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Real Estate Prices & Overview

Elk Acres median real estate price is $263,584, which is more expensive than 48.8% of the neighborhoods in Tennessee and 39.5% of the neighborhoods in the U.S.

The average rental price in Elk Acres is currently $2,293, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 74.3% of the neighborhoods in Tennessee.

Elk Acres is a suburban neighborhood (based on population density) located in Gallatin, Tennessee.

Elk 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 Elk 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.

In Elk Acres, the current vacancy rate is 0.8%, which is a lower rate of vacancies than 92.4% of all neighborhoods in the U.S. This means that the housing supply in Elk Acres is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

Occupations

NeighborhoodScout's exclusive research identifies the Elk Acres neighborhood as having one of the highest concentrations of people employed in manufacturing or as laborers of any neighborhood in America. In fact, despite the loss of manufacturing jobs nationally, this neighborhood has 42.8% of its working residents employed in such fields, which is a higher proportion than 95.9% of American neighborhoods.

People

The Elk Acres neighborhood stands out within Tennessee for its college student friendly environment. NeighborhoodScout's analysis reveals that this neighborhood is home to a number of college students, is relatively walkable, and above average in safety. In combination, this makes it stand out for a good place for college students to consider. Because a number of college students live here, this neighborhood may be close to a college campus and offer certain amenities nearby geared towards the student body. While it's not an environment for everyone, ambitious scholars can enjoy seasonal excitement between semesters and school breaks, and parents can rest easy knowing that the area has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 5.5% of college-friendly places to live in TN.

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 Elk Acres neighborhood in Gallatin are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 66.2% of U.S. neighborhoods. With 11.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 51.0% of U.S. neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Elk Acres neighborhood, 42.8% of the working population is employed in manufacturing and laborer 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 19.6% of the residents employed. Other residents here are employed in executive, management, and professional occupations (18.5%), and 18.2% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Elk Acres neighborhood is English, spoken by 89.4% of households.

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 Elk Acres neighborhood in Gallatin, TN, residents most commonly identify their ethnicity or ancestry as Irish (18.3%). There are also a number of people of German ancestry (13.1%), and residents who report English roots (3.9%), and some of the residents are also of Mexican ancestry (3.3%), along with some French ancestry residents (1.7%), 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 Elk Acres neighborhood spend under 15 minutes commuting one-way to work (46.4% of working residents), one of the shortest commutes across America.

Here most residents (82.5%) 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 (12.2%) . 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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