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Real Estate Prices & Overview

Hamilton Acres median real estate price is $291,756, which is less expensive than 75.8% of Alaska neighborhoods and 59.3% of all U.S. neighborhoods.

The average rental price in Hamilton Acres is currently $1,982, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 62.8% of the neighborhoods in Alaska.

Hamilton Acres is a suburban neighborhood (based on population density) located in Fairbanks, Alaska.

Hamilton 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 Hamilton Acres neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Hamilton Acres has a 10.5% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 63.8% 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 Fairbanks, the Hamilton Acres neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Occupations

The Hamilton Acres neighborhood stands out nationally for having a greater proportion of its residents active in the military than 98.3% of other U.S. neighborhoods. If you come here, you will notice military people active in their jobs, going to and from work, and in plain clothes out and about the neighborhood.

Diversity

Did you know that the Hamilton Acres neighborhood has more Native American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 9.7% of this neighborhood's residents have Native American ancestry.

Hamilton Acres is also pretty special linguistically. Significantly, 3.8% of its residents five years old and above primarily speak Native American languages at home. While this may seem like a small percentage, it is higher than 99.5% of the neighborhoods in America.

The Neighbors

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 Hamilton Acres neighborhood in Fairbanks are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 66.2% of the neighborhoods in America. With 23.0% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 73.1% of U.S. neighborhoods.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the Hamilton Acres neighborhood, 37.8% 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 25.5% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (22.0%), and 14.7% in clerical, assistant, and tech support 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 Hamilton Acres neighborhood is English, spoken by 85.1% of households. Other important languages spoken here include Chinese, Native American languages, Italian and Spanish.

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 Hamilton Acres neighborhood in Fairbanks, AK, residents most commonly identify their ethnicity or ancestry as German (10.5%). There are also a number of people of Italian ancestry (9.8%), and residents who report Native American roots (9.7%), and some of the residents are also of Irish ancestry (8.6%), along with some Asian ancestry residents (8.0%), among others.

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 Hamilton Acres neighborhood spend under 15 minutes commuting one-way to work (51.5% of working residents), one of the shortest commutes across America.

Here most residents (73.1%) 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 (14.3%) . 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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