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Real Estate Prices & Overview

Bala median real estate price is $510,890, which is more expensive than 79.2% of the neighborhoods in Pennsylvania and 63.0% of the neighborhoods in the U.S.

The average rental price in Bala is currently $3,062, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 92.0% of the neighborhoods in Pennsylvania.

Bala is a suburban neighborhood (based on population density) located in Bala Cynwyd, Pennsylvania.

Bala 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 owner occupied. Many of the residences in the Bala neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 2000 and the present.

Real estate vacancies in Bala are 5.3%, which is lower than one will find in 63.5% of American neighborhoods. Demand for real estate in Bala 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

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.

Modes of Transportation

In the Bala neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 31.1% 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 95.4% 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.

Diversity

Did you know that the Bala neighborhood has more Russian and Eastern European ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 11.0% of this neighborhood's residents have Russian ancestry and 4.0% have Eastern European ancestry.

Bala is also pretty special linguistically. Significantly, 3.5% of its residents five years old and above primarily speak African languages at home. While this may seem like a small percentage, it is higher than 97.6% of the neighborhoods in America.

The Neighbors

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 Bala neighborhood in Bala Cynwyd are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 78.6% of the neighborhoods in America. In addition, 3.4% 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 69.7% 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 Bala neighborhood, 69.1% 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 14.2% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (10.9%), and 5.8% in clerical, assistant, and tech support 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 Bala neighborhood is English, spoken by 85.9% of households. Other important languages spoken here include Polish, African languages, Langs. of India and French.

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 Bala neighborhood in Bala Cynwyd, PA, residents most commonly identify their ethnicity or ancestry as Russian (11.0%). There are also a number of people of Italian ancestry (6.2%), and residents who report Asian roots (5.8%), and some of the residents are also of English ancestry (4.9%), along with some German ancestry residents (4.7%), among others. In addition, 12.4% of the residents of this neighborhood were born in another country.

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 Bala neighborhood spend under 15 minutes commuting one-way to work (38.3% of working residents), one of the shortest commutes across America.

Here most residents (57.6%) 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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