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Real Estate Prices & Overview

Forty Acres median real estate price is $436,100, which is more expensive than 57.2% of the neighborhoods in Delaware and 58.4% of the neighborhoods in the U.S.

The average rental price in Forty Acres is currently $2,355, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 63.7% of the neighborhoods in Delaware.

Forty Acres is an urban neighborhood (based on population density) located in Wilmington, Delaware.

Forty Acres real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) townhomes 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 Forty Acres neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1940 and 1969.

In Forty Acres, the current vacancy rate is 1.4%, which is a lower rate of vacancies than 89.3% of all neighborhoods in the U.S. This means that the housing supply in Forty Acres 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 Wilmington, the Forty Acres neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

Of note is NeighborhoodScout's research finding that the Forty Acres 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 Forty Acres community truly stands out from the rest in this regard.

In addition, the types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 53.9%. This is a higher percent living alone than we found in 97.2% of all U.S. neighborhoods. Often residents who live alone are new arrivals to an area who are single, and often senior citizens who have lost a spouse.

Also, do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 73.2% of the adults living in the Forty Acres neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 95.1% of U.S. neighborhoods. In this way, this neighborhood truly stands out.

Real Estate

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 Forty Acres neighborhood could be your paradise. With 58.9% 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 0.8% of U.S. neighborhoods have more row houses than this neighborhood, making it one of the most interesting things about this special neighborhood.

In addition, even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The Forty Acres neighborhood is among the top 5% of American neighborhoods in terms of walkability.

Furthermore, if you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 65.3% of the residential real estate in the Forty Acres neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 97.8% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

Occupations

The Forty Acres neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 98.1% of the neighborhoods in America. In fact, 76.9% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.

Modes of Transportation

A unique way of commuting is simply not to. And in the Forty Acres neighborhood, analysis shows that 34.5% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 97.3% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.

Diversity

Did you know that the Forty Acres neighborhood has more Irish and Austrian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 37.7% of this neighborhood's residents have Irish ancestry and 1.5% have Austrian 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 Forty Acres neighborhood in Wilmington are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 62.9% 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.

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 Forty Acres neighborhood, 76.9% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 11.5% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (7.3%), and 4.3% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Forty Acres neighborhood is English, spoken by 94.5% of households. Some people also speak Polish (4.6%).

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 Forty Acres neighborhood in Wilmington, DE, residents most commonly identify their ethnicity or ancestry as Irish (37.7%). There are also a number of people of German ancestry (23.1%), and residents who report Italian roots (14.6%), and some of the residents are also of English ancestry (10.5%), along with some Polish ancestry residents (3.8%), 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 Forty Acres neighborhood spend between 15 and 30 minutes commuting one-way to work (36.9% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (59.9%) drive alone in a private automobile to get to work. 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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