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Real Estate Prices & Overview

Craven Terrace median real estate price is $184,923, which is more expensive than 23.4% of the neighborhoods in North Carolina and 20.9% of the neighborhoods in the U.S.

The average rental price in Craven Terrace is currently $1,510, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 64.6% of North Carolina neighborhoods.

Craven Terrace is a suburban neighborhood (based on population density) located in New Bern, North Carolina. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).

Craven Terrace 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 renter occupied. Many of the residences in the Craven Terrace neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

Vacant apartments or homes are a major fact of life in Craven Terrace. The current real estate vacancy rate here is 30.2%. This is higher than the rate of vacancies in 94.8% 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 New Bern, the Craven Terrace neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

Craven Terrace is a neighborhood that is on the ocean, a bay, or inlet. Many times, such places have amenities that bring locals and visitors to the waterfront for recreational activities or to check out the scenery. In some densely populated areas that are less financially well-off, the neighborhood waterfront can be relatively industrial and less open to recreation. In addition to being coastal, Craven Terrace is a very nautical neighborhood, meaning that it is somewhat historic, walkable, densely populated and on the water. This gives the neighborhood a very nautical feel, with some seaside and shipping feel, which some may really enjoy the sights and sounds of.

People

Single parenting is hard. But you don't have to tell the Craven Terrace neighborhood about it; they already know. 19.7% of this neighborhood's households are run by single mothers, which is a higher concentration than NeighborhoodScout found in 96.8% of American neighborhoods. Further NeighborhoodScout research showed strong statistical correlations among high rates of children living in single parent households, and neighborhood crime, particularly violent crime, neighborhood poverty, and, importantly, the percentage of low weight births and rates of infant mortality.

In addition, the Craven Terrace neighborhood stands out for having an average per capita income lower than 96.1% of the neighborhoods in the United States.

Car Ownership

Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the Craven Terrace neighborhood have a highly unusual car ownership. 25.9% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 96.5% of U.S. neighborhoods.

Diversity

Did you know that the Craven Terrace neighborhood has more French and Lithuanian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 10.0% of this neighborhood's residents have French ancestry and 1.4% have Lithuanian 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 Craven Terrace neighborhood in New Bern are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 96.1% of U.S. neighborhoods. With 43.8% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 91.2% 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 Craven Terrace neighborhood, 36.4% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 32.6% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (25.2%), and 5.8% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Craven Terrace neighborhood is English, spoken by 94.1% of households. Some people also speak Spanish (5.9%).

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 Craven Terrace neighborhood in New Bern, NC, residents most commonly identify their ethnicity or ancestry as German (11.0%). There are also a number of people of French ancestry (10.0%), and residents who report Sub-Saharan African roots (6.4%), and some of the residents are also of African ancestry (6.4%), along with some Puerto Rican ancestry residents (6.3%), 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 Craven Terrace neighborhood spend under 15 minutes commuting one-way to work (52.6% of working residents), one of the shortest commutes across America.

Here most residents (79.5%) 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 (11.4%) . 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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