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Real Estate Prices & Overview

Fairmount Park median real estate price is $270,783, which is less expensive than 74.1% of Virginia neighborhoods and 63.4% of all U.S. neighborhoods.

The average rental price in Fairmount Park is currently $1,982, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 58.2% of Virginia neighborhoods.

Fairmount Park is an urban neighborhood (based on population density) located in Norfolk, Virginia.

Fairmount Park real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two 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 Fairmount Park neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

Fairmount Park has a 10.4% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 63.4% 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 Norfolk, the Fairmount Park neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

Divorcees may find friendship and understanding in this neighborhood, as 20.2% of its residents are divorced. NeighborhoodScout's exclusive analysis found that this divorce rate is higher than in 95.8% of the neighborhoods in America.

Diversity

Did you know that the Fairmount Park neighborhood has more Swiss ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.7% of this neighborhood's residents have Swiss ancestry.

Fairmount Park is also pretty special linguistically. Significantly, 0.6% 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 95.2% 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 Fairmount Park neighborhood in Norfolk are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 81.9% of U.S. neighborhoods. With 17.8% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 65.2% of U.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 Fairmount Park neighborhood, 28.3% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 26.5% of the residents employed. Other residents here are employed in executive, management, and professional occupations (25.6%), and 18.9% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Fairmount Park neighborhood is English, spoken by 94.8% of households. Some people also speak Spanish (2.4%).

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 Fairmount Park neighborhood in Norfolk, VA, residents most commonly identify their ethnicity or ancestry as Irish (11.7%). There are also a number of people of German ancestry (7.9%), and residents who report English roots (3.3%), and some of the residents are also of Sub-Saharan African ancestry (3.1%), along with some African ancestry residents (3.1%), 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 Fairmount Park neighborhood spend between 15 and 30 minutes commuting one-way to work (47.8% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (78.5%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (7.7%) . 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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