Industrial Corridor, Eugene, Oregon, is one of the most accessible communities in the city. A plus to Eugene real estate is within Oregon state’s second-largest city, which showcases several railway systems, namely Burlington Northern Santa Fe Railway, Willamette and Pacific RR (Union Pacific RR).
Population and Demographics
Industrial Corridor is a home to a 2,906 population as of 2020. It has a total land area of 2.187 square miles, with 429 population density per square mile. Perhaps, the population density here is 88% lower than Eugene with 3,661 population density per square mile. Now that is a beautiful space indeed. Moreover, the median age here is 42.5, and 44% of the population are families with kids under 18 years old.
Home Value and Real Estate Market
As of August 2020, the median house value of condos and single-family homes here in Industrial Corridor is $319,137. This value is seasonally adjusted only to include the middle price-tier and remove the outliers of houses. Perhaps, Industrial Corridor house values have gone up 9.4% over the past year, and Zillow predicts that they will rise 5.4% within the next year. Moreover, the most common type of housing unit here is single-detached houses.
Designs are available for three-bedroom and two-bedroom homes. Also, 60% of the housing units here are occupied by homeowners, while 40% are rented. According to realtor.com, there is currently one home for sale here, ranging from $400,000 to $400,000.
Cost of Living and Employment
The cost of living index here in Industrial Corridor is 117, which is 2% lower than the Eugene Average and 17% higher than the national average. Other majority indexes here are the transportation with 126, Goods and services with 123, and Housing with 117. Moreover, the Industrial Corridor Housing is 17% higher than the national average.
Perhaps, the median household income here is $64,718, which is 17% higher than the national average. At the same time, the income per capita here is $28,438, which is 5% lower than the national average. Unemployment here seems quite rampant with 5.6% unemployment rate, which is 21% higher than the national average.
Industrial Corridor Community Organization
Industrial Corridor Community Organization or ICCO is a nonprofit corporation and one of the neighborhood associations officially recognized by the City of Eugene. They promote the virtues of the Industrial Corridor to promote a safe, clean, and scenic environment. Perhaps, they have undertaken a planning project to craft an overlay zone for its neighborhood. They want to encourage owners to annex the city in an orderly fashion in large blocks of contiguous land.
And create incentives for industrial development and redevelopment in the neighborhood. This is a reflection of the name of this community – industry.
Moreover, the Industrial Corridor is a great place for everyone. Residents and leaders of this neighborhood continuously put effort into making this a better place. They create projects and programs like what the ICCO undertook to improve the community. Industrial Community is indeed a great place to live.