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Real Estate Prices & Overview

New Colony Village median real estate price is $513,293, which is more expensive than 58.9% of the neighborhoods in Maryland and 67.2% of the neighborhoods in the U.S.

The average rental price in New Colony Village is currently $3,771, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 90.0% of the neighborhoods in Maryland.

New Colony Village is a suburban neighborhood (based on population density) located in Elkridge, Maryland.

New Colony Village real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) townhomes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the New Colony Village neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

In New Colony Village, the current vacancy rate is 2.1%, which is a lower rate of vacancies than 85.8% of all neighborhoods in the U.S. This means that the housing supply in New Colony Village 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 Elkridge, the New Colony Village neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

If you love row houses and attached homes, you will probably really like the New Colony Village neighborhood. The ambiance, the charm, of row houses is something special. And in sheer abundance of row houses, this neighborhood truly stands out. The real estate here has a higher proportion of row houses and attached homes than nearly any neighborhood in America. In fact, 48.2% of the residential real estate here is classified as row houses and attached homes.

In addition, if you like the look and ambience of new homes and newly built neighborhoods, you will love the New Colony Village neighborhood. A whopping 89.5% of the homes and other residential real estate here were built after 1999, which is a higher proportion of new homes then you will find in 98.7% of the neighborhoods in the U.S. Everything here just feels new. In fact, the concentration of newer homes here is so great that they completely dominate the landscape. In most neighborhoods, there is a mixture of ages of residential real estate, but here it is almost completely built during one time frame: 2000 through today.

People

Of particular note, 12.0% of the people in the New Colony Village neighborhood currently reside in a correction facility, held due to punishment for a crime.

Occupations

The government often provides some of the more stable jobs in the economy. From local, to state, to federal government workers, the government can also be a major employer. What NeighborhoodScout's analysis revealed, is that the New Colony Village neighborhood in particular stands out when compared nationally for the proportion of its working residents who are employed by the government. At 13.7% of its workforce, this neighborhood has a greater concentration of government workers than 96.1% of U.S. neighborhoods.

Furthermore, executives, managers and professionals make up 70.6% of the workforce in the New Colony Village neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 95.8% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.

Diversity

Did you know that the New Colony Village neighborhood has more Sub-Saharan African and Brazilian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 17.2% of this neighborhood's residents have Sub-Saharan African ancestry and 1.1% have Brazilian ancestry.

New Colony Village is also pretty special linguistically. Significantly, 7.7% of its residents five years old and above primarily speak African languages at home. While this may seem like a small percentage, it is higher than 99.4% 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 New Colony Village neighborhood in Elkridge 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 87.9% of the neighborhoods in America. With 19.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 68.2% of U.S. neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the New Colony Village neighborhood, 70.6% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is government jobs, whether they are in local, state, or federal positions, with 13.7% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (12.9%), and 9.2% in clerical, assistant, and tech support occupations.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the New Colony Village neighborhood is English, spoken by 70.5% of households. Other important languages spoken here include African languages, Spanish and Chinese.

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 New Colony Village neighborhood in Elkridge, MD, residents most commonly identify their ethnicity or ancestry as Asian (20.4%). There are also a number of people of Sub-Saharan African ancestry (17.2%), and residents who report African roots (6.4%), and some of the residents are also of German ancestry (4.8%), along with some Irish ancestry residents (4.1%), among others. In addition, 31.2% 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 New Colony Village neighborhood spend between 15 and 30 minutes commuting one-way to work (46.3% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (69.6%) 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 (7.7%) . 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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