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Real Estate Prices & Overview

Balfour median real estate price is $371,211, which is more expensive than 63.6% of the neighborhoods in North Carolina and 52.0% of the neighborhoods in the U.S.

The average rental price in Balfour is currently $1,721, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 52.3% of North Carolina neighborhoods.

Balfour is a suburban neighborhood (based on population density) located in Hendersonville, North Carolina.

Balfour real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Balfour neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

Balfour has a 11.5% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 67.6% of American neighborhoods). A relatively large percentage of housing here is seasonally occupied (6.3%), which can occur in some markets dominated by colleges or vacation homes. If you live here year round, you will find many of the homes or apartments are empty for all or a portion of the year.

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.

Modes of Transportation

If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 2.7% of residents in the Balfour neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 95.2% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.

Diversity

Did you know that the Balfour neighborhood has more Scots-Irish and Welsh ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.1% of this neighborhood's residents have Scots-Irish ancestry and 2.8% have Welsh ancestry.

Balfour is also pretty special linguistically. Significantly, 1.0% of its residents five years old and above primarily speak Greek at home. While this may seem like a small percentage, it is higher than 97.1% of the neighborhoods in America.

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 Balfour neighborhood in Hendersonville are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 44.6% of the neighborhoods in America. In addition, 4.5% 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 66.3% 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 Balfour neighborhood, 47.2% 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 27.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (15.6%), 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 Balfour neighborhood is English, spoken by 94.1% of households. Other important languages spoken here include Italian and Spanish.

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 Balfour neighborhood in Hendersonville, NC, residents most commonly identify their ethnicity or ancestry as Irish (22.0%). There are also a number of people of English ancestry (21.7%), and residents who report German roots (16.9%), and some of the residents are also of Italian ancestry (7.6%), along with some Scots-Irish ancestry residents (5.1%), 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 Balfour neighborhood spend under 15 minutes commuting one-way to work (44.8% of working residents), one of the shortest commutes across America.

Here most residents (83.7%) 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 (7.6%) . 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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