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Real Estate Prices & Overview

Monticello Park median real estate price is $1,101,669, which is more expensive than 96.6% of the neighborhoods in Virginia and 94.9% of the neighborhoods in the U.S.

The average rental price in Monticello Park is currently $2,459, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 60.4% of the neighborhoods in Virginia.

Monticello Park is an urban neighborhood (based on population density) located in Alexandria, Virginia.

Monticello Park 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 Monticello Park neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

In Monticello Park, 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 Monticello Park 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 Alexandria, the Monticello Park 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 Monticello Park 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.

People

Think about the people you know personally. How many of them would purchase box seats to opening night at the symphony? How many of them regularly attend gallery openings, or are the first to reserve tickets to opening night at the ballet? If they're like most of us, they don't do any of these things. But if you're among an exclusive crowd of wealthy and refined patrons of the arts, then you'll feel right at home in the Monticello Park neighborhood: a neighborhood in which more "urban sophisticates" live than 99.3% of neighborhoods across the U.S. Here, your neighbors are defined as having urbane tastes in literature, music, live theatre and the arts. They are wealthy, educated, travel in style, and live a big city lifestyle whether or not they live in or near a big city. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for highly educated executives.

In addition, some neighborhoods have residents that are more educated than others. But in this neighborhood there is a dramatic difference. NeighborhoodScout's exclusive analysis reveals that 46.1% of the adults here have earned a Masters degree, medical degree, Ph.D. or law degree. This is a higher rate of people with a graduate degree than is found in 98.6% of U.S. neighborhoods, where the average American neighborhood has 13.1% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.

Also, wealth makes most things in life easier, and a few things harder. If you are wealthy and enjoy keeping up with the Jones', this neighborhood will interest you. In fact, according to NeighborhoodScout's research, the Monticello Park neighborhood is wealthier than 97.8% of the neighborhoods in the United States. Residents here are truly in a unique situation even when compared to other Americans, based on the sheer amount of wealth concentrated here. Even in times of economic downturn, residents of this neighborhood, as a group, suffered less and recovered more quickly. This is indeed a stand-out characteristic of this neighborhood.

Finally, astoundingly, NeighborhoodScout's research reveals that this single neighborhood has a higher concentration of married couples living here than 95.5% of all U.S. neighborhoods. Whether they have school-aged children or not, married couples are the rule in the Monticello Park neighborhood. If you are a married couple, you may find many people here with a similar lifestyle, and perhaps common interests. But if you are single, you might not find many other singles here.

Occupations

With 4.2% of employed workers living in the Monticello Park neighborhood active in the military, this neighborhood has the distinction of having a higher proportion of people in the military than 98.5% of American neighborhoods. This is a major shaper of the neighborhood's culture and character.

Furthermore, the Monticello Park neighborhood has a greater proportion of government workers living in it than 96.6% of the neighborhoods in America, according to NeighborhoodScout's exclusive analysis. This is a unique feature of this neighborhood, and one that shapes its character.

In addition, executives, managers and professionals make up 68.4% of the workforce in the Monticello Park neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 95.1% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.

Modes of Transportation

A unique way of commuting is simply not to. And in the Monticello Park neighborhood, analysis shows that 23.7% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 95.6% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.

Diversity

Did you know that the Monticello Park neighborhood has more Greek and Arab ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.6% of this neighborhood's residents have Greek ancestry and 4.2% have Arab ancestry.

Monticello Park is also pretty special linguistically. Significantly, 4.8% of its residents five years old and above primarily speak Tagalog, which is the first language of the Philippine region, at home. While this may seem like a small percentage, it is higher than 97.8% 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 Monticello Park neighborhood in Alexandria are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 97.8% of the neighborhoods in America. In addition, 8.1% 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 56.2% of America'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 Monticello Park neighborhood, 68.4% 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 16.7% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (14.5%), and 12.8% in manufacturing and laborer 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 Monticello Park neighborhood is English, spoken by 70.5% of households. Other important languages spoken here include Spanish, Tagalog (the first language of the Philippine region) and Arabic.

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 Monticello Park neighborhood in Alexandria, VA, residents most commonly identify their ethnicity or ancestry as German (18.9%). There are also a number of people of Irish ancestry (16.3%), and residents who report English roots (14.5%), and some of the residents are also of Asian ancestry (12.2%), along with some Italian ancestry residents (7.1%), among others. In addition, 16.1% 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 Monticello Park neighborhood spend between 30 and 45 minutes commuting one-way to work (35.1% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (63.3%) 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 (5.7%) and 5.1% 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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