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Real Estate Prices & Overview

Elizabeth Park Valley median real estate price is $158,110, which is less expensive than 68.8% of Ohio neighborhoods and 85.3% of all U.S. neighborhoods.

The average rental price in Elizabeth Park Valley is currently $1,526, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 66.0% of the neighborhoods in Ohio.

Elizabeth Park Valley is a suburban neighborhood (based on population density) located in Akron, Ohio.

Elizabeth Park Valley 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 Elizabeth Park Valley neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 2000 and the present.

Home and apartment vacancy rates are 6.6% in Elizabeth Park Valley. NeighborhoodScout analysis shows that this rate is lower than 56.1% of the neighborhoods in the nation, approximately near the middle range for vacancies.

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 Akron, the Elizabeth Park Valley neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

Of particular note, 13.7% of the people in the Elizabeth Park Valley neighborhood currently reside in a correction facility, held due to punishment for a crime.

Real Estate

87.0% of the real estate in the Elizabeth Park Valley neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.

Diversity

Did you know that the Elizabeth Park Valley neighborhood has more Hungarian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 6.8% of this neighborhood's residents have Hungarian ancestry.

Migration / Stability

Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. In the Elizabeth Park Valley neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 97.5% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

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 Elizabeth Park Valley neighborhood in Akron are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 86.7% of U.S. neighborhoods. With 40.7% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 89.4% 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 Elizabeth Park Valley neighborhood, 38.2% 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 25.8% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (23.6%), and 12.4% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Elizabeth Park Valley neighborhood is English, spoken by 78.8% of households.

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Elizabeth Park Valley neighborhood in Akron, OH, residents most commonly identify their ethnicity or ancestry as Asian (18.7%). There are also a number of people of German ancestry (9.4%), and residents who report Hungarian roots (6.8%), and some of the residents are also of Irish ancestry (6.7%), along with some Italian ancestry residents (5.8%), among others. In addition, 19.1% 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 Elizabeth Park Valley neighborhood spend under 15 minutes commuting one-way to work (49.8% of working residents), one of the shortest commutes across America.

Here most residents (67.4%) 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 (11.2%) . 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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