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Real Estate Prices & Overview

Belfair / Belmont Acres median real estate price is $341,827, which is more expensive than 40.1% of the neighborhoods in Virginia and 49.5% of the neighborhoods in the U.S.

The average rental price in Belfair / Belmont Acres is currently $2,250, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 47.3% of Virginia neighborhoods.

Belfair / Belmont Acres is an urban neighborhood (based on population density) located in Richmond, Virginia.

Belfair / Belmont Acres real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Belfair / Belmont Acres 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.

Home and apartment vacancy rates are 9.4% in Belfair / Belmont Acres. NeighborhoodScout analysis shows that this rate is lower than 40.9% of the neighborhoods in the nation, approximately near the middle range for vacancies.

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.

People

Whether by choice, divorce, or unplanned pregnancy, single moms may have the toughest job in the book. NeighborhoodScout's exclusive analysis reveals that the Belfair / Belmont Acres neighborhood has more single mother households than 98.7% of the neighborhoods in the U.S. Often high concentrations of single mother homes can be a strong indicator of family and social issues such as poverty, high rates of school dropouts, crime, and other societal problems.

In addition, belfair / Belmont Acres is ranked among the top 7.6% of neighborhoods for first-time home buyers to consider in the state of Virginia according to NeighborhoodScout's exclusive analysis. Homes here are priced below median housing values in the state, yet maintain moderate appreciation rates compared to other communities. Buying into the Belfair / Belmont Acres neighborhood is not only an accessible option but an investment opportunity for many first-time home buyers.

The Neighbors

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 Belfair / Belmont Acres neighborhood in Richmond are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 73.3% of U.S. neighborhoods. With 29.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 80.2% of U.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 Belfair / Belmont Acres neighborhood, 31.9% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 26.3% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (23.5%), and 18.3% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

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 Belfair / Belmont Acres neighborhood is English, spoken by 78.6% of households. Other important languages spoken here include Spanish and Italian.

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 Belfair / Belmont Acres neighborhood in Richmond, VA, residents most commonly identify their ethnicity or ancestry as Mexican (10.1%). There are also a number of people of English ancestry (5.5%), and residents who report Sub-Saharan African roots (5.4%), and some of the residents are also of Puerto Rican ancestry (4.2%), along with some Irish ancestry residents (4.1%), among others. In addition, 12.3% of the residents of this neighborhood were born in another country.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Belfair / Belmont Acres neighborhood spend between 15 and 30 minutes commuting one-way to work (66.9% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (81.4%) 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.


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Race & Ethnic Diversity
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Crime includes:
Neighborhood Crime Index
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Property Crime Comparison
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Schools include:
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