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Real Estate Prices & Overview

Forest Plaza / Kensington Forest median real estate price is $257,278, which is more expensive than 41.4% of the neighborhoods in Tennessee and 34.1% of the neighborhoods in the U.S.

The average rental price in Forest Plaza / Kensington Forest is currently $1,812, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 42.6% of Tennessee neighborhoods.

Forest Plaza / Kensington Forest is a suburban neighborhood (based on population density) located in Chattanooga, Tennessee.

Forest Plaza / Kensington Forest real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and small apartment buildings. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Forest Plaza / Kensington Forest neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

In Forest Plaza / Kensington Forest, 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 Forest Plaza / Kensington Forest is very tight compared to the demand for property here.

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 Chattanooga, the Forest Plaza / Kensington Forest neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

With a real estate vacancy rate of only 0.0%, the Forest Plaza / Kensington Forest neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.

Diversity

Did you know that the Forest Plaza / Kensington Forest neighborhood has more Scottish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 7.0% of this neighborhood's residents have Scottish ancestry.

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 Forest Plaza / Kensington Forest neighborhood in Chattanooga are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 75.0% of U.S. neighborhoods. In addition, 9.1% 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 52.9% of America'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 Forest Plaza / Kensington Forest neighborhood, 55.4% 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 24.0% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (11.7%), and 8.8% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Forest Plaza / Kensington Forest neighborhood is English, spoken by 91.9% of households. Some people also speak Spanish (6.4%).

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 Forest Plaza / Kensington Forest neighborhood in Chattanooga, TN, residents most commonly identify their ethnicity or ancestry as Irish (15.7%). There are also a number of people of English ancestry (10.9%), and residents who report Scottish roots (7.0%), and some of the residents are also of German ancestry (5.0%), along with some Asian ancestry residents (3.1%), 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 Forest Plaza / Kensington Forest neighborhood spend between 15 and 30 minutes commuting one-way to work (62.8% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (76.5%) 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 (15.6%) . 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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