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Real Estate Prices & Overview

Olney median real estate price is $163,646, which is less expensive than 78.6% of Pennsylvania neighborhoods and 84.2% of all U.S. neighborhoods.

The average rental price in Olney is currently $1,745, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 44.6% of Pennsylvania neighborhoods.

Olney is a densely urban neighborhood (based on population density) located in Philadelphia, Pennsylvania.

Olney real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) townhomes and single-family homes. Most of the residential real estate is owner occupied. Many of the residences in the Olney neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

In Olney, the current vacancy rate is 2.1%, which is a lower rate of vacancies than 86.1% of all neighborhoods in the U.S. This means that the housing supply in Olney is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

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 Olney neighborhood could be your paradise. With 84.7% 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 0.1% 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, the Olney neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 32,917 persons per square mile in the neighborhood, it is more packed with people than 97.3% of the nation's neighborhoods. Being a walkable neighborhood can help increase property values for the simple reason that people enjoy it and value it. To put it plainly, despite our love affair with the automobile, American's enjoy taking to the streets, sidewalks, paths, and courtyards of a place to get a coffee, relax, and take in the sights and sounds. And, according to NeighborhoodScout's exclusive and first quantitative walkable score index, the Olney neighborhood is one of the most walkable neighborhoods in America.

People

The Olney neighborhood is unique for having just 5.1% of adults here having earned a bachelor's degree. This is a lower rate of college graduates than NeighborhoodScout found in 97.1% of America's neighborhoods.

Modes of Transportation

Our research revealed that more commuters here take the bus to work (12.0% ride the bus) than 95.9% of all American neighborhoods. If you like the idea of leaving your car and home and hopping the bus to work, this might be a good neighborhood for you to consider.

Diversity

Did you know that the Olney neighborhood has more African and Puerto Rican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 13.3% of this neighborhood's residents have African ancestry and 16.3% have Puerto Rican ancestry.

Olney is also pretty special linguistically. Significantly, 0.4% of its residents five years old and above primarily speak Mon-Khmer, which is the dominant language of Cambodia, at home. While this may seem like a small percentage, it is higher than 97.6% of the neighborhoods in America.

Migration / Stability

Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. More residents of the Olney neighborhood live here today that also were living in this same neighborhood five years ago than is found in 96.8% of U.S. neighborhoods. This neighborhood is really made up of people who know each other, don't move often, and have lived here in this very neighborhood for quite a while.

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 Olney neighborhood in Philadelphia are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 64.1% of U.S. neighborhoods. With 52.9% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 95.0% 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 Olney neighborhood, 33.0% of the working population is employed in clerical, assistant, and tech support 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 30.4% of the residents employed. Other residents here are employed in executive, management, and professional occupations (19.8%), and 16.7% in manufacturing and laborer 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 Olney neighborhood is English, spoken by 69.6% of households. Other important languages spoken here include Spanish, Vietnamese and Italian.

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 Olney neighborhood in Philadelphia, PA, residents most commonly identify their ethnicity or ancestry as Puerto Rican (16.3%). There are also a number of people of Sub-Saharan African ancestry (13.3%), and residents who report African roots (13.3%), and some of the residents are also of Asian ancestry (6.5%), along with some Italian ancestry residents (3.9%), among others. In addition, 14.3% 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 Olney neighborhood spend between 45 minutes and one hour commuting one-way to work (39.4% of working residents), longer and tougher than most commutes in America.

Here most residents (60.9%) 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 (13.6%) and 12.0% of residents also ride the bus 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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