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Real Estate Prices & Overview

Georgian Forest / Green Wood Knolls median real estate price is $554,909, which is more expensive than 69.3% of the neighborhoods in Maryland and 73.9% of the neighborhoods in the U.S.

The average rental price in Georgian Forest / Green Wood Knolls is currently $3,308, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 83.7% of the neighborhoods in Maryland.

Georgian Forest / Green Wood Knolls is an urban neighborhood (based on population density) located in Silver Spring, Maryland.

Georgian Forest / Green Wood Knolls 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 Georgian Forest / Green Wood Knolls neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

In Georgian Forest / Green Wood Knolls, the current vacancy rate is 2.3%, which is a lower rate of vacancies than 84.3% of all neighborhoods in the U.S. This means that the housing supply in Georgian Forest / Green Wood Knolls 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 Silver Spring, the Georgian Forest / Green Wood Knolls neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

Most neighborhoods have a mixture of ages of homes in them, from new to old, but this neighborhood stands out due to its concentration of residential real estate built in one time frame: from 1940 through 1969, generally considered older, well-established homes. This was a busy time in America for home construction. After the end of World War II, as GIs came home, bought newly built homes on the edges of cities with the help of the GI Bill, and began their families. This housing era generally coincides with the 'Baby Boom' generation (1945 - 1964), and many baby boomers grew up in homes built in this era. But what is so interesting about the Georgian Forest / Green Wood Knolls neighborhood, is that an incredible 94.4% of the homes here were built in this era. So when you walk its streets or drive through, this neighborhood has a look and feel that harkens to that era in American life, a very important slice of Americana.

Car Ownership

Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the Georgian Forest / Green Wood Knolls neighborhood have a highly unusual car ownership. Residents of this neighborhood must really love automobiles. NeighborhoodScout's Analysis reveals that 45.5% of the households here have four, five, or more cars. That is more cars per household than in 99.2% of the neighborhoods in the nation.

Occupations

There are more people living in the Georgian Forest / Green Wood Knolls neighborhood employed as sales and service workers (60.3%) than almost any neighborhood in the country. From fast-food service workers to major sales accounts, sales and service workers make up the largest proportion of our national employment picture. But despite that size and importance nationally, this neighborhood still stands out as unique due to the dominance of people living here who work in such occupations.

Migration / Stability

The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. What is interesting to note, is that the Georgian Forest / Green Wood Knolls neighborhood has a greater percentage of residents born in another country (54.0%) than are found in 98.4% of all U.S. neighborhoods.

Diversity

Did you know that the Georgian Forest / Green Wood Knolls neighborhood has more Brazilian and Asian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.7% of this neighborhood's residents have Brazilian ancestry and 33.8% have Asian ancestry.

Georgian Forest / Green Wood Knolls is also pretty special linguistically. Significantly, 6.1% 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 98.7% 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 Georgian Forest / Green Wood Knolls neighborhood in Silver Spring 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 88.8% of the neighborhoods in America. In addition, 4.1% 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 67.5% 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 Georgian Forest / Green Wood Knolls neighborhood, 39.7% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 21.2% of the residents employed. Other residents here are employed in executive, management, and professional occupations (20.2%), and 18.9% 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 Georgian Forest / Green Wood Knolls neighborhood is Spanish, spoken by 30.1% of households. Other important languages spoken here include English, Vietnamese, Chinese and Tagalog (the first language of the Philippine region).

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 Georgian Forest / Green Wood Knolls neighborhood in Silver Spring, MD, residents most commonly identify their ethnicity or ancestry as Asian (33.8%). There are also a number of people of South American ancestry (8.4%), and residents who report English roots (5.1%), and some of the residents are also of Italian ancestry (3.9%), along with some Sub-Saharan African ancestry residents (3.2%), among others. In addition, 54.0% 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 Georgian Forest / Green Wood Knolls neighborhood spend between 15 and 30 minutes commuting one-way to work (33.6% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (68.6%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (8.6%) and 8.0% of residents also carpool with coworkers, friends, or neighbors for their daily commute. 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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