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Real Estate Prices & Overview

Franklin Village / Old East Durham median real estate price is $358,440, which is more expensive than 57.7% of the neighborhoods in North Carolina and 48.7% of the neighborhoods in the U.S.

The average rental price in Franklin Village / Old East Durham is currently $2,215, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 73.4% of the neighborhoods in North Carolina.

Franklin Village / Old East Durham is a suburban neighborhood (based on population density) located in Durham, North Carolina.

Franklin Village / Old East Durham real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Franklin Village / Old East Durham 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.

Franklin Village / Old East Durham has a 11.5% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 67.5% 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.

People

One of the unique characteristics of the Franklin Village / Old East Durham neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 95.5% of the neighborhoods in America.

Diversity

Did you know that the Franklin Village / Old East Durham neighborhood has more Canadian and Cuban ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.4% of this neighborhood's residents have Canadian ancestry and 4.8% have Cuban ancestry.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Franklin Village / Old East Durham neighborhood in Durham are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 95.5% of U.S. neighborhoods. With 36.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 86.5% 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 Franklin Village / Old East Durham neighborhood, 31.1% 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 executive, management, and professional occupations, with 30.9% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (23.8%), and 14.2% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Franklin Village / Old East Durham neighborhood is English, spoken by 69.6% of households. Some people also speak Spanish (27.7%).

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 Franklin Village / Old East Durham neighborhood in Durham, NC, residents most commonly identify their ethnicity or ancestry as Mexican (13.0%). There are also a number of people of Cuban ancestry (4.8%), and residents who report English roots (4.1%), and some of the residents are also of Irish ancestry (3.5%), along with some German ancestry residents (2.9%), among others. In addition, 25.3% 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 Franklin Village / Old East Durham neighborhood spend between 15 and 30 minutes commuting one-way to work (40.8% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (63.0%) 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 (21.1%) . 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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