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Real Estate Prices & Overview

Devonshire median real estate price is $1,965,752, which is more expensive than 99.7% of the neighborhoods in Tennessee and 98.4% of the neighborhoods in the U.S.

The average rental price in Devonshire is currently $4,579, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 99.0% of the neighborhoods in Tennessee.

Devonshire is a suburban neighborhood (based on population density) located in Forest Hills, Tennessee.

Devonshire real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and small apartment buildings. Most of the residential real estate is owner occupied. Many of the residences in the Devonshire neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

In Devonshire, the current vacancy rate is 1.9%, which is a lower rate of vacancies than 88.0% of all neighborhoods in the U.S. This means that the housing supply in Devonshire is very tight compared to the demand for property here.

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 Forest Hills, the Devonshire neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

If you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 0.9% of America's neighborhoods are wealthier than the Devonshire neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe.

In addition, a majority of the adults in the Devonshire neighborhood are wealthy and educated executives. They own stately homes that tend to maintain high real estate appreciation rates. Their upper-level careers keep them busy, but allow them to live comfortably. If you're an executive and want to keep similar company, consider settling in this neighborhood, rated as an executive lifestyle "best choice" neighborhood for Tennessee by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 98.5% of the neighborhoods in Tennessee. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for families with school-aged children and urban sophisticates.

Also, do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 79.9% of the adults living in the Devonshire neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 97.9% of U.S. neighborhoods. In this way, this neighborhood truly stands out.

Finally, astoundingly, NeighborhoodScout's research reveals that this single neighborhood has a higher concentration of married couples living here than 97.1% of all U.S. neighborhoods. Whether they have school-aged children or not, married couples are the rule in the Devonshire neighborhood. If you are a married couple, you may find many people here with a similar lifestyle, and perhaps common interests. But if you are single, you might not find many other singles here.

Modes of Transportation

In the Devonshire neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 27.8% 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 97.9% 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

One way that the Devonshire neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 97.2% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.

In addition, real estate in the Devonshire neighborhood is almost exclusively owner-occupied. NeighborhoodScout's analysis reveals that this neighborhood has a higher rate of owner-occupied housing than is found in 97.2% of U.S. neighborhoods. If you are seeking to rent, this neighborhood may not have many options, but high rates of ownership often indicate stability in a neighborhood.

Furthermore, the Devonshire neighborhood has earned the amazing distinction of having one of the highest rates of detached, single-family homes of any neighborhood in the U.S. With 98.3% of the residential real estate here made up of free-standing single-family homes, there is a greater proportion of single-family homes here than in 96.5% of all neighborhoods in America.

Diversity

Did you know that the Devonshire neighborhood has more Austrian and Scots-Irish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.0% of this neighborhood's residents have Austrian ancestry and 4.4% have Scots-Irish ancestry.

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 Devonshire neighborhood in Forest Hills are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 99.1% of the neighborhoods in America. With 13.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 56.1% of U.S. neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Devonshire neighborhood, 67.6% 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 21.8% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (7.1%), and 3.5% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Devonshire neighborhood is English, spoken by 98.2% of households.

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 Devonshire neighborhood in Forest Hills, TN, residents most commonly identify their ethnicity or ancestry as English (19.1%). There are also a number of people of Irish ancestry (13.7%), and residents who report German roots (9.3%), and some of the residents are also of Italian ancestry (6.4%), along with some Scottish ancestry residents (5.4%), among others.

Getting to Work

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 Devonshire neighborhood spend between 15 and 30 minutes commuting one-way to work (49.4% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (67.2%) 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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