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Real Estate Prices & Overview

Nob Hill median real estate price is $404,757, which is more expensive than 74.7% of the neighborhoods in New Mexico and 53.3% of the neighborhoods in the U.S.

The average rental price in Nob Hill is currently $1,715, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 62.3% of the neighborhoods in New Mexico.

Nob Hill is an urban neighborhood (based on population density) located in Albuquerque, New Mexico.

Nob Hill 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 renter occupied. Many of the residences in the Nob Hill neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

In Nob Hill, the current vacancy rate is 1.8%, which is a lower rate of vacancies than 86.9% of all neighborhoods in the U.S. This means that the housing supply in Nob Hill is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

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 Albuquerque, the Nob Hill neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

One of the most interesting things about the Nob Hill neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 52.9% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 96.8% of the neighborhoods in America.

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 35.9% 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 95.2% of U.S. neighborhoods, where the average American neighborhood has 13.7% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.

Modes of Transportation

If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 2.8% of residents in the Nob Hill neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 95.4% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.

Diversity

Did you know that the Nob Hill neighborhood has more Iranian and Native American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.8% of this neighborhood's residents have Iranian ancestry and 10.5% have Native American ancestry.

Nob Hill is also pretty special linguistically. Significantly, 2.0% of its residents five years old and above primarily speak Native American languages at home. While this may seem like a small percentage, it is higher than 99.0% 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 Nob Hill neighborhood in Albuquerque are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 74.4% of U.S. neighborhoods. With 19.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 68.8% 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 Nob Hill neighborhood, 67.2% 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 21.5% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (6.5%), and 4.7% 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 Nob Hill neighborhood is English, spoken by 80.7% of households. Other important languages spoken here include Spanish and Native American languages.

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 Nob Hill neighborhood in Albuquerque, NM, residents most commonly identify their ethnicity or ancestry as Irish (17.7%). There are also a number of people of German ancestry (16.0%), and residents who report English roots (14.6%), and some of the residents are also of Mexican ancestry (12.4%), along with some Native American ancestry residents (10.5%), among others.

Getting to Work

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 Nob Hill neighborhood spend under 15 minutes commuting one-way to work (42.8% of working residents), one of the shortest commutes across America.

Here most residents (71.0%) 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 (14.2%) . 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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