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Real Estate Prices & Overview

Banbury Cross / Old Quaker Estate median real estate price is $473,950, which is more expensive than 60.4% of the neighborhoods in Virginia and 66.2% of the neighborhoods in the U.S.

The average rental price in Banbury Cross / Old Quaker Estate is currently $2,741, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 73.9% of the neighborhoods in Virginia.

Banbury Cross / Old Quaker Estate is a rural neighborhood (based on population density) located in Williamsburg, Virginia.

Banbury Cross / Old Quaker Estate 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 owner occupied. Many of the residences in the Banbury Cross / Old Quaker Estate 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.

Vacant apartments or homes are a major fact of life in Banbury Cross / Old Quaker Estate. The current real estate vacancy rate here is 35.4%. This is higher than the rate of vacancies in 96.5% 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

Of note is NeighborhoodScout's research finding that the Banbury Cross / Old Quaker Estate neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Banbury Cross / Old Quaker Estate community truly stands out from the rest in this regard.

In addition, if you're nearing retirement age, or in retirement, the Banbury Cross / Old Quaker Estate is an excellent choice for you to consider for top-quality retirement living. This neighborhood is rated by NeighborhoodScout as among the top 5.4% of retiree-friendly neighborhoods in Virginia, combining peace and quiet, safety from crime, and offering diverse housing options from which retirees can choose. Maybe it's because of these amenities that a large proportion of the residents here are college educated seniors, mixed with other age groups. For these and other reasons, NeighborhoodScout identifies this neighborhood as a top-notch place to consider if you are thinking of or planning to retire in Virginia.

Real Estate

Vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 35.4% of the residential real estate vacant, the Banbury Cross / Old Quaker Estate neighborhood claims the distinction of having a higher vacancy rate than 96.5% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.

Occupations

With 1.9% of employed workers living in the Banbury Cross / Old Quaker Estate neighborhood active in the military, this neighborhood has the distinction of having a higher proportion of people in the military than 96.1% of American neighborhoods. This is a major shaper of the neighborhood's culture and character.

Furthermore, the Banbury Cross / Old Quaker Estate neighborhood has a greater proportion of government workers living in it than 95.1% of the neighborhoods in America, according to NeighborhoodScout's exclusive analysis. This is a unique feature of this neighborhood, and one that shapes its character.

Diversity

Did you know that the Banbury Cross / Old Quaker Estate neighborhood has more Scots-Irish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.7% of this neighborhood's residents have Scots-Irish ancestry.

Banbury Cross / Old Quaker Estate is also pretty special linguistically. Significantly, 13.6% 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 98.9% 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 Banbury Cross / Old Quaker Estate neighborhood in Williamsburg are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 60.0% 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 Banbury Cross / Old Quaker Estate neighborhood, 53.8% 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 24.5% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (12.6%), and 12.2% 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 Banbury Cross / Old Quaker Estate neighborhood is English, spoken by 92.1% of households. Other important languages spoken here include Italian, Spanish and Polish.

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 Banbury Cross / Old Quaker Estate neighborhood in Williamsburg, VA, residents most commonly identify their ethnicity or ancestry as English (15.5%). There are also a number of people of German ancestry (13.1%), and residents who report Irish roots (12.5%), and some of the residents are also of Italian ancestry (6.9%), along with some Polish ancestry residents (5.6%), 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 Banbury Cross / Old Quaker Estate neighborhood spend between 15 and 30 minutes commuting one-way to work (37.2% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (72.2%) 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 (5.2%) . 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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