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Real Estate Prices & Overview

Rittenhouse Square North median real estate price is $815,446, which is more expensive than 97.7% of the neighborhoods in Pennsylvania and 88.9% of the neighborhoods in the U.S.

The average rental price in Rittenhouse Square North is currently $2,156, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 73.0% of the neighborhoods in Pennsylvania.

Rittenhouse Square North is a densely urban neighborhood (based on population density) located in Philadelphia, Pennsylvania.

Rittenhouse Square North 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 single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Rittenhouse Square North 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 1940 and 1969.

Rittenhouse Square North has a 15.3% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 77.4% 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 Philadelphia, the Rittenhouse Square North 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 Rittenhouse Square North neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

In addition, one of the most interesting things about the Rittenhouse Square North neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 70.0% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 99.7% of the neighborhoods in America.

Also, the rate of college educated adults in the Rittenhouse Square North neighborhood is a unique characteristic of the neighborhood. 81.9% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 33.7% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 98.4% of all U.S. neighborhoods.

Real Estate

One of the really unique and interesting things about the look and setting of the Rittenhouse Square North neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 97.5% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 99.5% of all neighborhoods in America.

In addition, the Rittenhouse Square North 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 93.1% 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 Rittenhouse Square North neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 37,302 persons per square mile in the neighborhood, it is more packed with people than 97.7% of the nation's neighborhoods. Even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The Rittenhouse Square North neighborhood is among the top 5% of American neighborhoods in terms of walkability.

Occupations

Executives, managers and professionals make up 80.5% of the workforce in the Rittenhouse Square North neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 99.2% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.

Modes of Transportation

In the Rittenhouse Square North 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 28.0% of residents here. This is a higher proportion of walking commuters than we found in 98.9% of American neighborhoods. Get ready to put on your walking shoes if you move here!

Also, in the Rittenhouse Square North neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 26.4% 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 97.3% 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.

Finally, 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 Rittenhouse Square North neighborhood is a fantastic option for bicycle commuters, as 3.4% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 96.4% of the neighborhoods in America.

Car Ownership

We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the Rittenhouse Square North neighborhood has a highly unusual pattern of car ownership. 51.2% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.8% of U.S. neighborhoods.

Diversity

Did you know that the Rittenhouse Square North neighborhood has more Austrian and Armenian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.6% of this neighborhood's residents have Austrian ancestry and 1.1% have Armenian ancestry.

Rittenhouse Square North is also pretty special linguistically. Significantly, 5.3% of its residents five years old and above primarily speak Langs. of India at home. While this may seem like a small percentage, it is higher than 97.5% 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 Rittenhouse Square North neighborhood in Philadelphia are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 51.4% 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 Rittenhouse Square North neighborhood, 80.5% 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 12.4% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (4.3%), and 3.1% in government jobs, whether they are in local, state, or federal positions.

Languages

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 Rittenhouse Square North neighborhood is English, spoken by 66.8% of households. Other important languages spoken here include Langs. of India, Chinese, Spanish and Korean.

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 Rittenhouse Square North neighborhood in Philadelphia, PA, residents most commonly identify their ethnicity or ancestry as Asian (18.5%). There are also a number of people of German ancestry (14.5%), and residents who report Irish roots (12.3%), and some of the residents are also of English ancestry (8.4%), along with some Italian ancestry residents (8.3%), among others. In addition, 32.2% 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 Rittenhouse Square North neighborhood spend between 15 and 30 minutes commuting one-way to work (40.4% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (28.0%) 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 (24.2%) and 10.1% of residents also take the train 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.


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