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Real Estate Prices & Overview

Rio Grande median real estate price is $449,305, which is less expensive than 72.3% of Utah neighborhoods and 40.0% of all U.S. neighborhoods.

The average rental price in Rio Grande is currently $1,843, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 62.9% of Utah neighborhoods.

Rio Grande is an urban neighborhood (based on population density) located in Salt Lake City, Utah.

Rio Grande real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Rio Grande neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1940 and 1969.

Rio Grande has a 14.7% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 78.3% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.

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 Salt Lake City, the Rio Grande neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

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

In addition, one of the most interesting things about the Rio Grande neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 67.9% 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 99.6% of the neighborhoods in America.

Real Estate

The Rio Grande 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 98.1% 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.

In addition, the real estate in the Rio Grande neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 95.3% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 99.0% of American neighborhoods.

Furthermore, renter-occupied real estate is dominant in the Rio Grande neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 88.8%, which is higher than 96.5% 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.

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 5.7% of residents in the Rio Grande neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 98.7% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.

Also, in the Rio Grande neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 12.1% of residents here. This is a higher proportion of walking commuters than we found in 96.1% of American neighborhoods. Get ready to put on your walking shoes if you move here!

Migration / Stability

Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. In the Rio Grande neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 96.2% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Rio Grande neighborhood in Salt Lake City are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 82.6% 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 Rio Grande neighborhood, 63.3% 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 18.2% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (11.8%), and 6.2% in manufacturing and laborer 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 Rio Grande neighborhood is English, spoken by 67.8% of households. Other important languages spoken here include Spanish, Langs. of India and Chinese.

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 Rio Grande neighborhood in Salt Lake City, UT, residents most commonly identify their ethnicity or ancestry as Mexican (23.1%). There are also a number of people of English ancestry (12.1%), and residents who report Asian roots (8.4%), and some of the residents are also of German ancestry (8.0%), along with some Irish ancestry residents (6.5%), among others. In addition, 25.9% 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 Rio Grande neighborhood spend between 15 and 30 minutes commuting one-way to work (44.0% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (43.2%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (12.1%) and 8.4% of residents also take the train 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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