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Real Estate Prices & Overview

Gainesway median real estate price is $267,148, which is more expensive than 63.5% of the neighborhoods in Kentucky and 33.7% of the neighborhoods in the U.S.

The average rental price in Gainesway is currently $1,362, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 60.4% of Kentucky neighborhoods.

Gainesway is an urban neighborhood (based on population density) located in Lexington, Kentucky.

Gainesway 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 Gainesway neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Home and apartment vacancy rates are 7.2% in Gainesway. NeighborhoodScout analysis shows that this rate is lower than 52.8% of the neighborhoods in the nation, approximately near the middle range for vacancies.

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

People

The Gainesway neighborhood stands out for having an average per capita income lower than 96.2% of the neighborhoods in the United States. The Gainesway neighborhood also has a greater percentage of children living in poverty (72.9%) than found in 98.8% of all U.S. neighborhoods. Children living in poverty is one of the challenges facing America, and the world, and in this neighborhood in particular, the problem can be considered acute.

In addition, divorcees may find friendship and understanding in this neighborhood, as 20.5% of its residents are divorced. NeighborhoodScout's exclusive analysis found that this divorce rate is higher than in 96.2% of the neighborhoods in America.

Also, gainesway is ranked among the top 6.0% of neighborhoods for first-time home buyers to consider in the state of Kentucky according to NeighborhoodScout's exclusive analysis. Homes here are priced below median housing values in the state, yet maintain moderate appreciation rates compared to other communities. Buying into the Gainesway neighborhood is not only an accessible option but an investment opportunity for many first-time home buyers.

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 Gainesway neighborhood is a fantastic option for bicycle commuters, as 3.2% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 96.1% of the neighborhoods in America.

Diversity

Did you know that the Gainesway neighborhood has more Welsh and Belgian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.8% of this neighborhood's residents have Welsh ancestry and 0.7% have Belgian ancestry.

Gainesway is also pretty special linguistically. Significantly, 5.8% 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 99.0% 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 Gainesway neighborhood in Lexington are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 96.2% of U.S. neighborhoods. With 72.9% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 98.8% 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 Gainesway neighborhood, 37.0% 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 26.2% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (19.1%), and 17.7% in manufacturing and laborer 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 Gainesway neighborhood is English, spoken by 86.7% of households. Other important languages spoken here include Spanish, African languages and Arabic.

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 Gainesway neighborhood in Lexington, KY, residents most commonly identify their ethnicity or ancestry as German (14.2%). There are also a number of people of Irish ancestry (12.3%), and residents who report English roots (9.9%), and some of the residents are also of Mexican ancestry (5.5%), along with some French ancestry residents (4.3%), among others. In addition, 10.3% 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 Gainesway neighborhood spend between 15 and 30 minutes commuting one-way to work (60.9% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (73.0%) 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 (9.9%) and 6.5% 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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