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Real Estate Prices & Overview

Shady Grove Development Park median real estate price is $721,414, which is more expensive than 82.4% of the neighborhoods in Maryland and 82.4% of the neighborhoods in the U.S.

The average rental price in Shady Grove Development Park is currently $3,335, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 84.2% of the neighborhoods in Maryland.

Shady Grove Development Park is an urban neighborhood (based on population density) located in Rockville, Maryland.

Shady Grove Development Park 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 Shady Grove Development Park neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

Real estate vacancies in Shady Grove Development Park are 4.1%, which is lower than one will find in 73.1% of American neighborhoods. Demand for real estate in Shady Grove Development Park 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

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

Occupations

The Shady Grove Development Park neighborhood has a greater proportion of government workers living in it than 99.1% of the neighborhoods in America, according to NeighborhoodScout's exclusive analysis. This is a unique feature of this neighborhood, and one that shapes its character.

Furthermore, the Shady Grove Development Park neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 98.4% of the neighborhoods in America. In fact, 77.0% 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 Shady Grove Development Park neighborhood, analysis shows that 33.9% 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 98.5% 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.

People

If knowledge is power, then imagine the cumulative power of one neighborhood where many of the adults have earned an advanced degree, such as a Masters, law degree, medical degree, or even a Ph.D. This is certainly the case in the Shady Grove Development Park neighborhood, where 45.4% have earned an advanced degree. Compare that to the average neighborhood in America, where just 13.4% of adults have completed a post-graduate degree, and you can see why this neighborhood is a stand out. In fact, this neighborhood has a higher rate of adults with an advanced degree than 98.5% of the neighborhoods in America.

In addition, if you're nearing retirement age, or in retirement, the Shady Grove Development Park is an excellent choice for you to consider for top-quality retirement living. This neighborhood is rated by NeighborhoodScout as among the top 9.1% of retiree-friendly neighborhoods in Maryland, combining peace and quiet, safety from crime, and offering diverse housing options from which retirees can choose. Maybe it's because of these amenities that a large proportion of the residents here are college educated seniors, mixed with other age groups. For these and other reasons, NeighborhoodScout identifies this neighborhood as a top-notch place to consider if you are thinking of or planning to retire in Maryland.

Real Estate

If you like the look and ambience of new homes and newly built neighborhoods, you will love the Shady Grove Development Park neighborhood. A whopping 79.2% of the homes and other residential real estate here were built after 1999, which is a higher proportion of new homes then you will find in 97.3% of the neighborhoods in the U.S. Everything here just feels new.

In addition, if you love row houses and attached homes, you will probably really like the Shady Grove Development Park 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, 28.6% of the residential real estate here is classified as row houses and attached homes.

Diversity

Did you know that the Shady Grove Development Park neighborhood has more Russian and Brazilian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 6.2% of this neighborhood's residents have Russian ancestry and 1.6% have Brazilian ancestry.

Shady Grove Development Park is also pretty special linguistically. Significantly, 6.4% of its residents five years old and above primarily speak Korean at home. While this may seem like a small percentage, it is higher than 99.2% 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 Shady Grove Development Park neighborhood in Rockville 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 85.9% of the neighborhoods in America. With 20.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 69.1% 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 Shady Grove Development Park neighborhood, 77.0% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is government jobs, whether they are in local, state, or federal positions, with 20.8% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (11.7%), and 7.8% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

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 Shady Grove Development Park neighborhood is English, spoken by 66.0% of households. Other important languages spoken here include Korean, Chinese, Spanish and African languages.

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 Shady Grove Development Park neighborhood in Rockville, MD, residents most commonly identify their ethnicity or ancestry as Asian (22.2%). There are also a number of people of German ancestry (10.7%), and residents who report Irish roots (8.5%), and some of the residents are also of Russian ancestry (6.2%), along with some English ancestry residents (5.7%), among others. In addition, 32.5% 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 Shady Grove Development Park neighborhood spend between 15 and 30 minutes commuting one-way to work (28.6% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (51.4%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (8.9%) . 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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