Homes for sale in Old Town Scottsdale
Old Town Scottsdale Real Estate Prices and Quick Overview
Old Town Scottsdale is a suburban neighborhood located in Scottsdale, Arizona.
The Old Town Scottsdale median real estate price is $560,000 which is more expensive than 83.8% of the neighborhoods in Arizona and 76.7% of the neighborhoods in the U.S.
The average rental price in Old Town Scottsdale is currently $2,800 per month, and the average rental cost in this neighborhood is higher than 86.8% of the neighborhoods in Arizona.
Old Town Scottsdale real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartments and condos. Most of the residential real estate is tenant occupied. Many of the apartments and condos were built after 2000, while most of the single family homes in the area are built between 1950 and 1980, hence the name “Old Town Scottsdale”.
One notable fact is that Old Town Scottsdale is 93.3% apartment and condos, which puts it on the map as having a larger proportion of multi-family housing than 98.9% of all neighborhoods in the U.S.
A relatively large percentage of the housing here is seasonally occupied at 18.2%, as the snowbirds come and enjoy the amazing weather in the winter months. This presents an opportunity for the savvy real estate investor to be able to enjoy seasonally higher rents for furnished units.
Transportation in Old Town Scottsdale
An unusually large percentage of people that live in Old Town Scottsdale work from home, with 16.7% of residents making the daily commute from the bedroom to the home office. It’s not unusual for people that work from home to be engaged in the creative or technology sectors or other business like day trading or even running a home daycare or salon.
Old Town Scottsdale has abundant access to public transportation including the bus, Olly The Trolley, Uber, Lyft, taxi’s, and even golf carts! Getting around isn’t usually an issue, even during rush hour or one of the many events that come to town.
Here a full 89.1% of residents drive to work alone in their own car, while just 5.6% walk to work. Of those that do drive 46% spend between 15 and 30 minutes driving one-way to work. That’s shorter than the average commute for most Americans.
You’ll notice that some areas of town tend to turnover a lot, while others will have residents living in the same home for 50 or more years!
Old Town Scottsdale has a greater proportion of the residents living here today that did not live here a short 5 years ago than found in 97% of neighborhoods in the United States! There has been a massive influx of people to Old Town Scottsdale from every part of the country and every corner of the world.
The residents of Old Town Scottsdale are upper-middle income wage earners. In fact, Old Town Scottsdale’s wages are higher than 63% of the neighborhoods in the U.S. We need to also consider the gap between the high wage earners and the lower income families as a full 31% of the children in Old Town Scottsdale live at or below the poverty line. This is a surprising statistic given the larger concentration of wealth in the area.
It comes as no surprise that 57.6% of the residents of Old Town Scottsdale are employed in executive, management, or professional occupations. The second largest occupational group at 25.5% is those employed in sales and service jobs, which includes everything from medical or large sales to working in fast food restaurants. The third largest employment sector (12.2%) is clerical, admin, and tech support jobs; while just 4.7% of the residents are laborers or in manufacturing.