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Real Estate Prices & Overview

Burch Kove / Homestead Village median real estate price is $741,071, which is more expensive than 92.1% of the neighborhoods in North Carolina and 81.7% of the neighborhoods in the U.S.

The average rental price in Burch Kove / Homestead Village is currently $4,903, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 99.6% of the neighborhoods in North Carolina.

Burch Kove / Homestead Village is a suburban neighborhood (based on population density) located in Carrboro, North Carolina.

Burch Kove / Homestead Village real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Burch Kove / Homestead Village neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.

Home and apartment vacancy rates are 8.1% in Burch Kove / Homestead Village. NeighborhoodScout analysis shows that this rate is lower than 47.3% of the neighborhoods in the nation, approximately near the middle range for vacancies.

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 Burch Kove / Homestead Village 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 Burch Kove / Homestead Village community truly stands out from the rest in this regard.

In addition, if knowledge is power, then imagine the cumulative power of one neighborhood where many of the adults have earned an advanced degree, such as a Masters, law degree, medical degree, or even a Ph.D. This is certainly the case in the Burch Kove / Homestead Village neighborhood, where 55.2% have earned an advanced degree. Compare that to the average neighborhood in America, where just 13.4% of adults have completed a post-graduate degree, and you can see why this neighborhood is a stand out. In fact, this neighborhood has a higher rate of adults with an advanced degree than 99.6% of the neighborhoods in America.

Also, astoundingly, NeighborhoodScout's research reveals that this single neighborhood has a higher concentration of married couples living here than 99.2% of all U.S. neighborhoods. Whether they have school-aged children or not, married couples are the rule in the Burch Kove / Homestead Village 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.

Finally, according to NeighborhoodScout's exclusive analysis, Burch Kove / Homestead Village is among the best neighborhoods for families in North Carolina. In fact, this neighborhood is more family-friendly than 97.4% of neighborhoods in the entire state of North Carolina. Its combination of top public schools, low crime rates, and owner-occupied single family homes gives this area the look and feel of a "Leave It to Beaver" episode. Many other families also live here, making it easy to socialize and develop a strong sense of community. In addition, the high number of college-educated parents influences the academic success of the local schools. Overall, you will find all of the amenities a family needs to thrive in the Burch Kove / Homestead Village neighborhood. In addition to being an excellent choice for families with school-aged children, this neighborhood is also a very good choice for urban sophisticates and highly educated executives.

Occupations

The Burch Kove / Homestead Village neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 99.6% of the neighborhoods in America. In fact, 83.2% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.

Real Estate

Most neighborhoods are composed of a mixture of ages of homes, but the Burch Kove / Homestead Village stands out as rather unique in having nearly all of its residential real estate built in one time period, namely between 1970 and 1999, generally considered to be established, but not old housing. What you'll sense when you look around or drive the streets of this neighborhood is that many of the residences look the same because of this similarity of age. In fact, 80.5% of the residential real estate here was built in this one time period.

Diversity

Did you know that the Burch Kove / Homestead Village neighborhood has more Scots-Irish and Iranian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.5% of this neighborhood's residents have Scots-Irish ancestry and 1.7% have Iranian ancestry.

Burch Kove / Homestead Village is also pretty special linguistically. Significantly, 1.2% of its residents five years old and above primarily speak Japanese at home. While this may seem like a small percentage, it is higher than 98.0% 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 Burch Kove / Homestead Village neighborhood in Carrboro 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 94.3% 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 Burch Kove / Homestead Village neighborhood, 83.2% 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 12.0% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (5.7%), and 4.3% 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 Burch Kove / Homestead Village neighborhood is English, spoken by 82.3% of households. Other important languages spoken here include Korean and Spanish.

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 Burch Kove / Homestead Village neighborhood in Carrboro, NC, residents most commonly identify their ethnicity or ancestry as English (20.2%). There are also a number of people of German ancestry (14.8%), and residents who report Irish roots (10.5%), and some of the residents are also of Asian ancestry (10.0%), along with some Italian ancestry residents (7.0%), among others. In addition, 13.4% of the residents of this neighborhood were born in another country.

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 Burch Kove / Homestead Village neighborhood spend between 15 and 30 minutes commuting one-way to work (41.5% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (61.8%) 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 (7.5%) . 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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