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Real Estate Prices & Overview

Riverside median real estate price is $372,037, which is more expensive than 72.4% of the neighborhoods in Texas and 57.3% of the neighborhoods in the U.S.

The average rental price in Riverside is currently $1,967, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 47.7% of Texas neighborhoods.

Riverside is a densely urban neighborhood (based on population density) located in Austin, Texas.

Riverside 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 small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Riverside neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Home and apartment vacancy rates are 6.9% in Riverside. NeighborhoodScout analysis shows that this rate is lower than 56.0% of the neighborhoods in the nation, approximately near the middle range for vacancies.

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

Renter-occupied real estate is dominant in the Riverside neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 99.5%, which is higher than 99.2% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.

In addition, the Riverside neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 93.0% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.

Furthermore, the real estate in the Riverside neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 83.9% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 97.3% of American neighborhoods.

Also of note, most neighborhoods are composed of a mixture of ages of homes, but the Riverside 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, 80.4% of the residential real estate here was built in this one time period.

People

The types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 51.3%. This is a higher percent living alone than we found in 96.4% of all U.S. neighborhoods. Often residents who live alone are new arrivals to an area who are single, and often senior citizens who have lost a spouse.

Occupations

From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the Riverside neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 95.3% of all American neighborhoods.

Diversity

Significantly, 1.1% of its residents five years old and above primarily speak Native American languages at home. While this may seem like a small percentage, it is higher than 97.9% of the neighborhoods in America.

Migration / Stability

The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. In the Riverside neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 97.6% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

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 Riverside neighborhood in Austin are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 87.9% of U.S. neighborhoods. With 44.8% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 91.4% 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 Riverside neighborhood, 38.9% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 32.9% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (17.8%), and 10.4% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Riverside neighborhood is English, spoken by 56.9% of households. Some people also speak Spanish (31.1%).

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 Riverside neighborhood in Austin, TX, residents most commonly identify their ethnicity or ancestry as Mexican (36.9%). There are also a number of people of Irish ancestry (8.9%), and residents who report German roots (8.7%), and some of the residents are also of Spanish ancestry (5.9%), along with some Italian ancestry residents (4.3%), among others. In addition, 29.9% 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 Riverside neighborhood spend between 15 and 30 minutes commuting one-way to work (45.5% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (57.4%) 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 (18.5%) and 10.1% of residents also ride the bus 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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