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Real Estate Prices & Overview

Terrace Village Dr median real estate price is $150,278, which is less expensive than 76.7% of Michigan neighborhoods and 86.3% of all U.S. neighborhoods.

The average rental price in Terrace Village Dr is currently $1,371, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 67.2% of Michigan neighborhoods.

Terrace Village Dr is a suburban neighborhood (based on population density) located in Taylor, Michigan.

Terrace Village Dr 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 single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Terrace Village Dr neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 2000 and the present.

In Terrace Village Dr, 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 Terrace Village Dr is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

Real Estate

With a real estate vacancy rate of only 0.0%, the Terrace Village Dr neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.

People

Astoundingly, the Terrace Village Dr neighborhood has one of the highest concentrations of divorcees living here than of any neighborhood, a higher concentration than NeighborhoodScout found in 98.2% of U.S. neighborhoods. This may be because people living here divorce more often than others, or that divorced people move here after they become divorced. If you are divorced, you will be in good company in this particular Taylor neighborhood.

Diversity

Did you know that the Terrace Village Dr neighborhood has more Finnish and Polish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.0% of this neighborhood's residents have Finnish ancestry and 10.5% have Polish ancestry.

Migration / Stability

Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. In the Terrace Village Dr neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 95.6% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

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 Terrace Village Dr neighborhood in Taylor are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 79.5% of U.S. neighborhoods. With 30.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 81.7% of U.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 Terrace Village Dr neighborhood, 35.4% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 32.5% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (20.5%), and 11.6% in executive, management, and professional occupations.

Languages

The most common language spoken in the Terrace Village Dr neighborhood is English, spoken by 98.8% of households. Some people also speak Polish (4.8%).

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 Terrace Village Dr neighborhood in Taylor, MI, residents most commonly identify their ethnicity or ancestry as Polish (10.5%). There are also a number of people of Irish ancestry (10.0%), and residents who report German roots (5.7%), and some of the residents are also of Mexican ancestry (5.5%), along with some English ancestry residents (3.4%), among others.

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 Terrace Village Dr neighborhood spend under 15 minutes commuting one-way to work (43.8% of working residents), one of the shortest commutes across America.

Here most residents (68.9%) 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 (14.0%) and 7.3% 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.


Real Estate includes:
Average Home Values
Rental Market
Housing Market Details
Neighborhood Setting
Economics & Demographics include:
Lifestyle & Special Character
Household Types
Commute To Work
Migration & Mobility
Race & Ethnic Diversity
Employment Industries & Occupations
Income & Unemployment Rate
Higher Education Attainment
Crime includes:
Neighborhood Crime Index
Crimes Per Square Mile
Property Crime Comparison
Violent Crime Comparison
Schools include:
School Ratings
Schools In District
Public School Test Scores
School District Enrollment
Educational Expenditures

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