Monticello Park median real estate price is $1,183,412, which is more expensive than 94.6% of the neighborhoods in Virginia and 92.7% of the neighborhoods in the U.S.
The average rental price in Monticello Park is currently $2,633, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 64.9% of the neighborhoods in Virginia.
Monticello Park is an urban neighborhood (based on population density) located in Alexandria, Virginia.
Monticello Park real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Monticello Park neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.
In Monticello Park, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Monticello Park is very tight compared to the demand for property here.
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
Real Estate
With a real estate vacancy rate of only 0.0%, the Monticello Park neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.
People
If you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the Monticello Park neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 99.1% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the Monticello Park neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for highly educated executives.
In addition, some neighborhoods have residents that are more educated than others. But in this neighborhood there is a dramatic difference. NeighborhoodScout's exclusive analysis reveals that 39.0% of the adults here have earned a Masters degree, medical degree, Ph.D. or law degree. This is a higher rate of people with a graduate degree than is found in 96.7% of U.S. neighborhoods, where the average American neighborhood has 13.4% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.
Also, 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 3.4% of America's neighborhoods are wealthier than the Monticello Park 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.
Occupations
The Monticello Park neighborhood has a greater proportion of government workers living in it than 97.1% of the neighborhoods in America, according to NeighborhoodScout's exclusive analysis. This is a unique feature of this neighborhood, and one that shapes its character.
Furthermore, with 1.8% of employed workers living in the Monticello Park neighborhood active in the military, this neighborhood has the distinction of having a higher proportion of people in the military than 96.0% of American neighborhoods. This is a major shaper of the neighborhood's culture and character.
Modes of Transportation
A unique way of commuting is simply not to. And in the Monticello Park neighborhood, analysis shows that 28.6% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 96.1% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.
Diversity
Did you know that the Monticello Park neighborhood has more Scots-Irish and Greek ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.8% of this neighborhood's residents have Scots-Irish ancestry and 3.1% have Greek ancestry.
Monticello Park is also pretty special linguistically. Significantly, 5.0% of its residents five years old and above primarily speak Tagalog, which is the first language of the Philippine region, at home. While this may seem like a small percentage, it is higher than 98.0% of the neighborhoods in America.
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 Monticello Park neighborhood in Alexandria 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 96.6% of the neighborhoods in America. With 11.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 52.6% 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 Monticello Park neighborhood, 66.7% 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 16.1% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (15.7%), and 15.1% in government jobs, whether they are in local, state, or federal positions.
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 Monticello Park neighborhood is English, spoken by 70.6% of households. Other important languages spoken here include Spanish, Tagalog (the first language of the Philippine region) and Arabic.
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 Monticello Park neighborhood in Alexandria, VA, residents most commonly identify their ethnicity or ancestry as German (20.3%). There are also a number of people of English ancestry (14.4%), and residents who report Italian roots (11.4%), and some of the residents are also of Asian ancestry (10.7%), along with some Irish ancestry residents (9.1%), among others. In addition, 16.7% of the residents of this neighborhood were born in another country.
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 Monticello Park neighborhood spend between 30 and 45 minutes commuting one-way to work (34.4% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (58.2%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (5.8%) and 5.5% 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.
