What is it like to raise a family in Industrial Corridor in Eugene, Oregon?
Eugene’s Industrial Corridor is one of the city’s most accessible neighborhoods. Eugene real estate benefits from its location within Oregon’s second-largest city, home to many railway systems, including the Burlington Northern Santa Fe Railway, the Willamette, and the Pacific RR (Union Pacific RR).
Population and Demographics
As to date, the population of the Industrial Corridor is 2,906 people. It covers 2.187 square miles and has a population density of 429 people per square mile. Perhaps, this community’s population density is 885 lower than Eugene’s, with 3,661 people per square mile. That is, without a doubt, a great location.
Furthermore, the median age is 42.5, and 44% of the population comprises families with children under 18-year old.
Home Value and Real Estate Market
According to Zillow, as of February 28, 2021, the median home value of condos and single-family homes in the Industrial Corridor is $350,502. However, only the middle price tier is included in this value, eliminating the outliers of homes. Moreover, house values in the Industrial Corridor have increased 13.% in the last past year.
Furthermore, the majority of the Industrial Corridor housing development occurred in the 1990s. Perhaps, the most prevalent housing type in this neighborhood is single detached homes, which account for most residences, while the rest are primarily large apartment buildings. About 60% of the community units are owned by residents, while 40% are rented.
Cost of Living and Employment
Industrial Corridor has a cost of living index of 117, which is 2% less than the Eugene average and 17% higher than the national average. Perhaps, Transportation, Goods and services, and Housing all have majority indexes of 126, 123, and 117, respectively. Moreover, housing in the Industrial Corridor is 17% more expensive than the national average.
Furthermore, this Industrial Corridor’s median household income is $64,718, which entails 17% more than the national average. Simultaneously, the Industrial Corridor income per capita is $28,438, which is 5% lower than the national average. However, unemployment can be common in this area, with a rate of 5.6%, which is 21% higher than the national average.
Industrial Corridor Community Organization (ICCO)
The Industrial Corridor Community Organization, or ICCO, is a non-profit organization that serves as one of Eugene’s neighborhood associations. They promote the Industrial Corridor’s value to foster a safe, clean, and beautiful environment. Perhaps they have started on a planning project to create an overlay zone for the area. They want to encourage landowners to annex the city in large blocks of contiguous land systematically.
Besides that, they also create incentives for industrial development and redevelopment in the area. Perhaps, this is a reflection of the community’s name, Industry.
In conclusion, the Industrial Corridor is a fantastic location for everyone. This neighborhood’s residents and leaders are constantly working to make it a better place. They develop projects and programs, such as the ICCO’s for the best interest of their community. Industrial Community is indeed a beautiful place to call home.