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Real Estate Prices & Overview

Colony / Town Center median real estate price is $218,795, which is less expensive than 85.3% of Virginia neighborhoods and 75.4% of all U.S. neighborhoods.

The average rental price in Colony / Town Center is currently $1,473, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 84.5% of Virginia neighborhoods.

Colony / Town Center is a rural neighborhood (based on population density) located in Madison Heights, Virginia.

Colony / Town Center real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and mobile homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Colony / Town Center neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

Vacant apartments or homes are a major fact of life in Colony / Town Center. The current real estate vacancy rate here is 21.8%. This is higher than the rate of vacancies in 89.0% 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.

Notable & Unique Neighborhood Characteristics

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.

People

In a nation where 1 out of every 4 children lives in poverty, the Colony / Town Center neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

Diversity

Did you know that the Colony / Town Center neighborhood has more Iranian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.9% of this neighborhood's residents have Iranian ancestry.

Colony / Town Center is also pretty special linguistically. Significantly, 1.0% of its residents five years old and above primarily speak Persian at home. While this may seem like a small percentage, it is higher than 97.8% 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 Colony / Town Center neighborhood in Madison Heights are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 75.1% of U.S. neighborhoods. 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.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Colony / Town Center neighborhood, 32.9% of the working population is employed in clerical, assistant, and tech support occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 31.4% of the residents employed. Other residents here are employed in executive, management, and professional occupations (29.4%), and 6.3% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

Languages

The most common language spoken in the Colony / Town Center neighborhood is English, spoken by 97.1% of households. Some people also speak Italian (5.2%).

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 Colony / Town Center neighborhood in Madison Heights, VA, residents most commonly identify their ethnicity or ancestry as Irish (9.4%). There are also a number of people of English ancestry (4.1%), and residents who report Mexican roots (3.7%), and some of the residents are also of German ancestry (3.1%), along with some Irania ancestry residents (1.9%), 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 Colony / Town Center neighborhood spend between 15 and 30 minutes commuting one-way to work (53.3% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (69.7%) 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 (15.7%) . 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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