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Real Estate Prices & Overview

Greenwood Forest median real estate price is $293,403, which is less expensive than 69.7% of Virginia neighborhoods and 58.8% of all U.S. neighborhoods.

The average rental price in Greenwood Forest is currently $2,188, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 49.7% of Virginia neighborhoods.

Greenwood Forest is a suburban neighborhood (based on population density) located in Roanoke, Virginia.

Greenwood Forest real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four 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 Greenwood Forest neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Vacant apartments or homes are a major fact of life in Greenwood Forest. The current real estate vacancy rate here is 17.7%. This is higher than the rate of vacancies in 83.3% 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.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

People

According to NeighborhoodScout's research, Greenwood Forest is better suited for first-time home buyers than 89.0% of neighborhoods in the state. Most homes here are priced below the state's median house value, yet maintain comparably good appreciation rates over the last decade relative to other neighborhoods in Virginia. Along with an exclusive multi-metric measure of neighborhood quality developed by NeighborhoodScout that scores high here in this neighborhood, this means that buying into the neighborhood is not only an accessible option but considered a decent first time home buyer choice for building equity in your first home, while being in a quality neighborhood

Diversity

Did you know that the Greenwood Forest neighborhood has more Czechoslovakian and Native American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 0.9% of this neighborhood's residents have Czechoslovakian ancestry and 1.9% have Native American ancestry.

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 Greenwood Forest neighborhood in Roanoke are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 47.0% of the neighborhoods in America. With 15.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 60.8% 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 Greenwood Forest neighborhood, 49.5% 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 30.2% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (16.0%), and 4.6% in government jobs, whether they are in local, state, or federal positions.

Languages

The most common language spoken in the Greenwood Forest neighborhood is English, spoken by 94.0% of households.

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 Greenwood Forest neighborhood in Roanoke, VA, residents most commonly identify their ethnicity or ancestry as German (15.6%). There are also a number of people of English ancestry (10.7%), and residents who report Irish roots (9.8%), and some of the residents are also of Asian ancestry (8.9%), along with some Italian ancestry residents (4.5%), among others. In addition, 10.3% 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 Greenwood Forest neighborhood spend between 15 and 30 minutes commuting one-way to work (51.8% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (73.0%) 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 (20.1%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


Real Estate includes:
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Economics & Demographics include:
Lifestyle & Special Character
Household Types
Commute To Work
Migration & Mobility
Race & Ethnic Diversity
Employment Industries & Occupations
Income & Unemployment Rate
Higher Education Attainment
Crime includes:
Neighborhood Crime Index
Crimes Per Square Mile
Property Crime Comparison
Violent Crime Comparison
Schools include:
School Ratings
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