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Real Estate Prices & Overview

Chestnut median real estate price is $682,422, which is more expensive than 92.0% of the neighborhoods in Texas and 78.4% of the neighborhoods in the U.S.

The average rental price in Chestnut is currently $2,378, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 79.0% of the neighborhoods in Texas.

Chestnut is an urban neighborhood (based on population density) located in Austin, Texas.

Chestnut real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Chestnut neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.

Real estate vacancies in Chestnut are 4.1%, which is lower than one will find in 71.7% of American neighborhoods. Demand for real estate in Chestnut 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

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.

People

Of note is NeighborhoodScout's research finding that the Chestnut neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Chestnut community truly stands out from the rest in this regard.

In addition, chestnut has the amazing distinction of housing more same sex couples living together than 97.5% of neighborhoods in the U.S. If you are seeking such a neighborhood, NeighborhoodScout's analysis shows that this is one place that you should consider.

Also, 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 76.0% of the adults living in the Chestnut neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 96.3% of U.S. neighborhoods. In this way, this neighborhood truly stands out.

Modes of Transportation

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 Chestnut neighborhood is a fantastic option for bicycle commuters, as 5.2% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 98.4% of the neighborhoods in America.

Also, in the Chestnut neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 30.7% 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 95.1% 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.

Occupations

Executives, managers and professionals make up 75.3% of the workforce in the Chestnut neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 97.6% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.

Diversity

Did you know that the Chestnut neighborhood has more British and Scottish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.6% of this neighborhood's residents have British ancestry and 5.4% have Scottish ancestry.

Chestnut is also pretty special linguistically. Significantly, 1.8% of its residents five years old and above primarily speak German/Yiddish at home. While this may seem like a small percentage, it is higher than 95.8% 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 Chestnut neighborhood in Austin are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 59.7% 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 Chestnut neighborhood, 75.3% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 9.7% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (8.1%), and 6.8% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

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 Chestnut neighborhood is English, spoken by 84.5% of households. Other important languages spoken here include Spanish and Italian.

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 Chestnut neighborhood in Austin, TX, residents most commonly identify their ethnicity or ancestry as German (15.7%). There are also a number of people of English ancestry (12.9%), and residents who report Irish roots (10.6%), and some of the residents are also of Mexican ancestry (7.7%), along with some Scottish ancestry residents (5.4%), among others. In addition, 10.7% 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 Chestnut 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 (54.6%) 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 (5.4%) and 5.2% of residents also bicycle for their daily commute. 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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