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Real Estate Prices & Overview

Elsmere median real estate price is $348,781, which is less expensive than 84.8% of Colorado neighborhoods and 49.5% of all U.S. neighborhoods.

The average rental price in Elsmere is currently $1,630, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 87.3% of Colorado neighborhoods.

Elsmere is a suburban neighborhood (based on population density) located in Colorado Springs, Colorado.

Elsmere real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and small apartment buildings. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Elsmere neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Elsmere has a 11.1% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 66.1% 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

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.

Occupations

The Elsmere neighborhood stands out nationally for having a greater proportion of its residents active in the military than 96.3% 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.

Real Estate

Most neighborhoods are composed of a mixture of ages of homes, but the Elsmere stands out as rather unique in having nearly all of its residential real estate built in one time period, namely between 1970 and 1999, generally considered to be established, but not old housing. What you'll sense when you look around or drive the streets of this neighborhood is that many of the residences look the same because of this similarity of age. In fact, 80.7% of the residential real estate here was built in this one time period.

Diversity

Did you know that the Elsmere neighborhood has more Romanian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 0.9% of this neighborhood's residents have Romanian ancestry.

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 Elsmere neighborhood in Colorado Springs are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 73.8% of U.S. neighborhoods. With 17.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 64.8% 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 Elsmere neighborhood, 30.7% 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 27.7% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (24.5%), and 17.1% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Elsmere neighborhood is English, spoken by 89.0% of households. Some people also speak Spanish (8.5%).

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the Elsmere neighborhood in Colorado Springs, CO, residents most commonly identify their ethnicity or ancestry as Mexican (21.0%). There are also a number of people of German ancestry (19.6%), and residents who report Italian roots (10.6%), and some of the residents are also of Irish ancestry (8.0%), along with some English ancestry residents (7.3%), among others.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Elsmere neighborhood spend between 15 and 30 minutes commuting one-way to work (47.8% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (75.4%) 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 (15.9%) . 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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