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Real Estate Prices & Overview

Elmwood median real estate price is $225,451, which is less expensive than 64.5% of Texas neighborhoods and 73.9% of all U.S. neighborhoods.

The average rental price in Elmwood is currently $2,280, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 76.2% of the neighborhoods in Texas.

Elmwood is an urban neighborhood (based on population density) located in Dallas, Texas.

Elmwood real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Elmwood neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

In Elmwood, the current vacancy rate is 1.1%, which is a lower rate of vacancies than 91.1% of all neighborhoods in the U.S. This means that the housing supply in Elmwood 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 Dallas, the Elmwood neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

The Elmwood neighborhood has earned the amazing distinction of having one of the highest rates of detached, single-family homes of any neighborhood in the U.S. With 97.9% of the residential real estate here made up of free-standing single-family homes, there is a greater proportion of single-family homes here than in 96.1% of all neighborhoods in America.

Diversity

Did you know that the Elmwood neighborhood has more Mexican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 66.1% of this neighborhood's residents have Mexican ancestry.

Elmwood is also pretty special linguistically. Significantly, 58.5% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 95.4% of all U.S. neighborhoods.

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 Elmwood neighborhood in Dallas are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 50.6% of the neighborhoods in America. In addition, 1.6% 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 76.8% of America'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 Elmwood neighborhood, 40.5% of the working population is employed in manufacturing and laborer occupations. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 24.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (18.4%), and 16.8% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

Languages

The most common language spoken in the Elmwood neighborhood is Spanish, spoken by 58.5% of households. Some people also speak English (41.0%).

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 Elmwood neighborhood in Dallas, TX, residents most commonly identify their ethnicity or ancestry as Mexican (66.1%). There are also a number of people of Irish ancestry (3.0%), and residents who report German roots (2.9%), and some of the residents are also of English ancestry (2.8%), along with some Italian ancestry residents (2.2%), among others. In addition, 29.1% 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 Elmwood neighborhood spend between 15 and 30 minutes commuting one-way to work (37.9% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (86.6%) 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 (7.6%) . 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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