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Real Estate Prices & Overview

Cape Colony / Somerset median real estate price is $334,788, which is more expensive than 53.8% of the neighborhoods in North Carolina and 44.9% of the neighborhoods in the U.S.

The average rental price in Cape Colony / Somerset is currently $2,200, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 70.1% of the neighborhoods in North Carolina.

Cape Colony / Somerset is a remote neighborhood (based on population density) located in Edenton, North Carolina. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).

Cape Colony / Somerset real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and mobile homes. Most of the residential real estate is owner occupied. Many of the residences in the Cape Colony / Somerset neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Cape Colony / Somerset has a 12.8% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 72.0% 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.

Notable & Unique Neighborhood Characteristics

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 Edenton, the Cape Colony / Somerset neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

Cape Colony / Somerset is a neighborhood that is on the ocean, a bay, or inlet. Many times, such places have amenities that bring locals and visitors to the waterfront for recreational activities or to check out the scenery. In some densely populated areas that are less financially well-off, the neighborhood waterfront can be relatively industrial and less open to recreation. In addition to being coastal, Cape Colony / Somerset is a very nautical neighborhood, meaning that it is somewhat historic, walkable, densely populated and on the water. This gives the neighborhood a very nautical feel, with some seaside and shipping feel, which some may really enjoy the sights and sounds of.

People

If you're planning where to retire, the Cape Colony / Somerset neighborhood in Edenton is a great option to consider. According to NeighborhoodScout's exclusive retirement dream area analysis, it's peaceful and quiet, has above average safety ratings compared to other neighborhoods in NC, offers a wide range of housing options, and has already attracted an enviable mix of college educated seniors. This neighborhood ranks as better for retirement living than 88.4% of the neighborhoods in North Carolina. If you are considering retiring to North Carolina, this is a good neighborhood to look at.

The Neighbors

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 Cape Colony / Somerset neighborhood in Edenton are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 44.3% of the neighborhoods in America. In addition, 2.6% 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 73.1% of America'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 Cape Colony / Somerset neighborhood, 47.9% 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 20.4% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (18.2%), and 12.2% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Cape Colony / Somerset neighborhood is English, spoken by 95.9% of households. Some people also speak Spanish (2.5%).

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 Cape Colony / Somerset neighborhood in Edenton, NC, residents most commonly identify their ethnicity or ancestry as English (16.6%). There are also a number of people of German ancestry (7.8%), and residents who report Irish roots (6.2%), and some of the residents are also of Sub-Saharan African ancestry (4.7%), along with some African ancestry residents (4.7%), among others.

Getting to Work

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 Cape Colony / Somerset neighborhood spend under 15 minutes commuting one-way to work (43.0% of working residents), one of the shortest commutes across America.

Here most residents (87.3%) drive alone in a private automobile to get to work. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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