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Real Estate Prices & Overview

Addison Southwest median real estate price is $596,389, which is more expensive than 90.3% of the neighborhoods in Texas and 77.1% of the neighborhoods in the U.S.

The average rental price in Addison Southwest is currently $2,550, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 85.6% of the neighborhoods in Texas.

Addison Southwest is a suburban neighborhood (based on population density) located in Addison, Texas.

Addison Southwest 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 occupied by a mixture of owners and renters. Many of the residences in the Addison Southwest neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.

Addison Southwest has a 10.6% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 64.2% 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

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.

Real Estate

Most neighborhoods are composed of a mixture of ages of homes, but the Addison Southwest stands out as rather unique in having nearly all of its residential real estate built in one time period, namely between 1970 and 1999, generally considered to be established, but not old housing. What you'll sense when you look around or drive the streets of this neighborhood is that many of the residences look the same because of this similarity of age. In fact, 86.8% of the residential real estate here was built in this one time period.

People

If you're planning where to retire, the Addison Southwest neighborhood in Addison is a great option to consider. According to NeighborhoodScout's exclusive retirement dream area analysis, it's peaceful and quiet, has above average safety ratings compared to other neighborhoods in TX, offers a wide range of housing options, and has already attracted an enviable mix of college educated seniors. This neighborhood ranks as better for retirement living than 87.2% of the neighborhoods in Texas. If you are considering retiring to Texas, this is a good neighborhood to look at.

Diversity

Significantly, 2.6% of its residents five years old and above primarily speak African languages at home. While this may seem like a small percentage, it is higher than 96.5% 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 Addison Southwest neighborhood in Addison are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 60.7% of the neighborhoods in America. With 27.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 78.2% of U.S. neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Addison Southwest neighborhood, 45.6% 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 25.9% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (15.6%), and 12.9% in clerical, assistant, and tech support occupations.

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 Addison Southwest neighborhood is English, spoken by 65.7% of households. Other important languages spoken here include Spanish and African languages.

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Addison Southwest neighborhood in Addison, TX, residents most commonly identify their ethnicity or ancestry as Mexican (18.8%). There are also a number of people of English ancestry (13.2%), and residents who report Italian roots (7.3%), and some of the residents are also of German ancestry (7.1%), along with some Irish ancestry residents (5.9%), among others. In addition, 21.9% of the residents of this neighborhood were born in another country.

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 Addison Southwest neighborhood spend under 15 minutes commuting one-way to work (35.7% of working residents), one of the shortest commutes across America.

Here most residents (73.3%) drive alone in a private automobile to get to work. 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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