Central Park / Old Five Points median real estate price is $663,765, which is more expensive than 90.3% of the neighborhoods in North Carolina and 78.6% of the neighborhoods in the U.S.
The average rental price in Central Park / Old Five Points is currently $3,325, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 96.5% of the neighborhoods in North Carolina.
Central Park / Old Five Points is an urban neighborhood (based on population density) located in Durham, North Carolina.
Central Park / Old Five Points 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 renter occupied. Many of the residences in the Central Park / Old Five Points neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.
Central Park / Old Five Points has a 13.0% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 72.7% 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.
Occupations
The Central Park / Old Five Points neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 99.2% of the neighborhoods in America. In fact, 80.8% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
People
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: 58.3%. This is a higher percent living alone than we found in 98.5% 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.
In addition, the rate of college educated adults in the Central Park / Old Five Points neighborhood is a unique characteristic of the neighborhood. 82.0% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 34.3% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 98.4% of all U.S. neighborhoods.
Also, the Central Park / Old Five Points neighborhood stands out within North Carolina for its college student friendly environment. NeighborhoodScout's analysis reveals that this neighborhood is home to a number of college students, is relatively walkable, and above average in safety. In combination, this makes it stand out for a good place for college students to consider. Because a number of college students live here, this neighborhood may be close to a college campus and offer certain amenities nearby geared towards the student body. While it's not an environment for everyone, ambitious scholars can enjoy seasonal excitement between semesters and school breaks, and parents can rest easy knowing that the area has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 5.4% of college-friendly places to live in NC. In addition to being an excellent choice for college students, this neighborhood is also a very good choice for young, single professionals and urban sophisticates.
Real Estate
The Central Park / Old Five Points 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 90.8% 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, one of the really unique and interesting things about the look and setting of the Central Park / Old Five Points neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 84.4% 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 97.4% of all neighborhoods in America.
Modes of Transportation
More people in Central Park / Old Five Points choose to walk to work each day (13.2%) 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.
Diversity
Did you know that the Central Park / Old Five Points neighborhood has more Brazilian and Welsh ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.7% of this neighborhood's residents have Brazilian ancestry and 2.2% have Welsh ancestry.
Central Park / Old Five Points is also pretty special linguistically. Significantly, 2.2% of its residents five years old and above primarily speak German/Yiddish at home. While this may seem like a small percentage, it is higher than 96.8% of the neighborhoods in America.
Migration / Stability
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 Park / Old Five Points neighborhood. In the Central Park / Old Five Points neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 96.6% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
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 Central Park / Old Five Points neighborhood in Durham are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 74.4% of the neighborhoods in America. With 13.9% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 57.9% 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 Central Park / Old Five Points neighborhood, 80.8% 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 8.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (5.9%), and 5.2% 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 Central Park / Old Five Points neighborhood is English, spoken by 88.6% of households. Other important languages spoken here include Spanish, Polish and German/Yiddish.
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 Central Park / Old Five Points neighborhood in Durham, NC, residents most commonly identify their ethnicity or ancestry as German (19.9%). There are also a number of people of English ancestry (13.5%), and residents who report Irish roots (12.8%), and some of the residents are also of Italian ancestry (11.3%), along with some Asian ancestry residents (4.2%), among others. In addition, 12.2% of the residents of this neighborhood were born in another country.
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 Park / Old Five Points neighborhood spend between 15 and 30 minutes commuting one-way to work (35.7% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (56.2%) 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 (13.2%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
