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Real Estate Prices & Overview

Penfield median real estate price is $588,041, which is more expensive than 90.9% of the neighborhoods in Pennsylvania and 75.8% of the neighborhoods in the U.S.

The average rental price in Penfield is currently $3,339, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 95.3% of the neighborhoods in Pennsylvania.

Penfield is an urban neighborhood (based on population density) located in Havertown, Pennsylvania.

Penfield real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Penfield neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

In Penfield, the current vacancy rate is 1.8%, which is a lower rate of vacancies than 88.0% of all neighborhoods in the U.S. This means that the housing supply in Penfield is very tight compared to the demand for property here.

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.

People

Think about the people you know personally. How many of them would purchase box seats to opening night at the symphony? How many of them regularly attend gallery openings, or are the first to reserve tickets to opening night at the ballet? If they're like most of us, they don't do any of these things. But if you're among an exclusive crowd of wealthy and refined patrons of the arts, then you'll feel right at home in the Penfield neighborhood: a neighborhood in which more "urban sophisticates" live than 99.8% of neighborhoods across the U.S. Here, your neighbors are defined as having urbane tastes in literature, music, live theatre and the arts. They are wealthy, educated, travel in style, and live a big city lifestyle whether or not they live in or near a big city. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for families with school-aged children and highly educated executives.

In addition, the rate of college educated adults in the Penfield neighborhood is a unique characteristic of the neighborhood. 80.4% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 34.3% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 97.9% of all U.S. neighborhoods.

Also, wealth makes most things in life easier, and a few things harder. If you are wealthy and enjoy keeping up with the Jones', this neighborhood will interest you. In fact, according to NeighborhoodScout's research, the Penfield neighborhood is wealthier than 96.0% of the neighborhoods in the United States. Residents here are truly in a unique situation even when compared to other Americans, based on the sheer amount of wealth concentrated here. Even in times of economic downturn, residents of this neighborhood, as a group, suffered less and recovered more quickly. This is indeed a stand-out characteristic of this neighborhood.

Real Estate

Owner-occupied real estate dominates the Penfield neighborhood. In fact, according to NeighborhoodScout research, the percentage of residential real estate occupied by its owner is higher here than in 97.1% of neighborhoods in America.

Diversity

Did you know that the Penfield neighborhood has more Irish and Italian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 30.8% of this neighborhood's residents have Irish ancestry and 26.1% have Italian ancestry.

Penfield is also pretty special linguistically. Significantly, 1.0% of its residents five years old and above primarily speak Persian at home. While this may seem like a small percentage, it is higher than 97.6% of the neighborhoods in America.

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 Penfield neighborhood in Havertown are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 96.0% of the neighborhoods in America. In addition, 4.9% 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 64.8% 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 Penfield neighborhood, 66.5% 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 22.0% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (8.1%), and 3.6% in government jobs, whether they are in local, state, or federal positions.

Languages

The most common language spoken in the Penfield neighborhood is English, spoken by 93.4% of households. Some people also speak German/Yiddish (2.1%).

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 Penfield neighborhood in Havertown, PA, residents most commonly identify their ethnicity or ancestry as Irish (30.8%). There are also a number of people of Italian ancestry (26.1%), and residents who report German roots (19.8%), and some of the residents are also of English ancestry (9.2%), along with some Polish ancestry residents (5.2%), among others.

Getting to Work

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 Penfield neighborhood spend between 15 and 30 minutes commuting one-way to work (30.4% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (63.1%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (8.0%) and 7.2% 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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