Real Estate Prices and Overview
Iron Hill / Colonial Acres median real estate prices are $238,535, which is more expensive than 38.5% of the neighborhoods
in Maryland and 69.0% of the
neighborhoods in the U.S.
Average rental prices in Iron Hill / Colonial Acres are currently
$1,171, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price then 57.0% of Maryland neighborhoods.
Iron Hill / Colonial Acres is a suburban neighborhood (based on population
density) located in Elkton, Maryland. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).
Iron Hill / Colonial Acres real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and apartment complexes/high-rise apartments.
Most of the residential real estate is occupied by a mixture of owners and renters. Many of
the residences in the Iron Hill / Colonial Acres neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.
Home and apartment vacancy rates are 9.7% in
Iron Hill / Colonial Acres. NeighborhoodScout analysis shows that this rate is lower
than 47.7% of the neighborhoods in the nation, approximately
near the middle range for vacancies.
Notable & Unique Neighborhood Characteristics
When you see a neighborhood for the first time, the most important thing
is often the way it looks, like its homes and its setting. Some places look
the same, but they only reveal their true character after living in them for
a while because they contain a unique mix of occupational or cultural groups.
This neighborhood is very unique in some important ways, according to
NeighborhoodScout's exclusive exploration and analysis.
Notable & Unique: Real Estate
Do you like a coastal setting? If so, this neighborhood may be to your liking.
The Iron Hill / Colonial Acres neighborhood is on the ocean, a bay, or inlet.
Often such coastal places have amenities and recreational activities on the waterfront
that are attractive to residents and visitors alike.
The Neighbors: Income
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 Iron Hill / Colonial Acres neighborhood in Elkton are middle-income, making it a moderate income neighborhood.
NeighborhoodScout's exclusive analysis reveals that this neighborhood has
a higher income than 49.2% of the neighborhoods in America.
In addition, 8.9% 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 65.2%
of America's neighborhoods.
The Neighbors: Occupations
What we choose to do for a living reflects who we are. Each neighborhood has
a different mix of occupations represented, and together these tell you about
the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the Iron Hill / Colonial Acres neighborhood, 39.7%
of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is
clerical, assistant, and tech support occupations, with 24.9% of the residents employed.
Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants
(20.1%), and 15.4% in manufacturing and laborer occupations.
The Neighbors: 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 Iron Hill / Colonial Acres neighborhood in Elkton, MD, residents
most commonly identify their ethnicity or ancestry as German
(13.5%). There are also a number of people of Irish ancestry (12.6%) , and residents who report English roots (9.2%) , and some of the residents are also of Polish ancestry (6.7%) , along with some Italian ancestry residents (6.4%), among others.
The Neighbors: Languages
The most common language spoken in the Iron Hill / Colonial Acres
neighborhood is English, spoken by 95.8% of households.
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 Iron Hill / Colonial Acres neighborhood spend
between 30 and 45 minutes commuting one-way to work (31.1% of working
residents), which is at or a bit above the average length of a commute across all U.S.
Here most residents (87.8%) 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 (11.1%) . In a neighborhood like this, as in most of the nation, many residents find owning
a car useful for getting to work.