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Real Estate Prices & Overview

Mars Hill / New Prospect median real estate price is $267,585, which is more expensive than 40.2% of the neighborhoods in Tennessee and 33.8% of the neighborhoods in the U.S.

The average rental price in Mars Hill / New Prospect is currently $1,382, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 77.6% of Tennessee neighborhoods.

Mars Hill / New Prospect is a rural neighborhood (based on population density) located in Lawrenceburg, Tennessee.

Mars Hill / New Prospect real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and small apartment buildings. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Mars Hill / New Prospect neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Home and apartment vacancy rates are 8.7% in Mars Hill / New Prospect. NeighborhoodScout analysis shows that this rate is lower than 44.5% of the neighborhoods in the nation, approximately near the middle range for vacancies.

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 Lawrenceburg, the Mars Hill / New Prospect neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

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 Mars Hill / New Prospect neighborhood in Lawrenceburg are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 77.9% of U.S. neighborhoods. With 37.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 87.5% of U.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 Mars Hill / New Prospect neighborhood, 33.9% 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 23.9% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (23.6%), and 18.6% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Mars Hill / New Prospect neighborhood is English, spoken by 98.3% 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 Mars Hill / New Prospect neighborhood in Lawrenceburg, TN, residents most commonly identify their ethnicity or ancestry as English (16.6%). There are also a number of people of Irish ancestry (12.6%), and residents who report German roots (5.5%), and some of the residents are also of Italian ancestry (3.5%), along with some Scottish ancestry residents (3.0%), among others.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Mars Hill / New Prospect neighborhood spend under 15 minutes commuting one-way to work (51.1% of working residents), one of the shortest commutes across America.

Here most residents (84.6%) 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 (8.7%) . 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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