Riverfront median real estate price is $964,006, which is more expensive than 96.9% of the neighborhoods in Tennessee and 89.4% of the neighborhoods in the U.S.
The average rental price in Riverfront is currently $2,479, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 82.6% of the neighborhoods in Tennessee.
Riverfront is a suburban neighborhood (based on population density) located in Chattanooga, Tennessee.
Riverfront 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 townhomes. Most of the residential real estate is renter occupied. Many of the residences in the Riverfront neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 2000 and the present.
Vacant apartments or homes are a major fact of life in Riverfront. The current real estate vacancy rate here is 22.4%. This is higher than the rate of vacancies in 89.6% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.
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 Chattanooga, the Riverfront neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
Of note is NeighborhoodScout's research finding that the Riverfront 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 Riverfront community truly stands out from the rest in this regard.
In addition, of particular note, 12.8% of the people in the Riverfront neighborhood currently reside in a correction facility, held due to punishment for a crime.
Also, the Riverfront neighborhood stands out within Tennessee for its college student friendly environment. NeighborhoodScout's analysis reveals that this neighborhood is home to a number of college students, is relatively walkable, and above average in safety. In combination, this makes it stand out for a good place for college students to consider. Because a number of college students live here, this neighborhood may be close to a college campus and offer certain amenities nearby geared towards the student body. While it's not an environment for everyone, ambitious scholars can enjoy seasonal excitement between semesters and school breaks, and parents can rest easy knowing that the area has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 9.1% of college-friendly places to live in TN. In addition to being an excellent choice for college students, this neighborhood is also a very good choice for young, single professionals.
Modes of Transportation
In the Riverfront neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 20.7% of residents here. This is a higher proportion of walking commuters than we found in 98.3% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Real Estate
The real estate in the Riverfront neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 90.1% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 98.2% of American neighborhoods.
In addition, the Riverfront neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 88.3% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
Furthermore, renter-occupied real estate is dominant in the Riverfront neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 84.9%, which is higher than 95.3% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.
Length of Commute
Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. Residents of the Riverfront neighborhood have the pleasure of having one of the shortest commutes to work of any neighborhood in America. 66.6% of the residents have a commute time from home to work (one way) of less than fifteen minutes. This is a higher proportion of residents enjoying a short trip to work than NeighborhoodScout found in 97.9% of U.S. neighborhoods. Less time commuting means more time for other things in life.
Diversity
Did you know that the Riverfront neighborhood has more Swiss and Iranian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.1% of this neighborhood's residents have Swiss ancestry and 1.9% have Iranian ancestry.
Migration / Stability
Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. In the Riverfront neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 98.2% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
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 Riverfront neighborhood in Chattanooga are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 54.7% 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 Riverfront neighborhood, 58.1% 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 23.7% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (9.4%), and 8.9% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the Riverfront neighborhood is English, spoken by 94.1% of households. Some people also speak Spanish (3.7%).
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 Riverfront neighborhood in Chattanooga, TN, residents most commonly identify their ethnicity or ancestry as Irish (15.5%). There are also a number of people of German ancestry (11.4%), and residents who report English roots (7.4%), and some of the residents are also of Italian ancestry (5.9%), along with some Scottish ancestry residents (5.7%), among others.
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 Riverfront neighborhood spend under 15 minutes commuting one-way to work (66.6% of working residents), one of the shortest commutes across America.
Here most residents (63.1%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (20.7%) and 5.8% of residents also carpool with coworkers, friends, or neighbors 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.
