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Real Estate Prices & Overview

Audubon Square / Olde Towne median real estate price is $434,128, which is more expensive than 48.2% of the neighborhoods in Maryland and 62.0% of the neighborhoods in the U.S.

The average rental price in Audubon Square / Olde Towne is currently $2,609, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 41.7% of Maryland neighborhoods.

Audubon Square / Olde Towne is a densely urban neighborhood (based on population density) located in Gaithersburg, Maryland.

Audubon Square / Olde Towne real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and townhomes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Audubon Square / Olde Towne neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.

Real estate vacancies in Audubon Square / Olde Towne are 5.3%, which is lower than one will find in 64.1% of American neighborhoods. Demand for real estate in Audubon Square / Olde Towne 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 Gaithersburg, the Audubon Square / Olde Towne neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

The real estate in the Audubon Square / Olde Towne neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 85.0% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 97.4% of American neighborhoods.

In addition, if you like crowded places, then you will probably enjoy the the Audubon Square / Olde Towne neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 95.4% of neighborhoods in the U.S., with 22,045 people per square mile living here.

Migration / Stability

Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Audubon Square / Olde Towne neighborhood. What is interesting to note, is that the Audubon Square / Olde Towne neighborhood has a greater percentage of residents born in another country (47.8%) than are found in 97.1% of all U.S. neighborhoods.

Diversity

Did you know that the Audubon Square / Olde Towne neighborhood has more Jamaican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.6% of this neighborhood's residents have Jamaican ancestry.

Audubon Square / Olde Towne is also pretty special linguistically. Significantly, 3.3% of its residents five years old and above primarily speak French at home. While this may seem like a small percentage, it is higher than 95.9% of the neighborhoods in America.

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 Audubon Square / Olde Towne neighborhood in Gaithersburg are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 50.5% of the neighborhoods in America. In addition, 9.4% 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 52.1% 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 Audubon Square / Olde Towne neighborhood, 33.5% 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 29.7% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (24.9%), and 12.0% 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 Audubon Square / Olde Towne neighborhood is Spanish, spoken by 51.7% of households. Other important languages spoken here include English and French.

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 Audubon Square / Olde Towne neighborhood in Gaithersburg, MD, residents most commonly identify their ethnicity or ancestry as Asian (5.5%). There are also a number of people of Sub-Saharan African ancestry (5.4%), and residents who report Mexican roots (5.2%), and some of the residents are also of Jamaican ancestry (3.6%), along with some African ancestry residents (2.9%), among others. In addition, 47.8% of the residents of this neighborhood were born in another country.

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 Audubon Square / Olde Towne neighborhood spend between 15 and 30 minutes commuting one-way to work (38.3% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (59.0%) 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 (19.3%) and 8.3% 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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