Oakwood median real estate price is $365,050, which is more expensive than 39.8% of the neighborhoods in Virginia and 48.2% of the neighborhoods in the U.S.
The average rental price in Oakwood is currently $1,945, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 67.5% of Virginia neighborhoods.
Oakwood is an urban neighborhood (based on population density) located in Norfolk, Virginia.
Oakwood real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Oakwood neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.
In Oakwood, the current vacancy rate is 2.8%, which is a lower rate of vacancies than 80.4% of all neighborhoods in the U.S. This means that the housing supply in Oakwood is very tight compared to the demand for property here.
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.
The Oakwood neighborhood stands out nationally for having a greater proportion of its residents active in the military than 98.8% of other U.S. neighborhoods. If you come here, you will notice military people active in their jobs, going to and from work, and in plain clothes out and about the neighborhood.
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 Oakwood neighborhood has a highly unusual pattern of car ownership. 21.3% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 95.5% of U.S. neighborhoods.
Did you know that the Oakwood neighborhood has more Jamaican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 9.8% of this neighborhood's residents have Jamaican 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 Oakwood neighborhood in Norfolk are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 73.1% of U.S. neighborhoods. With 29.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 81.3% of U.S. neighborhoods.
The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.
In the Oakwood neighborhood, 33.5% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 24.9% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (21.8%), and 19.8% in manufacturing and laborer occupations.
The most common language spoken in the Oakwood neighborhood is English, spoken by 91.3% of households. Some people also speak Spanish (3.9%).
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 Oakwood neighborhood in Norfolk, VA, residents most commonly identify their ethnicity or ancestry as Jamaican (9.8%). There are also a number of people of Sub-Saharan African ancestry (5.9%), and residents who report African roots (3.7%), and some of the residents are also of Asian ancestry (3.6%), along with some Puerto Rican ancestry residents (2.1%), among others.
Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Oakwood neighborhood spend under 15 minutes commuting one-way to work (44.9% of working residents), one of the shortest commutes across America.
Here most residents (76.0%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (8.9%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.