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Real Estate Prices & Overview

Larchmont median real estate price is $556,952, which is more expensive than 69.6% of the neighborhoods in Virginia and 74.1% of the neighborhoods in the U.S.

The average rental price in Larchmont is currently $2,699, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 72.5% of the neighborhoods in Virginia.

Larchmont is an urban neighborhood (based on population density) located in Norfolk, Virginia.

Larchmont real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Larchmont neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1940 and 1969.

Home and apartment vacancy rates are 6.0% in Larchmont. NeighborhoodScout analysis shows that this rate is lower than 59.7% 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.

Occupations

With 5.8% of employed workers living in the Larchmont neighborhood active in the military, this neighborhood has the distinction of having a higher proportion of people in the military than 98.9% of American neighborhoods. This is a major shaper of the neighborhood's culture and character.

People

If knowledge is power, then imagine the cumulative power of one neighborhood where many of the adults have earned an advanced degree, such as a Masters, law degree, medical degree, or even a Ph.D. This is certainly the case in the Larchmont neighborhood, where 44.6% have earned an advanced degree. Compare that to the average neighborhood in America, where just 13.4% of adults have completed a post-graduate degree, and you can see why this neighborhood is a stand out. In fact, this neighborhood has a higher rate of adults with an advanced degree than 98.3% of the neighborhoods in America.

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 Larchmont neighborhood: a neighborhood in which more "urban sophisticates" live than 97.3% 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.

Also, with more than 1.6% of residents living with a same sex partner, Larchmont is truly a neighborhood that stands out from the rest in this regard. In fact, exclusive analysis by NeighborhoodScout reveals that this neighborhood has a greater concentration of same sex couples than 95.0% of U.S. neighborhoods.

Modes of Transportation

If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 3.5% of residents in the Larchmont neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 96.7% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.

Diversity

Did you know that the Larchmont neighborhood has more English and Eastern European ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 27.0% of this neighborhood's residents have English ancestry and 2.0% have Eastern European ancestry.

Larchmont is also pretty special linguistically. Significantly, 2.5% of its residents five years old and above primarily speak Persian at home. While this may seem like a small percentage, it is higher than 99.4% 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 Larchmont neighborhood in Norfolk are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 84.9% of the neighborhoods in America. In addition, 5.2% 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 64.0% 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 Larchmont neighborhood, 67.7% 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 23.4% of the residents employed. Other residents here are employed in the military (5.8%), and 5.0% in clerical, assistant, and tech support 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 Larchmont neighborhood is English, spoken by 84.5% of households. Other important languages spoken here include Spanish and Persian.

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 Larchmont neighborhood in Norfolk, VA, residents most commonly identify their ethnicity or ancestry as English (27.0%). There are also a number of people of German ancestry (15.7%), and residents who report Irish roots (12.1%), and some of the residents are also of Italian ancestry (5.5%), along with some French ancestry residents (5.2%), among others. In addition, 11.3% of the residents of this neighborhood were born in another country.

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 Larchmont neighborhood spend between 15 and 30 minutes commuting one-way to work (48.6% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (63.9%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (6.8%) and 5.5% of residents also carpool with coworkers, friends, or neighbors 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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