Central Business District median real estate price is $219,728, which is less expensive than 86.2% of Virginia neighborhoods and 77.0% of all U.S. neighborhoods.
The average rental price in Central Business District is currently $1,620, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 77.3% of Virginia neighborhoods.
Central Business District is a suburban neighborhood (based on population density) located in Lynchburg, Virginia.
Central Business District 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 Central Business District 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 2000 and the present.
Vacant apartments or homes are a major fact of life in Central Business District. The current real estate vacancy rate here is 30.3%. This is higher than the rate of vacancies in 95.2% 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.
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.
In a nation where 1 out of every 4 children lives in poverty, the Central Business District neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.
In addition, the types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 61.4%. This is a higher percent living alone than we found in 98.9% of all U.S. neighborhoods. Often residents who live alone are new arrivals to an area who are single, and often senior citizens who have lost a spouse.
Also, neighborhoodScout's analysis shows that the Central Business District neighborhood has a greater concentration of residents currently enrolled in college than 97.5% of the neighborhoods in the U.S. With 17.7% of the population here attending college, this is very much a college-focused neighborhood.
The Central Business District 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 97.4% 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.
In addition, renter-occupied real estate is dominant in the Central Business District neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 95.8%, which is higher than 98.2% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so. Vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 30.3% of the residential real estate vacant, the Central Business District neighborhood claims the distinction of having a higher vacancy rate than 95.2% 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.
Furthermore, one of the really unique and interesting things about the look and setting of the Central Business District neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 87.8% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 97.9% of all neighborhoods in America.
Also of note, do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The Central Business District neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 69.2% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 98.5% of the neighborhoods in the United States.
With 4.3% of employed workers living in the Central Business District neighborhood active in the military, this neighborhood has the distinction of having a higher proportion of people in the military than 98.4% of American neighborhoods. This is a major shaper of the neighborhood's culture and character.
Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. Residents of the Central Business District neighborhood have the pleasure of having one of the shortest commutes to work of any neighborhood in America. 59.9% 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 96.0% of U.S. neighborhoods. Less time commuting means more time for other things in life.
Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Central Business District neighborhood. In the Central Business District neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.4% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
Did you know that the Central Business District neighborhood has more Welsh and Jamaican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.3% of this neighborhood's residents have Welsh ancestry and 8.0% have Jamaican ancestry.
Central Business District is also pretty special linguistically. Significantly, 0.6% of its residents five years old and above primarily speak Persian at home. While this may seem like a small percentage, it is higher than 96.1% of the neighborhoods in America.
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 Central Business District neighborhood in Lynchburg are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 90.2% 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.
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 Central Business District neighborhood, 44.2% 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 31.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (15.3%), and 8.6% in manufacturing and laborer occupations.
Languages
The most common language spoken in the Central Business District neighborhood is English, spoken by 99.0% of households.
Ethnicity / Ancestry
Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.
In the Central Business District neighborhood in Lynchburg, VA, residents most commonly identify their ethnicity or ancestry as German (13.9%). There are also a number of people of English ancestry (8.3%), and residents who report Jamaican roots (8.0%), and some of the residents are also of Irish ancestry (6.2%), along with some Scottish ancestry residents (4.5%), 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 Central Business District neighborhood spend under 15 minutes commuting one-way to work (59.9% of working residents), one of the shortest commutes across America.
Here most residents (75.7%) 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 (10.6%) and 5.5% of residents also hop out the door and walk to work 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.
