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Real Estate Prices & Overview

Solway median real estate price is $573,406, which is more expensive than 89.9% of the neighborhoods in Tennessee and 74.7% of the neighborhoods in the U.S.

The average rental price in Solway is currently $2,820, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 90.5% of the neighborhoods in Tennessee.

Solway is a rural neighborhood (based on population density) located in Knoxville, Tennessee.

Solway real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Solway neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

Real estate vacancies in Solway are 5.6%, which is lower than one will find in 62.7% of American neighborhoods. Demand for real estate in Solway is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

Notable & Unique Neighborhood Characteristics

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

People

One of the really interesting characteristics about the Solway 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 Tennessee. In addition to being an excellent choice for college students, this neighborhood is also a very good choice for highly educated executives.

Real Estate

Homes built from 2000 through today make up a higher proportion of the Solway neighborhood's real estate landscape than 95.0% of the neighborhoods in America. When you are driving around this neighborhood, you'll notice right away that it is one of the newest built of any, with the smell of fresh paint, and the look of young landscaping nearly everywhere you look. In fact, 65.8% of the residential real estate here is classified as newer.

Diversity

Did you know that the Solway neighborhood has more Finnish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.0% of this neighborhood's residents have Finnish 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 Solway neighborhood in Knoxville are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 79.7% of the neighborhoods in America. In addition, 1.2% 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 77.9% 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 Solway neighborhood, 63.0% 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 17.2% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (11.3%), and 7.8% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Solway neighborhood is English, spoken by 92.8% of households.

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 Solway neighborhood in Knoxville, TN, residents most commonly identify their ethnicity or ancestry as German (12.5%). There are also a number of people of Irish ancestry (12.0%), and residents who report English roots (11.2%), and some of the residents are also of Asian ancestry (9.1%), along with some Scottish ancestry residents (3.9%), 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 Solway neighborhood spend between 15 and 30 minutes commuting one-way to work (51.4% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (75.4%) 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 (7.4%) . 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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