College Terrace / Downtown Fredericksburg median real estate price is $848,714, which is more expensive than 83.9% of the neighborhoods in Virginia and 84.4% of the neighborhoods in the U.S.
The average rental price in College Terrace / Downtown Fredericksburg is currently $1,854, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 70.1% of Virginia neighborhoods.
College Terrace / Downtown Fredericksburg is a suburban neighborhood (based on population density) located in Fredericksburg, Virginia.
College Terrace / Downtown Fredericksburg real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and small apartment buildings. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the College Terrace / Downtown Fredericksburg neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1940 and 1969.
College Terrace / Downtown Fredericksburg has a 13.5% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 75.2% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.
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.
More people in College Terrace / Downtown Fredericksburg choose to walk to work each day (11.6%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.
One of the really interesting characteristics about the College Terrace / Downtown Fredericksburg neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 4.6% of college-friendly places to live in the state of Virginia. In addition to being an excellent choice for college students, this neighborhood is also a very good choice for urban sophisticates.
In addition, some neighborhoods have residents that are more educated than others. But in this neighborhood there is a dramatic difference. NeighborhoodScout's exclusive analysis reveals that 36.0% of the adults here have earned a Masters degree, medical degree, Ph.D. or law degree. This is a higher rate of people with a graduate degree than is found in 95.3% of U.S. neighborhoods, where the average American neighborhood has 13.7% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.
If you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 60.8% of the residential real estate in the College Terrace / Downtown Fredericksburg neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 96.8% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
Did you know that the College Terrace / Downtown Fredericksburg neighborhood has more English and Welsh ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 25.2% of this neighborhood's residents have English ancestry and 2.7% have Welsh ancestry.
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 College Terrace / Downtown Fredericksburg neighborhood in Fredericksburg are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 82.3% of the neighborhoods in America. In addition, 1.6% 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 76.5% 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 College Terrace / Downtown Fredericksburg neighborhood, 64.4% 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 23.1% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (9.5%), and 9.4% in clerical, assistant, and tech support occupations.
The most common language spoken in the College Terrace / Downtown Fredericksburg neighborhood is English, spoken by 94.3% of households. Some people also speak Spanish (4.0%).
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 College Terrace / Downtown Fredericksburg neighborhood in Fredericksburg, VA, residents most commonly identify their ethnicity or ancestry as English (25.2%). There are also a number of people of German ancestry (16.8%), and residents who report Irish roots (15.4%), and some of the residents are also of Italian ancestry (10.1%), along with some South American ancestry residents (3.3%), among others.
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 College Terrace / Downtown Fredericksburg neighborhood spend under 15 minutes commuting one-way to work (40.0% of working residents), one of the shortest commutes across America.
Here most residents (63.0%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (11.6%) and 7.4% of residents also carpool with coworkers, friends, or neighbors 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.