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Real Estate Prices & Overview

Deposit median real estate price is $413,926, which is more expensive than 84.1% of the neighborhoods in Alabama and 54.3% of the neighborhoods in the U.S.

The average rental price in Deposit is currently $1,651, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 63.8% of the neighborhoods in Alabama.

Deposit is a rural neighborhood (based on population density) located in New Market, Alabama.

Deposit real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and mobile homes. Most of the residential real estate is owner occupied. Many of the residences in the Deposit neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

Real estate vacancies in Deposit are 6.0%, which is lower than one will find in 60.0% of American neighborhoods. Demand for real estate in Deposit 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

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 New Market, the Deposit neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

According to NeighborhoodScout's exclusive analysis, Deposit is among the best neighborhoods for families in Alabama. In fact, this neighborhood is more family-friendly than 95.0% of neighborhoods in the entire state of Alabama. Its combination of top public schools, low crime rates, and owner-occupied single family homes gives this area the look and feel of a "Leave It to Beaver" episode. Many other families also live here, making it easy to socialize and develop a strong sense of community. In addition, the high number of college-educated parents influences the academic success of the local schools. Overall, you will find all of the amenities a family needs to thrive in the Deposit neighborhood. In addition to being an excellent choice for families with school-aged children, this neighborhood is also a very good choice for highly educated executives.

Diversity

Did you know that the Deposit neighborhood has more Welsh and Scottish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.4% of this neighborhood's residents have Welsh ancestry and 6.6% have Scottish ancestry.

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 Deposit neighborhood in New Market are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 78.9% of the neighborhoods in America. In addition, 2.7% 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 72.4% 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 Deposit neighborhood, 47.0% 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 20.7% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (20.2%), and 12.1% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Deposit neighborhood is English, spoken by 99.2% of households.

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 Deposit neighborhood in New Market, AL, residents most commonly identify their ethnicity or ancestry as Irish (9.0%). There are also a number of people of Scottish ancestry (6.6%), and residents who report Welsh roots (5.4%), and some of the residents are also of Mexican ancestry (5.0%), along with some English ancestry residents (4.7%), 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 Deposit neighborhood spend between 30 and 45 minutes commuting one-way to work (41.7% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (78.4%) 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 (11.7%) . 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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