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Real Estate Prices & Overview

Hilltop Terrace / Elkridge median real estate price is $521,163, which is more expensive than 41.3% of the neighborhoods in New Jersey and 64.7% of the neighborhoods in the U.S.

The average rental price in Hilltop Terrace / Elkridge is currently $3,413, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 60.3% of the neighborhoods in New Jersey.

Hilltop Terrace / Elkridge is an urban neighborhood (based on population density) located in Red Bank, New Jersey.

Hilltop Terrace / Elkridge real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Hilltop Terrace / Elkridge neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

In Hilltop Terrace / Elkridge, the current vacancy rate is 0.7%, which is a lower rate of vacancies than 92.2% of all neighborhoods in the U.S. This means that the housing supply in Hilltop Terrace / Elkridge 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 Red Bank, the Hilltop Terrace / Elkridge neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

One of the most interesting things about the Hilltop Terrace / Elkridge neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 51.1% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 96.2% of the neighborhoods in America.

In addition, if you're nearing retirement age, or in retirement, the Hilltop Terrace / Elkridge is an excellent choice for you to consider for top-quality retirement living. This neighborhood is rated by NeighborhoodScout as among the top 5.1% of retiree-friendly neighborhoods in New Jersey, combining peace and quiet, safety from crime, and offering diverse housing options from which retirees can choose. Maybe it's because of these amenities that a large proportion of the residents here are college educated seniors, mixed with other age groups. For these and other reasons, NeighborhoodScout identifies this neighborhood as a top-notch place to consider if you are thinking of or planning to retire in New Jersey. In addition to being an excellent choice for active retirees, this neighborhood is also a very good choice for urban sophisticates and first-time home buyers.

Diversity

Did you know that the Hilltop Terrace / Elkridge neighborhood has more Croatian and Italian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.6% of this neighborhood's residents have Croatian ancestry and 23.5% have Italian ancestry.

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 Hilltop Terrace / Elkridge neighborhood in Red Bank are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 58.3% of the neighborhoods in America. In addition, 6.0% 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 61.5% 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 Hilltop Terrace / Elkridge 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 20.8% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (7.0%), and 6.8% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Hilltop Terrace / Elkridge neighborhood is English, spoken by 84.1% of households. Some people also speak Spanish (14.0%).

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 Hilltop Terrace / Elkridge neighborhood in Red Bank, NJ, residents most commonly identify their ethnicity or ancestry as Italian (23.5%). There are also a number of people of Irish ancestry (16.5%), and residents who report English roots (11.3%), and some of the residents are also of German ancestry (9.8%), along with some Mexican ancestry residents (6.5%), among others. In addition, 15.2% of the residents of this neighborhood were born in another country.

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 Hilltop Terrace / Elkridge neighborhood spend under 15 minutes commuting one-way to work (35.6% of working residents), one of the shortest commutes across America.

Here most residents (74.9%) 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 (8.3%) . 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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