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Real Estate Prices & Overview

Oberlin Village median real estate price is $839,487, which is more expensive than 96.1% of the neighborhoods in North Carolina and 87.5% of the neighborhoods in the U.S.

The average rental price in Oberlin Village is currently $2,298, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 76.3% of the neighborhoods in North Carolina.

Oberlin Village is an urban neighborhood (based on population density) located in Raleigh, North Carolina.

Oberlin Village 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 occupied by a mixture of owners and renters. Many of the residences in the Oberlin Village neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

Oberlin Village has a 13.2% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 73.2% 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

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

People

In a nation where 1 out of every 4 children lives in poverty, the Oberlin Village neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

In addition, one of the really interesting characteristics about the Oberlin Village neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 1.4% of college-friendly places to live in the state of North Carolina. In addition to being an excellent choice for college students, this neighborhood is also a very good choice for young, single professionals.

Also, neighborhoodScout's analysis shows that the Oberlin Village neighborhood has a greater concentration of residents currently enrolled in college than 97.5% of the neighborhoods in the U.S. With 18.3% of the population here attending college, this is very much a college-focused neighborhood.

Modes of Transportation

In the Oberlin Village neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 27.3% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 95.2% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.

Diversity

Did you know that the Oberlin Village neighborhood has more Scottish and Lebanese ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 7.4% of this neighborhood's residents have Scottish ancestry and 1.5% have Lebanese ancestry.

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 Oberlin Village neighborhood in Raleigh are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 46.5% 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 Oberlin Village neighborhood, 63.3% 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 18.5% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (12.4%), and 5.7% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Oberlin Village neighborhood is English, spoken by 95.3% of households. Some people also speak Spanish (2.7%).

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 Oberlin Village neighborhood in Raleigh, NC, residents most commonly identify their ethnicity or ancestry as English (19.2%). There are also a number of people of German ancestry (18.5%), and residents who report Irish roots (9.7%), and some of the residents are also of Scottish ancestry (7.4%), along with some Italian ancestry residents (5.0%), 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 Oberlin Village neighborhood spend between 15 and 30 minutes commuting one-way to work (51.3% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (57.0%) 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 (5.7%) and 5.7% of residents also carpool with coworkers, friends, or neighbors 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.


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