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Real Estate Prices & Overview

Richmond Northeast median real estate price is $654,479, which is more expensive than 70.6% of the neighborhoods in Oregon and 76.7% of the neighborhoods in the U.S.

The average rental price in Richmond Northeast is currently $2,578, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 78.8% of the neighborhoods in Oregon.

Richmond Northeast is a densely urban neighborhood (based on population density) located in Portland, Oregon.

Richmond Northeast real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Richmond Northeast 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.

Real estate vacancies in Richmond Northeast are 5.1%, which is lower than one will find in 66.0% of American neighborhoods. Demand for real estate in Richmond Northeast is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

Notable & Unique Neighborhood Characteristics

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.

People

Of note is NeighborhoodScout's research finding that the Richmond Northeast 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 Richmond Northeast community truly stands out from the rest in this regard.

In addition, think about the people you know personally. How many of them would purchase box seats to opening night at the symphony? How many of them regularly attend gallery openings, or are the first to reserve tickets to opening night at the ballet? If they're like most of us, they don't do any of these things. But if you're among an exclusive crowd of wealthy and refined patrons of the arts, then you'll feel right at home in the Richmond Northeast neighborhood: a neighborhood in which more "urban sophisticates" live than 97.6% of neighborhoods across the U.S. Here, your neighbors are defined as having urbane tastes in literature, music, live theatre and the arts. They are wealthy, educated, travel in style, and live a big city lifestyle whether or not they live in or near a big city.

Modes of Transportation

Would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the Richmond Northeast neighborhood is a fantastic option for bicycle commuters, as 14.8% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 99.9% of the neighborhoods in America.

Also, in the Richmond Northeast neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 33.9% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 98.5% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.

Real Estate

Being a walkable neighborhood can help increase property values for the simple reason that people enjoy it and value it. To put it plainly, despite our love affair with the automobile, American's enjoy taking to the streets, sidewalks, paths, and courtyards of a place to get a coffee, relax, and take in the sights and sounds. And, according to NeighborhoodScout's exclusive and first quantitative walkable score index, the Richmond Northeast neighborhood is one of the most walkable neighborhoods in America.

Diversity

Did you know that the Richmond Northeast neighborhood has more English and British ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 24.9% of this neighborhood's residents have English ancestry and 2.6% have British ancestry.

Richmond Northeast is also pretty special linguistically. Significantly, 1.0% of its residents five years old and above primarily speak Native American languages at home. While this may seem like a small percentage, it is higher than 97.6% of the neighborhoods in America.

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 Richmond Northeast neighborhood in Portland are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 80.6% of the neighborhoods in America. 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 Richmond Northeast neighborhood, 65.2% 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 13.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (12.2%), and 9.3% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Richmond Northeast neighborhood is English, spoken by 94.3% of households. Some people also speak Spanish (3.5%).

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the Richmond Northeast neighborhood in Portland, OR, residents most commonly identify their ethnicity or ancestry as English (24.9%). There are also a number of people of German ancestry (21.1%), and residents who report Irish roots (14.5%), and some of the residents are also of Italian ancestry (6.6%), along with some Puerto Rican ancestry residents (5.4%), 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 Richmond Northeast neighborhood spend between 15 and 30 minutes commuting one-way to work (47.0% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (34.9%) drive alone in a private automobile to get to work. In addition, quite a number also bicycle to get to work (14.8%) and 6.4% of residents also ride the bus 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.


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