Cleveland Institute of Music / Wade Park Ave median real estate price is $168,115, which is more expensive than 54.9% of the neighborhoods in Ohio and 31.1% of the neighborhoods in the U.S.
The average rental price in Cleveland Institute of Music / Wade Park Ave is currently $1,249, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 73.1% of the neighborhoods in Ohio.
Cleveland Institute of Music / Wade Park Ave is an urban neighborhood (based on population density) located in Cleveland, Ohio.
Cleveland Institute of Music / Wade Park Ave real estate is primarily made up of small (studio to two bedroom) to large (four, five or more bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Cleveland Institute of Music / Wade Park Ave neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 2000 and the present.
Vacant apartments or homes are a major fact of life in Cleveland Institute of Music / Wade Park Ave. The current real estate vacancy rate here is 33.1%. This is higher than the rate of vacancies in 95.3% 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.
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 Cleveland, the Cleveland Institute of Music / Wade Park Ave neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
In the Cleveland Institute of Music / Wade Park Ave 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 55.4% of residents here. This is a higher proportion of walking commuters than we found in 99.7% of American neighborhoods. Get ready to put on your walking shoes if you move here!
One of the unique characteristics of the Cleveland Institute of Music / Wade Park Ave neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 99.7% of the neighborhoods in America. Also of note, 77.8% of the children in this area live in poverty; an extraordinarily high percentage compared to other neighborhoods in the nation. In a nation where approximately one in four children grows up in poverty, this neighborhood stands out for the depth of the problem manifested here.
In addition, neighborhoodScout's analysis shows that the Cleveland Institute of Music / Wade Park Ave neighborhood has a greater concentration of residents currently enrolled in college than 99.6% of the neighborhoods in the U.S. With 72.7% of the population here attending college, this is very much a college-focused neighborhood.
Also, one of the really interesting characteristics about the Cleveland Institute of Music / Wade Park Ave 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 3.4% of college-friendly places to live in the state of Ohio.
96.4% of the real estate in the Cleveland Institute of Music / Wade Park Ave neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America. Vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 33.1% of the residential real estate vacant, the Cleveland Institute of Music / Wade Park Ave neighborhood claims the distinction of having a higher vacancy rate than 95.3% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.
In addition, the Cleveland Institute of Music / Wade Park Ave 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 89.8% 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.
Furthermore, the real estate in the Cleveland Institute of Music / Wade Park Ave 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, 82.0% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 97.4% of American neighborhoods.
Also of note, do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The Cleveland Institute of Music / Wade Park Ave neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 69.3% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 98.0% of the neighborhoods in the United States.
Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Cleveland Institute of Music / Wade Park Ave neighborhood. In the Cleveland Institute of Music / Wade Park Ave neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.7% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
Did you know that the Cleveland Institute of Music / Wade Park Ave neighborhood has more British and Romanian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.5% of this neighborhood's residents have British ancestry and 1.0% have Romanian ancestry.
Cleveland Institute of Music / Wade Park Ave is also pretty special linguistically. Significantly, 8.9% of its residents five years old and above primarily speak Chinese at home. While this may seem like a small percentage, it is higher than 97.6% of the neighborhoods in America.
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 Cleveland Institute of Music / Wade Park Ave neighborhood in Cleveland are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 99.7% of U.S. neighborhoods. With 77.8% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 99.4% 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 Cleveland Institute of Music / Wade Park Ave neighborhood, 50.6% 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 24.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (19.5%), and 5.0% in manufacturing and laborer occupations.
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 Cleveland Institute of Music / Wade Park Ave neighborhood is English, spoken by 75.6% of households. Other important languages spoken here include Chinese, Spanish, Korean and Arabic.
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 Cleveland Institute of Music / Wade Park Ave neighborhood in Cleveland, OH, residents most commonly identify their ethnicity or ancestry as German (18.4%). There are also a number of people of Asian ancestry (17.9%), and residents who report Irish roots (10.9%), and some of the residents are also of Italian ancestry (10.5%), along with some Polish ancestry residents (7.5%), among others. In addition, 17.7% of the residents of this neighborhood were born in another country.
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 Cleveland Institute of Music / Wade Park Ave neighborhood spend under 15 minutes commuting one-way to work (47.6% of working residents), one of the shortest commutes across America.
Here most residents (55.4%) hop out the door and walk to work to get to work. In addition, quite a number also drive alone in a private automobile to get to work (28.3%) and 6.9% of residents also carpool with coworkers, friends, or neighbors for their daily commute. This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.
Analytics built by: Location, Inc.
Raw data sources: National Agriculture Statistics Service, U.S. Department of Agriculture, Federal Housing Finance Agency, U.S. Department of Housing and Urban Development, U.S. Bureau of the Census, U.S. Geological Service, American Community Survey.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
Analytics built by: Location, Inc.
Raw data sources: American Community Survey, U.S. Bureau of the Census, U.S. Department of Education, 50 state departments of education, U.S. Bureau of Labor Statistics, Federal Bureau of Investigation, 18,000+ local law enforcement agencies, Federal Housing Finance Agency, U.S. Geological Service, National Agricultural Statistics Service.
Date(s) & Update Frequency: 2019 (latest available). Updated annually. Please note: Unemployment data updated August 2021.
Methodology: Unlike standardly available Census demographics, NeighborhoodScout uses dozens of custom models to transform 8.5 million raw demographic data elements from government sources into proprietary indices and insights…. Read more about Scout's Demographic Data
Analytics built by: Location, Inc.
Raw data sources: 18,000 local law enforcement agencies in the U.S.
Date(s) & Update Frequency: Reflects 2019 calendar year; released from FBI in Sept. 2020 (latest available). Updated annually. Where is 2020 data?
Methodology: Our nationwide meta-analysis overcomes the issues inherent in any crime database, including non-reporting and reporting errors. This is possible by associating the 9.4 million reported crimes in the U.S, including over 2 million geocoded point locations…. Read more about Scout's Crime Data
Analytics built by: Location, Inc.
Methodology: Only NeighborhoodScout gives you nationally comparable school ranks based on test scores, so you can directly compare the quality of schools in any location. Read more about Scout's School Data
There are no schools physically located in this neighborhood.
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Analytics built by: Location, Inc.
Raw data sources: U.S. Department of Education, 50 state departments of education, U.S. Bureau of Labor Statistics, Dow Jones S&P, Federal Bureau of Investigation, 18,000+ local law enforcement agencies, Federal Housing Finance Agency, U.S. Bureau of the Census, American Community Survey, U.S. Department of Housing and Urban Development, U.S. Geological Service, U.S. Department of Transportation, LEHD Origin-Destination Employment Statistics, Federal Highway Administration, National Agricultural Statistics.
Methodology: Scout Vision uniquely solves for investment risk by generating Home Price Appreciation projections with unprecedented geographic granularity and predictive accuracy, for every micro-neighborhood (block group) in the U.S. Read more
|Time Period||Total Appreciation||Avg. Annual Rate||
3 Year Forecast:
2021 Q3 - 2024 Q3
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
2000 Q1 - 2021 Q2
|* 10 is highest|