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Real Estate Prices & Overview

Hyde Park median real estate price is $379,551, which is less expensive than 66.7% of Maryland neighborhoods and 49.6% of all U.S. neighborhoods.

The average rental price in Hyde Park is currently $2,944, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 71.0% of the neighborhoods in Maryland.

Hyde Park is a suburban neighborhood (based on population density) located in Essex, Maryland. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).

Hyde 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 townhomes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Hyde 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.

Hyde Park has a 10.8% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 67.3% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.

Notable & Unique Neighborhood Characteristics

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

Real Estate

Do you like a coastal setting? If so, this neighborhood may be to your liking. The Hyde Park neighborhood is on the ocean, a bay, or inlet. Often such coastal places have amenities and recreational activities on the waterfront that are attractive to residents and visitors alike. In addition to being coastal, Hyde Park is a very nautical neighborhood, meaning that it is somewhat historic, walkable, densely populated and on the water. This gives the neighborhood a very nautical feel, with some seaside and shipping feel, which some may really enjoy the sights and sounds of.

In addition, many people dream of living along a street lined with row houses or other attached homes. Such places do often have an abundance of charm. If you are one of these people, the Hyde Park neighborhood could be your paradise. With 30.3% of the homes and real estate here classified as rowhouses or other attached homes, this neighborhood brims with opportunity to find the right place for you. Only 3.3% of U.S. neighborhoods have more row houses than this neighborhood, making it one of the most interesting things about this special neighborhood.

People

Of note is NeighborhoodScout's research finding that the Hyde Park neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Hyde Park community truly stands out from the rest in this regard.

Diversity

Did you know that the Hyde Park neighborhood has more Lithuanian and Greek ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.0% of this neighborhood's residents have Lithuanian ancestry and 1.9% have Greek ancestry.

Hyde Park is also pretty special linguistically. Significantly, 4.5% of its residents five years old and above primarily speak Vietnamese at home. While this may seem like a small percentage, it is higher than 98.0% 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 Hyde Park neighborhood in Essex 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 89.9% of the neighborhoods in America. In addition, 0.0% 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 100.0% of America'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 Hyde Park neighborhood, 34.3% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 24.8% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (24.6%), and 16.3% 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 Hyde Park neighborhood is English, spoken by 81.8% of households. Other important languages spoken here include Spanish, Vietnamese and Chinese.

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 Hyde Park neighborhood in Essex, MD, residents most commonly identify their ethnicity or ancestry as German (19.2%). There are also a number of people of Irish ancestry (9.5%), and residents who report English roots (8.4%), and some of the residents are also of Polish ancestry (8.1%), along with some Sub-Saharan African ancestry residents (7.3%), among others.

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 Hyde Park neighborhood spend between 30 and 45 minutes commuting one-way to work (31.2% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (72.5%) 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 (12.1%) . 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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