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Real Estate Prices & Overview

Monument Ave / Bremo Rd median real estate price is $485,249, which is more expensive than 60.5% of the neighborhoods in Virginia and 66.3% of the neighborhoods in the U.S.

The average rental price in Monument Ave / Bremo Rd is currently $3,038, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 84.1% of the neighborhoods in Virginia.

Monument Ave / Bremo Rd is a suburban neighborhood (based on population density) located in Richmond, Virginia.

Monument Ave / Bremo Rd real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Monument Ave / Bremo Rd neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

Real estate vacancies in Monument Ave / Bremo Rd are 3.5%, which is lower than one will find in 77.0% of American neighborhoods. Demand for real estate in Monument Ave / Bremo Rd 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.

People

In a nation where 1 out of every 4 children lives in poverty, the Monument Ave / Bremo Rd neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

Diversity

Did you know that the Monument Ave / Bremo Rd neighborhood has more Swedish and Scottish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 9.3% of this neighborhood's residents have Swedish ancestry and 7.8% have Scottish ancestry.

Monument Ave / Bremo Rd is also pretty special linguistically. Significantly, 0.3% of its residents five years old and above primarily speak Mon-Khmer, which is the dominant language of Cambodia, at home. While this may seem like a small percentage, it is higher than 97.1% 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 Monument Ave / Bremo Rd neighborhood in Richmond are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 78.3% of the neighborhoods in America. In addition, 0.0% 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 100.0% 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 Monument Ave / Bremo Rd neighborhood, 67.6% 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 13.7% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (9.4%), and 9.2% in manufacturing and laborer 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 Monument Ave / Bremo Rd neighborhood is English, spoken by 86.0% of households. Other important languages spoken here include Spanish and Chinese.

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 Monument Ave / Bremo Rd neighborhood in Richmond, VA, residents most commonly identify their ethnicity or ancestry as English (16.9%). There are also a number of people of Irish ancestry (12.6%), and residents who report German roots (10.2%), and some of the residents are also of Swedish ancestry (9.3%), along with some Scottish ancestry residents (7.8%), among others. In addition, 10.7% 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 Monument Ave / Bremo Rd 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 (76.5%) 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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