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Real Estate Prices & Overview

Old Town median real estate price is $1,186,776, which is more expensive than 97.9% of the neighborhoods in Virginia and 96.0% of the neighborhoods in the U.S.

The average rental price in Old Town is currently $1,868, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 65.8% of Virginia neighborhoods.

Old Town is a densely urban neighborhood (based on population density) located in Alexandria, Virginia.

Old Town real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) townhomes 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 Old Town neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built before 1940.

In Old Town, the current vacancy rate is 3.2%, which is a lower rate of vacancies than 80.1% of all neighborhoods in the U.S. This means that the housing supply in Old Town is very tight compared to the demand for property here.

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

Many people dream of living along a street lined with row houses or other attached homes. Such places do often have an abundance of charm. If you are one of these people, the Old Town neighborhood could be your paradise. With 75.0% of the homes and real estate here classified as rowhouses or other attached homes, this neighborhood brims with opportunity to find the right place for you. Only 0.3% of U.S. neighborhoods have more row houses than this neighborhood, making it one of the most interesting things about this special neighborhood.

Occupations

The Old Town neighborhood has a greater proportion of government workers living in it than 99.6% 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.

Furthermore, executives, managers and professionals make up 82.4% of the workforce in the Old Town neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 99.5% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.

In addition, the Old Town neighborhood stands out nationally for having a greater proportion of its residents active in the military than 97.5% of other U.S. neighborhoods. If you come here, you will notice military people active in their jobs, going to and from work, and in plain clothes out and about the neighborhood.

People

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 55.6% 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 99.6% 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.

In addition, 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 Old Town neighborhood: a neighborhood in which more "urban sophisticates" live than 99.4% 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 active retirees.

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 Old Town neighborhood is wealthier than 97.9% 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.

Modes of Transportation

A unique way of commuting is simply not to. And in the Old Town neighborhood, analysis shows that 25.4% 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 96.8% 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 Old Town neighborhood has more Eastern European and Belgian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.7% of this neighborhood's residents have Eastern European ancestry and 1.1% have Belgian ancestry.

Old Town is also pretty special linguistically. Significantly, 3.0% of its residents five years old and above primarily speak Greek at home. While this may seem like a small percentage, it is higher than 99.7% 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 Old Town 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 97.9% of the neighborhoods in America. With 40.8% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 89.1% of U.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 Old Town neighborhood, 82.4% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is government jobs, whether they are in local, state, or federal positions, with 26.0% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (7.3%), and 5.4% 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 Old Town neighborhood is English, spoken by 82.3% of households. Other important languages spoken here include Italian, Spanish and Greek.

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 Old Town neighborhood in Alexandria, VA, residents most commonly identify their ethnicity or ancestry as Irish (16.9%). There are also a number of people of German ancestry (12.7%), and residents who report English roots (11.1%), and some of the residents are also of Sub-Saharan African ancestry (9.1%), along with some Italian ancestry residents (6.9%), among others. In addition, 10.6% 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 Old Town neighborhood spend between 30 and 45 minutes commuting one-way to work (44.7% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (49.3%) 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 (10.9%) and 6.4% of residents also take the train 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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