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Real Estate Prices & Overview

Hood / Pratts median real estate price is $430,065, which is more expensive than 52.9% of the neighborhoods in Virginia and 59.6% of the neighborhoods in the U.S.

The average rental price in Hood / Pratts is currently $1,295, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 89.6% of Virginia neighborhoods.

Hood / Pratts is a remote neighborhood (based on population density) located in Madison, Virginia.

Hood / Pratts real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and mobile homes. Most of the residential real estate is owner occupied. Many of the residences in the Hood / Pratts neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Real estate vacancies in Hood / Pratts are 5.6%, which is lower than one will find in 62.5% of American neighborhoods. Demand for real estate in Hood / Pratts 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

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 Madison, the Hood / Pratts neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Occupations

Each year, fewer and fewer Americans make their living as farmers, foresters, or fishers. But the Hood / Pratts neighborhood truly stands out among U.S. neighborhoods. According to exclusive NeighborhoodScout analysis, this neighborhood has a greater proportion of farmers, foresters, or fishers than 97.8% of all American neighborhoods. This is truly a unique cultural characteristic of this neighborhood.

Car Ownership

Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the Hood / Pratts neighborhood have a highly unusual car ownership. Residents of this neighborhood must really love automobiles. NeighborhoodScout's Analysis reveals that 37.1% of the households here have four, five, or more cars. That is more cars per household than in 97.1% of the neighborhoods in the nation.

People

If you are planning to retire in Virginia, this neighborhood should be on your must-see list. For many reasons, Hood / Pratts may be considered a retiree's dream neighborhood. According to NeighborhoodScout's exclusive analysis and metrics, it's peaceful and quiet, has above average safety from crime compared to other neighborhoods in Virginia, while also offering a diverse range of housing options. This, along with the vibrant mix of very educated seniors and other age groups who choose to live here, makes the neighborhood more retiree-friendly than 95.8% of neighborhoods in VA. If a Virginia retirement is in your future, this neighborhood should be one of the places you visit.

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 Hood / Pratts neighborhood in Madison are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 75.6% of U.S. neighborhoods. In addition, 8.0% 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 55.8% 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 Hood / Pratts neighborhood, 39.9% 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 23.6% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (17.7%), and 12.4% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Hood / Pratts neighborhood is English, spoken by 95.3% of households.

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 Hood / Pratts neighborhood in Madison, VA, residents most commonly identify their ethnicity or ancestry as German (19.6%). There are also a number of people of English ancestry (13.6%), and residents who report Irish roots (10.7%), and some of the residents are also of Italian ancestry (4.3%), along with some Scots-Irish ancestry residents (1.9%), among others.

Getting to Work

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 Hood / Pratts neighborhood spend under 15 minutes commuting one-way to work (40.3% of working residents), one of the shortest commutes across America.

Here most residents (74.3%) 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 (7.9%) . 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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