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Real Estate Prices & Overview

Richmond Annex median real estate price is $1,036,819, which is more expensive than 61.8% of the neighborhoods in California and 90.7% of the neighborhoods in the U.S.

The average rental price in Richmond Annex is currently $2,958, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 58.8% of California neighborhoods.

Richmond Annex is an urban neighborhood (based on population density) located in Richmond, California.

Richmond Annex real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and small apartment buildings. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Richmond Annex neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

In Richmond Annex, 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 Richmond Annex is very tight compared to the demand for property here.

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.

Real Estate

This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the Richmond Annex neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.

People

For many reasons, Richmond Annex is rated by NeighborhoodScout as one of the top 2.2% of ideal neighborhoods for first-time home buyers in the state of California. Homes here are priced below median housing values in the state, yet the neighborhood has a track record according to NeighborhoodScout's exclusive neighborhood home appreciation rates of above average real estate appreciation over the last five years compared to other CA neighborhoods, protecting your investment in your first home, while simultaneously making it less risky for your lender. Not only does this neighborhood stand out for combining price and home value stability or increases, it also is a neighborhood with a high quality resident population according exclusive data, meaning this is likely a good place to buy, live, and enjoy. While many first time home buyers focus purely on low cost and convenient location, which can risk your investment in your first home and put you in a less than desirable neighborhood, this neighborhood is a true standout for a lot of reasons, and definitely worth a look if you are a first time home buyer. In addition to being an excellent choice for first-time home buyers, this neighborhood is also a very good choice for urban sophisticates.

Modes of Transportation

In the Richmond Annex neighborhood, 10.9% of people ride the train to work each day. This is a very high percentage compared to most places. In fact, NeighborhoodScout's analysis reveals that this is a higher level of train ridership than in 95.4% of the neighborhoods in America.

Diversity

Did you know that the Richmond Annex neighborhood has more Brazilian and Arab ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.3% of this neighborhood's residents have Brazilian ancestry and 10.5% have Arab ancestry.

Richmond Annex is also pretty special linguistically. Significantly, 2.6% 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 99.3% 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 Richmond Annex neighborhood in Richmond are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 79.6% of the neighborhoods in America. With 23.0% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 73.1% of U.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 Richmond Annex neighborhood, 54.8% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 19.1% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (17.8%), and 8.3% 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 Richmond Annex neighborhood is English, spoken by 55.0% of households. Other important languages spoken here include Spanish, Portuguese, Chinese and Japanese.

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 Richmond Annex neighborhood in Richmond, CA, residents most commonly identify their ethnicity or ancestry as Asian (18.4%). There are also a number of people of English ancestry (11.2%), and residents who report Arab roots (10.5%), and some of the residents are also of Irish ancestry (6.8%), along with some Mexican ancestry residents (6.3%), among others. In addition, 31.7% 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 Richmond Annex neighborhood spend between 30 and 45 minutes commuting one-way to work (28.6% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (53.7%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (10.9%) and 8.6% 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.


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