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Real Estate Prices & Overview

Melton Hill Park median real estate price is $731,704, which is more expensive than 94.6% of the neighborhoods in Tennessee and 82.3% of the neighborhoods in the U.S.

The average rental price in Melton Hill Park is currently $2,118, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 73.9% of the neighborhoods in Tennessee.

Melton Hill Park is a rural neighborhood (based on population density) located in Knoxville, Tennessee.

Melton Hill Park real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and mobile homes. Most of the residential real estate is owner occupied. Many of the residences in the Melton Hill Park 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.

In Melton Hill Park, the current vacancy rate is 0.8%, which is a lower rate of vacancies than 92.0% of all neighborhoods in the U.S. This means that the housing supply in Melton Hill Park is very tight compared to the demand for property here.

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 Knoxville, the Melton Hill Park neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

Astoundingly, NeighborhoodScout's research reveals that this single neighborhood has a higher concentration of married couples living here than 99.3% of all U.S. neighborhoods. Whether they have school-aged children or not, married couples are the rule in the Melton Hill Park neighborhood. If you are a married couple, you may find many people here with a similar lifestyle, and perhaps common interests. But if you are single, you might not find many other singles here.

In addition, a majority of the adults in the Melton Hill Park neighborhood are wealthy and educated executives. They own stately homes that tend to maintain high real estate appreciation rates. Their upper-level careers keep them busy, but allow them to live comfortably. If you're an executive and want to keep similar company, consider settling in this neighborhood, rated as an executive lifestyle "best choice" neighborhood for Tennessee by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 98.8% of the neighborhoods in Tennessee. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for families with school-aged children, urban sophisticates and active retirees.

Diversity

Significantly, 6.2% of its residents five years old and above primarily speak Italian at home. While this may seem like a small percentage, it is higher than 95.0% of the neighborhoods in America.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Melton Hill Park neighborhood in Knoxville are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 88.6% of the neighborhoods in America. In addition, 5.3% 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 63.6% of America'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 Melton Hill Park neighborhood, 64.1% 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 13.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (12.7%), and 9.9% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Melton Hill Park neighborhood is English, spoken by 97.2% of households. Some people also speak Italian (6.2%).

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Melton Hill Park neighborhood in Knoxville, TN, residents most commonly identify their ethnicity or ancestry as English (16.9%). There are also a number of people of German ancestry (13.4%), and residents who report Irish roots (10.9%), and some of the residents are also of French ancestry (4.6%), along with some Asian ancestry residents (3.3%), 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 Melton Hill Park neighborhood spend between 15 and 30 minutes commuting one-way to work (51.2% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (83.6%) drive alone in a private automobile to get to work. 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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