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Real Estate Prices & Overview

Larchmont median real estate price is $512,465, which is more expensive than 69.0% of the neighborhoods in Virginia and 73.1% of the neighborhoods in the U.S.

The average rental price in Larchmont is currently $2,598, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 67.0% 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.

Real estate vacancies in Larchmont are 5.8%, which is lower than one will find in 62.8% of American neighborhoods. Demand for real estate in Larchmont 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

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.

Occupations

The Larchmont neighborhood stands out nationally for having a greater proportion of its residents active in the military than 98.9% 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.

Furthermore, executives, managers and professionals make up 71.9% of the workforce in the Larchmont neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 96.9% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.

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 47.3% 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 98.8% 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, if you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the Larchmont neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 96.0% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the Larchmont neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for highly educated executives and college students.

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 3.2% of residents in the Larchmont neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 96.0% 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 Arab ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 23.1% of this neighborhood's residents have English ancestry and 4.7% have Arab 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 wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 85.1% of the neighborhoods in America. With 10.9% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 50.6% of U.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 Larchmont neighborhood, 71.9% 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 20.1% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (7.0%), and 5.7% in the military.

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 83.2% of households. Other important languages spoken here include Arabic, Spanish and Persian.

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Larchmont neighborhood in Norfolk, VA, residents most commonly identify their ethnicity or ancestry as English (23.1%). There are also a number of people of German ancestry (18.3%), and residents who report Irish roots (11.1%), and some of the residents are also of French ancestry (5.6%), along with some Italian ancestry residents (5.6%), among others. In addition, 15.2% 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 (49.8% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (63.6%) 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 (8.5%) and 7.8% 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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