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Real Estate Prices & Overview

Rittenhouse Square South median real estate price is $2,125,533, which is more expensive than 97.9% of the neighborhoods in Pennsylvania and 92.2% of the neighborhoods in the U.S.

The average rental price in Rittenhouse Square South is currently $2,942, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 91.9% of the neighborhoods in Pennsylvania.

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

Rittenhouse Square South 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 townhomes. Most of the residential real estate is renter occupied. Many of the residences in the Rittenhouse Square South 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.

In Rittenhouse Square South, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Rittenhouse Square South 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.

Real Estate

This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the Rittenhouse Square South neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.

In addition, the Rittenhouse Square South neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 46,204 persons per square mile in the neighborhood, it is more packed with people than 98.3% of the nation's neighborhoods. Being a walkable neighborhood can help increase property values for the simple reason that people enjoy it and value it. To put it plainly, despite our love affair with the automobile, American's enjoy taking to the streets, sidewalks, paths, and courtyards of a place to get a coffee, relax, and take in the sights and sounds. And, according to NeighborhoodScout's exclusive and first quantitative walkable score index, the Rittenhouse Square South neighborhood is one of the most walkable neighborhoods in America.

Furthermore, if you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 63.3% of the residential real estate in the Rittenhouse Square South neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 97.3% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

People

Do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 89.3% of the adults living in the Rittenhouse Square South neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 99.6% of U.S. neighborhoods. In this way, this neighborhood truly stands out.

In addition, the first thing that you'll notice if you moved to this neighborhood is that an astounding 3.0% of the households are same sex couples. According to NeighborhoodScout's analysis, this is a higher proportion of same sex households than in 99.1% of the neighborhoods in America. This is one indicator that this neighborhood is likely a gay-friendly neighborhood. So if you are looking for such a neighborhood, the Rittenhouse Square South neighborhood should definitely be on your list of places to consider.

Also, 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 Rittenhouse Square South neighborhood: a neighborhood in which more "urban sophisticates" live than 97.9% 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 young, single professionals.

Occupations

Executives, managers and professionals make up 81.8% of the workforce in the Rittenhouse Square South neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 99.4% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.

Modes of Transportation

More people in Rittenhouse Square South choose to walk to work each day (29.3%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.

Also, in the Rittenhouse Square South neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 32.7% 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 98.1% 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, if your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 3.0% of residents in the Rittenhouse Square South neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 95.8% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.

Car Ownership

American households most often have a car, and regularly they have two or three. But households in the Rittenhouse Square South neighborhood buck this trend. 40.0% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.1% of U.S. neighborhoods.

Diversity

Did you know that the Rittenhouse Square South neighborhood has more Austrian and Russian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.1% of this neighborhood's residents have Austrian ancestry and 11.6% have Russian ancestry.

Rittenhouse Square South is also pretty special linguistically. Significantly, 0.6% of its residents five years old and above primarily speak Urdu, which is the national language of Pakistan, at home. While this may seem like a small percentage, it is higher than 95.5% 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 Rittenhouse Square South neighborhood in Philadelphia are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 79.3% of the neighborhoods in America. With 12.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 54.5% 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 Rittenhouse Square South neighborhood, 81.8% 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 11.0% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (6.0%).

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 South neighborhood is English, spoken by 93.3% of households. Other important languages spoken here include Spanish and Langs. of India.

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 South neighborhood in Philadelphia, PA, residents most commonly identify their ethnicity or ancestry as Irish (20.7%). There are also a number of people of German ancestry (19.7%), and residents who report Italian roots (15.7%), and some of the residents are also of Polish ancestry (12.2%), along with some Russian ancestry residents (11.6%), among others.

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 South neighborhood spend between 15 and 30 minutes commuting one-way to work (52.6% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (29.3%) 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 (18.3%) and 11.6% of residents also ride the bus 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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