Albemarle Farms / Waterway Estates median real estate price is $588,584, which is more expensive than 79.1% of the neighborhoods in Virginia and 80.6% of the neighborhoods in the U.S.
The average rental price in Albemarle Farms / Waterway Estates is currently $4,093, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 96.6% of the neighborhoods in Virginia.
Albemarle Farms / Waterway Estates is a suburban neighborhood (based on population density) located in Chesapeake, Virginia.
Albemarle Farms / Waterway Estates real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Albemarle Farms / Waterway Estates 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.
In Albemarle Farms / Waterway Estates, 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 Albemarle Farms / Waterway Estates is very tight compared to the demand for property here.
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 Chesapeake, the Albemarle Farms / Waterway Estates neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Real Estate
This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the Albemarle Farms / Waterway Estates neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.
In addition, one way that the Albemarle Farms / Waterway Estates neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 97.6% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.
People
In a nation where 1 out of every 4 children lives in poverty, the Albemarle Farms / Waterway Estates neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.
In addition, astoundingly, NeighborhoodScout's research reveals that this single neighborhood has a higher concentration of married couples living here than 98.5% of all U.S. neighborhoods. Whether they have school-aged children or not, married couples are the rule in the Albemarle Farms / Waterway Estates 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.
Also, the Albemarle Farms / Waterway Estates neighborhood is a great option for families, as revealed by NeighborhoodScout's research on this neighborhood. The combination of top public schools, low crime rates, and owner-occupied single family homes, make this neighborhood among the top 6.0% of family-friendly neighborhoods in the state of Virginia. Many other families also live here, making it easy to socialize and develop a sense of community. In addition, families here highly value education, as is reflected by the strength of the local schools. In addition to being an excellent choice for families with school-aged children, this neighborhood is also a very good choice for highly educated executives and urban sophisticates.
Modes of Transportation
While most Americans do drive to work alone each day, the Albemarle Farms / Waterway Estates neighborhood stands out by having 93.3% of commuters doing so, which is a higher proportion of people driving alone to work than NeighborhoodScout found in 98.5% of all American neighborhoods.
Occupations
The government often provides some of the more stable jobs in the economy. From local, to state, to federal government workers, the government can also be a major employer. What NeighborhoodScout's analysis revealed, is that the Albemarle Farms / Waterway Estates neighborhood in particular stands out when compared nationally for the proportion of its working residents who are employed by the government. At 15.8% of its workforce, this neighborhood has a greater concentration of government workers than 97.5% of U.S. neighborhoods.
Furthermore, with 1.6% of employed workers living in the Albemarle Farms / Waterway Estates neighborhood active in the military, this neighborhood has the distinction of having a higher proportion of people in the military than 95.8% of American neighborhoods. This is a major shaper of the neighborhood's culture and character.
Diversity
Did you know that the Albemarle Farms / Waterway Estates neighborhood has more Hungarian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.7% of this neighborhood's residents have Hungarian ancestry.
Albemarle Farms / Waterway Estates is also pretty special linguistically. Significantly, 3.3% 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 96.2% of the neighborhoods in America.
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 Albemarle Farms / Waterway Estates neighborhood in Chesapeake 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 94.6% 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.
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 Albemarle Farms / Waterway Estates neighborhood, 58.3% 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 21.0% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (15.8%), and 15.1% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the Albemarle Farms / Waterway Estates neighborhood is English, spoken by 90.6% of households. Some people also speak Tagalog (the first language of the Philippine region) (3.3%).
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 Albemarle Farms / Waterway Estates neighborhood in Chesapeake, VA, residents most commonly identify their ethnicity or ancestry as Irish (14.2%). There are also a number of people of English ancestry (13.8%), and residents who report German roots (8.2%), and some of the residents are also of Asian ancestry (6.0%), along with some Sub-Saharan African ancestry residents (5.2%), among others.
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 Albemarle Farms / Waterway Estates neighborhood spend between 30 and 45 minutes commuting one-way to work (43.1% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (93.3%) 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.
