The Home Buyer's Korner

Information presented should be used for educational purposes only.

January 11th, 2016

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Home Buyer’s Korner

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Belmont U/21st Ave S Neighborhood

Nashville, Tennessee

18th Avenue South Nashville TN

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Belmont U/21st Ave S is an urban neighborhood located in Nashville, Tennessee, and just due east of Vanderbilt university campus. The median real estate price in the Belmont U/21st Ave S neighborhood is $281,321, which is more expensive than 92.8 percent of the neighborhoods in Tennessee and 71.2 percent of the neighborhoods in the U.S.

The average rental price in Belmont U/21st Ave S is currently $1,345, and the average rental cost in this neighborhood is higher than 92.6 percent of the neighborhoods in Tennessee. 

Belmont U/21st Ave S real estate is primarily made up of small studio to two bedroom to medium sized three or four bedroom condominiums and townhomes, and single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Belmont U/21st Ave S neighborhood are established, but not old, having been built between 1970 and 1999, with a number of residences were also built between 2000 and present day.

Vacant homes are a major fact of life in Belmont U/21st Ave S., and the current real estate vacancy rate here is 19.8 percent. This is higher than the rate of vacancies in 84.5 percent of all U.S. neighborhoods. This can sometimes be the case in neighborhoods dominated a large percentage of residents attending college full time, should be further explored with your real estate agent.

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.

An extraordinary 64.9 percent of the residents of the Belmont U/21st Ave S neighborhood are currently enrolled in college. This is such a large part of life in this neighborhood that the neighborhood changes a great deal with the change of semesters and is far quieter during the summer when many students are away.

One of the really interesting characteristics about the Belmont U/21st Ave S neighborhood is that it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you’ll notice that the excitement here fluctuates with the college seasons. Despite the excitement, however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 1.4 percent of college-friendly places to live in the state of Tennessee.

In the Belmont U/21st Ave S neighborhood, 17.9 percent of residents need only walk from the bedroom to their home office. This may not seem like a large number, but this is a higher percentage of people working from home than 99.2 percent of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy. Other times, people may be engaged in other businesses like trading stocks from home, or running a small home business.

More people in Belmont U/21st Ave S choose to walk to work each day at 23.2 percent, than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.

In the Belmont U/21st Ave S neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.1 percent of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

One of the really unique and interesting things about the look and setting of the Belmont U/21st Ave S neighborhood is that it is almost entirely dominated by apartment complexes, with 87.3 percent of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 98.2 percent of all neighborhoods in America.

Furthermore, the Belmont U/21st Ave S 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 90.4 percent 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.

Also of note, renter-occupied real estate is dominant in the Belmont U / 21st Ave S neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 90.0%, which is higher than 97.2% 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.

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.

Your future neighbors in the Belmont U/21st Ave S neighborhood of Nashville earn a moderate income, as many are focused on their academic careers. 

In the Belmont U/21st Ave S neighborhood, 55.4 percent 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 29.3 percent of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations at 13.3 percent.

Each neighborhood 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 Belmont U/21st Ave S neighborhood of Nashville, TN, residents most commonly identify their ethnicity or ancestry as German at 10.3 percent. There are also a number of people of Irish ancestry at 8.8 percent, and residents who report Italian roots at 7.2 percent. Some of the residents are also of English ancestry at 7.1 percent, along with some Asian ancestry residents at 6.3 percent, 1.8 percent of this neighborhood’s residents have British ancestry, and equally 1.8 percent have Greek ancestry, among others.

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 Belmont U/21st Ave S neighborhood is English, spoken by 87.7 percent of households. Other important languages spoken here include 0.5 percent of its residents who speak Native American languages, followed by Spanish and Chinese.

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TENNESSEE HOME OWNERSHIP TOOLS

Your Home Purchasing or Refinancing & Renovation Tools,

Home Improvements, Home Renovations,

Mortgage Loan Officers, Real Estate Agents & General Contractors

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Here are just a few of the home improvements

you might consider with any Home Renovation loan

Repair or replace a roof

Install, replace or repair gutters and downspouts

Replace, repair or upgrade your HVAC system

Repair or replace plumbing

Install, repair or replace electrical systems

Kitchen remodeling (including the purchase and installation of appliances)

Bathroom remodeling, Full interior painting, Total exterior painting

Repair or replace a septic system and/or well

Disability access (wheelchair ramp, elevator, widen doorways)

Build, repair or replace a deck, patio or porch

Basement waterproofing and finishing

Abatement/Stabilization of lead-based paint hazards

Replace old windows, Room additions, Finish an attic

Add a second story to your home

Replace a termite damaged sill plate (a water-damaged sill plate also)

Possible landscaping items such as correction of grading & drainage problems,

tree removal, repair a driveway and sidewalks

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