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Real Estate Prices & Overview

Parkridge Estates median real estate price is $625,247, which is more expensive than 75.1% of the neighborhoods in Maryland and 78.3% of the neighborhoods in the U.S.

The average rental price in Parkridge Estates is currently $2,294, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 55.5% of Maryland neighborhoods.

Parkridge Estates is a suburban neighborhood (based on population density) located in Gaithersburg, Maryland.

Parkridge Estates 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 renter occupied. Many of the residences in the Parkridge Estates 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.

In Parkridge Estates, the current vacancy rate is 2.5%, which is a lower rate of vacancies than 84.6% of all neighborhoods in the U.S. This means that the housing supply in Parkridge Estates 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 Gaithersburg, the Parkridge Estates neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

If you love row houses and attached homes, you will probably really like the Parkridge Estates neighborhood. The ambiance, the charm, of row houses is something special. And in sheer abundance of row houses, this neighborhood truly stands out. The real estate here has a higher proportion of row houses and attached homes than nearly any neighborhood in America. In fact, 33.4% of the residential real estate here is classified as row houses and attached homes.

Diversity

Did you know that the Parkridge Estates neighborhood has more Iranian and Asian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 0.9% of this neighborhood's residents have Iranian ancestry and 24.1% have Asian ancestry.

Parkridge Estates is also pretty special linguistically. Significantly, 5.7% of its residents five years old and above primarily speak African languages at home. While this may seem like a small percentage, it is higher than 98.9% 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 Parkridge Estates neighborhood in Gaithersburg are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 68.1% of the neighborhoods in America. With 16.8% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 62.7% of U.S. neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Parkridge Estates neighborhood, 50.5% 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 18.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (16.9%), and 14.3% 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 Parkridge Estates neighborhood is English, spoken by 47.0% of households. Other important languages spoken here include Spanish, African languages, Chinese and Langs. of India.

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the Parkridge Estates neighborhood in Gaithersburg, MD, residents most commonly identify their ethnicity or ancestry as Asian (24.1%). There are also a number of people of Sub-Saharan African ancestry (7.7%), and residents who report South American roots (4.5%), and some of the residents are also of African ancestry (3.1%), along with some German ancestry residents (2.8%), among others. In addition, 35.7% 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 Parkridge Estates neighborhood spend between 45 minutes and one hour commuting one-way to work (31.7% of working residents), longer and tougher than most commutes in America.

Here most residents (59.3%) 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 (9.8%) and 6.6% 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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