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Real Estate Prices & Overview

Virginia Lake median real estate price is $559,888, which is more expensive than 68.4% of the neighborhoods in Nevada and 71.6% of the neighborhoods in the U.S.

The average rental price in Virginia Lake is currently $1,418, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 91.3% of Nevada neighborhoods.

Virginia Lake is a densely urban neighborhood (based on population density) located in Reno, Nevada.

Virginia Lake 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 small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Virginia Lake neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Real estate vacancies in Virginia Lake are 4.4%, which is lower than one will find in 70.6% of American neighborhoods. Demand for real estate in Virginia Lake is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

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

The Virginia Lake neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 95.9% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.

In addition, the real estate in the Virginia Lake neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 91.9% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 98.5% of American neighborhoods.

Furthermore, renter-occupied real estate is dominant in the Virginia Lake neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 95.8%, which is higher than 98.2% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.

Modes of Transportation

Would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the Virginia Lake neighborhood is a fantastic option for bicycle commuters, as 5.8% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 98.6% of the neighborhoods in America.

Also, in the Virginia Lake neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 10.7% of residents here. This is a higher proportion of walking commuters than we found in 95.2% of American neighborhoods. Get ready to put on your walking shoes if you move here!

People

Divorcees may find friendship and understanding in this neighborhood, as 23.4% of its residents are divorced. NeighborhoodScout's exclusive analysis found that this divorce rate is higher than in 98.5% of the neighborhoods in America.

Diversity

Did you know that the Virginia Lake neighborhood has more Brazilian and Portuguese ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.2% of this neighborhood's residents have Brazilian ancestry and 2.2% have Portuguese ancestry.

Virginia Lake is also pretty special linguistically. Significantly, 0.2% of its residents five years old and above primarily speak Mon-Khmer, which is the dominant language of Cambodia, at home. While this may seem like a small percentage, it is higher than 96.6% 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 Virginia Lake neighborhood in Reno are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 94.1% of U.S. neighborhoods. With 19.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 68.2% of U.S. neighborhoods.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the Virginia Lake neighborhood, 33.5% 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 32.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (24.6%), and 9.3% in executive, management, and professional occupations.

Languages

The most common language spoken in the Virginia Lake neighborhood is English, spoken by 59.5% of households. Some people also speak Spanish (35.2%).

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 Virginia Lake neighborhood in Reno, NV, residents most commonly identify their ethnicity or ancestry as Mexican (46.7%). There are also a number of people of Irish ancestry (8.3%), and residents who report German roots (7.1%), and some of the residents are also of English ancestry (6.2%), along with some Asian ancestry residents (4.2%), among others. In addition, 28.8% 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 Virginia Lake neighborhood spend between 15 and 30 minutes commuting one-way to work (58.8% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (61.8%) 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 (10.7%) and 10.1% 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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