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Real Estate Prices & Overview

Manchester median real estate price is $382,953, which is more expensive than 46.7% of the neighborhoods in Virginia and 55.0% of the neighborhoods in the U.S.

The average rental price in Manchester is currently $1,846, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 65.3% of Virginia neighborhoods.

Manchester is a suburban neighborhood (based on population density) located in Richmond, Virginia.

Manchester real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Manchester 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 Manchester. NeighborhoodScout analysis shows that this rate is lower than 41.2% of the neighborhoods in the nation, approximately near the middle range for vacancies.

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 Richmond, the Manchester neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

The types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 53.2%. This is a higher percent living alone than we found in 97.1% of all U.S. neighborhoods. Often residents who live alone are new arrivals to an area who are single, and often senior citizens who have lost a spouse.

In addition, for many reasons, Manchester is rated by NeighborhoodScout as one of the top 4.2% of ideal neighborhoods for first-time home buyers in the state of Virginia. Homes here are priced below median housing values in the state, yet the neighborhood has a track record according to NeighborhoodScout's exclusive neighborhood home appreciation rates of above average real estate appreciation over the last five years compared to other VA neighborhoods, protecting your investment in your first home, while simultaneously making it less risky for your lender. Not only does this neighborhood stand out for combining price and home value stability or increases, it also is a neighborhood with a high quality resident population according exclusive data, meaning this is likely a good place to buy, live, and enjoy. While many first time home buyers focus purely on low cost and convenient location, which can risk your investment in your first home and put you in a less than desirable neighborhood, this neighborhood is a true standout for a lot of reasons, and definitely worth a look if you are a first time home buyer.

Also, the Manchester neighborhood has a greater percentage of children living in poverty (54.9%) than found in 95.6% of all U.S. neighborhoods. Children living in poverty is one of the challenges facing America, and the world, and in this neighborhood in particular, the problem can be considered acute.

Diversity

Did you know that the Manchester neighborhood has more Greek and Hungarian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.1% of this neighborhood's residents have Greek ancestry and 2.6% have Hungarian ancestry.

Manchester is also pretty special linguistically. Significantly, 6.9% of its residents five years old and above primarily speak Italian at home. While this may seem like a small percentage, it is higher than 95.8% 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 Manchester neighborhood in Richmond are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 85.7% of U.S. neighborhoods. With 54.9% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 95.6% of U.S. neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Manchester neighborhood, 46.0% 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 18.9% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (17.4%), and 14.3% 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 Manchester neighborhood is English, spoken by 91.6% of households. Other important languages spoken here include Italian and Spanish.

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the Manchester neighborhood in Richmond, VA, residents most commonly identify their ethnicity or ancestry as Irish (12.9%). There are also a number of people of German ancestry (6.5%), and residents who report Sub-Saharan African roots (5.9%), and some of the residents are also of English ancestry (5.3%), along with some Italian ancestry residents (4.7%), among others.

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 Manchester neighborhood spend between 15 and 30 minutes commuting one-way to work (69.4% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (67.3%) 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 (12.1%) and 7.0% of residents also ride the bus 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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