Virginia Military Institute median real estate price is $318,622, which is less expensive than 67.3% of Virginia neighborhoods and 57.0% of all U.S. neighborhoods.
The average rental price in Virginia Military Institute is currently $1,158, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 95.9% of Virginia neighborhoods.
Virginia Military Institute is an urban neighborhood (based on population density) located in Lexington, Virginia.
Virginia Military Institute 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 small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Virginia Military Institute 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.
Vacant apartments or homes are a major fact of life in Virginia Military Institute. The current real estate vacancy rate here is 23.3%. This is higher than the rate of vacancies in 90.4% 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.
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 Lexington, the Virginia Military Institute neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
Of note is NeighborhoodScout's research finding that the Virginia Military Institute 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 Virginia Military Institute community truly stands out from the rest in this regard.
In addition, one of the really interesting characteristics about the Virginia Military Institute 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 0.1% of college-friendly places to live in the state of Virginia.
Also, neighborhoodScout's analysis shows that the Virginia Military Institute neighborhood has a greater concentration of residents currently enrolled in college than 99.8% of the neighborhoods in the U.S. With 91.5% of the population here attending college, this is very much a college-focused neighborhood.
Modes of Transportation
In the Virginia Military Institute neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 65.1% of residents here. This is a higher proportion of walking commuters than we found in 100.0% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Car Ownership
We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the Virginia Military Institute neighborhood has a highly unusual pattern of car ownership. Residents of this neighborhood must really love automobiles. NeighborhoodScout's Analysis reveals that 61.0% of the households here have four, five, or more cars. That is more cars per household than in 99.9% of the neighborhoods in the nation.
Length of Commute
Whether walking, biking, riding, or driving, the length of one's commute is an important factor for one's quality of life. The Virginia Military Institute neighborhood stands out for its commute length, according to NeighborhoodScout's analysis. Residents of the Virginia Military Institute neighborhood have the pleasure of having one of the shortest commutes to work of any neighborhood in America. 82.5% of the residents have a commute time from home to work (one way) of less than fifteen minutes. This is a higher proportion of residents enjoying a short trip to work than NeighborhoodScout found in 99.7% of U.S. neighborhoods. Less time commuting means more time for other things in life.
Real Estate
100.0% of the real estate in the Virginia Military Institute neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
In addition, the Virginia Military Institute neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 87.3% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
Furthermore, corner bodegas, stores on the first floor and apartments above, former grand Victorian residences converted into apartments, three-deckers built shoulder-to-shoulder, duplexes. Such building types define the real estate of neighborhoods dominated by small 2, 3, and 4 unit apartment buildings. Many are in older core neighborhoods of Eastern and Midwestern cities, or historic town centers in their hinterlands. If you wax romantic about the look and feel of such neighborhoods, with fresh pizza, falafel and an independent florist at the corner, then you might find the Virginia Military Institute neighborhood worth a close look. This neighborhood is an absolutely outstanding example of the dominance of small 2, 3, and 4 unit apartment buildings compared to neighborhoods across the nation, as they make up a substantial portion of this neighborhood's real estate stock. In fact, no less than 31.8% of the real estate here is made up of such dwellings, which is higher than 95.2% of all U.S. neighborhoods.
Occupations
There are more people living in the Virginia Military Institute neighborhood employed as sales and service workers (55.2%) than almost any neighborhood in the country. From fast-food service workers to major sales accounts, sales and service workers make up the largest proportion of our national employment picture. But despite that size and importance nationally, this neighborhood still stands out as unique due to the dominance of people living here who work in such occupations.
Diversity
Did you know that the Virginia Military Institute neighborhood has more Ukrainian and Iranian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.8% of this neighborhood's residents have Ukrainian ancestry and 0.9% have Iranian ancestry.
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 Virginia Military Institute neighborhood in Lexington are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 100.0% of U.S. neighborhoods. 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.
A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.
In the Virginia Military Institute neighborhood, 44.8% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 33.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (19.6%), and 2.6% 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 Virginia Military Institute neighborhood is English, spoken by 88.7% of households. Other important languages spoken here include Spanish and Chinese.
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 Virginia Military Institute neighborhood in Lexington, VA, residents most commonly identify their ethnicity or ancestry as German (18.7%). There are also a number of people of Irish ancestry (17.7%), and residents who report English roots (8.7%), and some of the residents are also of Italian ancestry (7.4%), along with some Polish ancestry residents (5.8%), 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 Virginia Military Institute neighborhood spend under 15 minutes commuting one-way to work (82.5% of working residents), one of the shortest commutes across America.
Here most residents (65.1%) hop out the door and walk to work to get to work. In addition, quite a number also drive alone in a private automobile to get to work (11.3%) . This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.
