Park Place median real estate price is $184,429, which is less expensive than 68.7% of Virginia neighborhoods and 51.0% of all U.S. neighborhoods.
The average rental price in Park Place is currently $883, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 79.7% of Virginia neighborhoods.
Park Place is an urban neighborhood (based on population density) located in Norfolk, Virginia.
Park Place real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Park Place 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.
Vacant apartments or homes are a major fact of life in Park Place. The current real estate vacancy rate here is 22.6%. This is higher than the rate of vacancies in 88.6% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.