degree than 95.4% of the neighborhoods in America.

Real Estate

The Rivertown 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 95.7% 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.

In addition, one of the really unique and interesting things about the look and setting of the Rivertown neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 94.1% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 98.8% of all neighborhoods in America.

Modes of Transportation

In the Rivertown 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 12.1% of residents here. This is a higher proportion of walking commuters than we found in 95.9% of American neighborhoods. Get ready to put on your walking shoes if you move here!

Diversity

Did you know that the Rivertown neighborhood has more Sub-Saharan African and African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 15.9% of this neighborhood's residents have Sub-Saharan African ancestry and 9.9% have African ancestry.

Rivertown is also pretty special linguistically. Significantly, 2.0% of its residents five years old and above primarily speak German/Yiddish at home. While this may seem like a small percentage, it is higher than 96.2% 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 Rivertown neighborhood in Detroit are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 44.8% of the neighborhoods in America. 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 Rivertown neighborhood, 64.9% 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 13.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (11.6%), and 9.9% in manufacturing and laborer 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 Rivertown neighborhood is English, spoken by 86.9% of households. Other important languages spoken here include Spanish and Italian.

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 Rivertown neighborhood in Detroit, MI, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (15.9%). There are also a number of people of German ancestry (11.9%), and residents who report African roots (9.9%), and some of the residents are also of Irish ancestry (9.5%), along with some Italian ancestry residents (5.5%), 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 Rivertown neighborhood spend under 15 minutes commuting one-way to work (36.6% of working residents), one of the shortest commutes across America.

Here most residents (67.5%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (12.1%) . 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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