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Real Estate Prices & Overview

Somerset Estates Place / Towncrest Terrace median real estate price is $673,693, which is more expensive than 79.1% of the neighborhoods in Utah and 81.3% of the neighborhoods in the U.S.

The average rental price in Somerset Estates Place / Towncrest Terrace is currently $1,856, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 48.2% of Utah neighborhoods.

Somerset Estates Place / Towncrest Terrace is an urban neighborhood (based on population density) located in Cottonwood Heights, Utah.

Somerset Estates Place / Towncrest Terrace real estate is primarily made up of large (four, five or more bedroom) to medium sized (three or four bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Somerset Estates Place / Towncrest Terrace neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Real estate vacancies in Somerset Estates Place / Towncrest Terrace are 4.6%, which is lower than one will find in 69.6% of American neighborhoods. Demand for real estate in Somerset Estates Place / Towncrest Terrace is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

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.

Real Estate

One way that the Somerset Estates Place / Towncrest Terrace neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 98.5% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.

People

A majority of the adults in the Somerset Estates Place / Towncrest Terrace 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 Utah by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 96.5% of the neighborhoods in Utah. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for urban sophisticates.

Modes of Transportation

A unique way of commuting is simply not to. And in the Somerset Estates Place / Towncrest Terrace neighborhood, analysis shows that 27.7% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 95.5% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.

Diversity

Did you know that the Somerset Estates Place / Towncrest Terrace neighborhood has more Iranian and Danish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 6.1% of this neighborhood's residents have Iranian ancestry and 3.7% have Danish ancestry.

Somerset Estates Place / Towncrest Terrace is also pretty special linguistically. Significantly, 0.6% of its residents five years old and above primarily speak Persian at home. While this may seem like a small percentage, it is higher than 95.6% 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 Somerset Estates Place / Towncrest Terrace neighborhood in Cottonwood Heights 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 89.0% of the neighborhoods in America. With 11.0% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 51.7% 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 Somerset Estates Place / Towncrest Terrace neighborhood, 65.4% 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 13.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (10.8%), and 9.9% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Somerset Estates Place / Towncrest Terrace neighborhood is English, spoken by 89.7% of households. Some people also speak Spanish (2.6%).

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 Somerset Estates Place / Towncrest Terrace neighborhood in Cottonwood Heights, UT, residents most commonly identify their ethnicity or ancestry as English (26.0%). There are also a number of people of German ancestry (11.0%), and residents who report Scottish roots (7.4%), and some of the residents are also of Irania ancestry (6.1%), along with some Irish ancestry residents (5.1%), 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 Somerset Estates Place / Towncrest Terrace 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 (61.1%) 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 (10.0%) . 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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