Old Georgetown Estates / Walnut Woods median real estate price is $1,159,306, which is more expensive than 97.7% of the neighborhoods in Maryland and 95.3% of the neighborhoods in the U.S.
The average rental price in Old Georgetown Estates / Walnut Woods is currently $4,074, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 96.4% of the neighborhoods in Maryland.
Old Georgetown Estates / Walnut Woods is a suburban neighborhood (based on population density) located in Rockville, Maryland.
Old Georgetown Estates / Walnut Woods real estate is primarily made up of large (four, five or more bedroom) to medium sized (three or four bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Old Georgetown Estates / Walnut Woods neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
In Old Georgetown Estates / Walnut Woods, the current vacancy rate is 3.0%, which is a lower rate of vacancies than 81.5% of all neighborhoods in the U.S. This means that the housing supply in Old Georgetown Estates / Walnut Woods is very tight compared to the demand for property here.
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.
Wealth makes most things in life easier, and a few things harder. If you are wealthy and enjoy keeping up with the Jones', this neighborhood will interest you. In fact, according to NeighborhoodScout's research, the Old Georgetown Estates / Walnut Woods neighborhood is wealthier than 99.4% of the neighborhoods in the United States. Residents here are truly in a unique situation even when compared to other Americans, based on the sheer amount of wealth concentrated here. Even in times of economic downturn, residents of this neighborhood, as a group, suffered less and recovered more quickly. This is indeed a stand-out characteristic of this neighborhood. As one would expect in a considerably wealthy neighborhood such as this, Old Georgetown Estates / Walnut Woods also has one of the lowest ratings of child poverty in the nation.
In addition, 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 Old Georgetown Estates / Walnut Woods neighborhood, where 56.8% have earned an advanced degree. Compare that to the average neighborhood in America, where just 13.1% 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 99.7% of the neighborhoods in America.
Also, a majority of the adults in the Old Georgetown Estates / Walnut Woods neighborhood are wealthy and educated executives. They own stately homes that tend to maintain high real estate appreciation rates. Their upper-level careers keep them busy, but allow them to live comfortably. If you're an executive and want to keep similar company, consider settling in this neighborhood, rated as an executive lifestyle "best choice" neighborhood for Maryland by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 98.6% of the neighborhoods in Maryland. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for urban sophisticates and active retirees.
Executives, managers and professionals make up 78.4% of the workforce in the Old Georgetown Estates / Walnut Woods neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 98.9% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
Furthermore, the government often provides some of the more stable jobs in the economy. From local, to state, to federal government workers, the government can also be a major employer. What NeighborhoodScout's analysis revealed, is that the Old Georgetown Estates / Walnut Woods neighborhood in particular stands out when compared nationally for the proportion of its working residents who are employed by the government. At 15.2% of its workforce, this neighborhood has a greater concentration of government workers than 97.1% of U.S. neighborhoods.
One way that the Old Georgetown Estates / Walnut Woods neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 98.3% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.
In the Old Georgetown Estates / Walnut Woods neighborhood, 14.5% of people ride the train to work each day. This is a very high percentage compared to most places. In fact, NeighborhoodScout's analysis reveals that this is a higher level of train ridership than in 96.0% of the neighborhoods in America.
Did you know that the Old Georgetown Estates / Walnut Woods neighborhood has more Russian and Croatian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.5% of this neighborhood's residents have Russian ancestry and 1.0% have Croatian ancestry.
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 Old Georgetown Estates / Walnut Woods 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 99.4% of the neighborhoods in America. In addition, 0.0% 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 100.0% 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 Old Georgetown Estates / Walnut Woods neighborhood, 78.4% 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 15.2% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (12.8%), and 4.7% in clerical, assistant, and tech support occupations.
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 Old Georgetown Estates / Walnut Woods neighborhood is English, spoken by 75.4% of households. Other important languages spoken here include Spanish and Chinese.
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 Old Georgetown Estates / Walnut Woods neighborhood in Rockville, MD, residents most commonly identify their ethnicity or ancestry as German (16.7%). There are also a number of people of Irish ancestry (15.7%), and residents who report Asian roots (9.7%), and some of the residents are also of English ancestry (8.0%), along with some Sub-Saharan African ancestry residents (5.1%), among others. In addition, 24.8% of the residents of this neighborhood were born in another country.
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 Old Georgetown Estates / Walnut Woods neighborhood spend between 45 minutes and one hour commuting one-way to work (28.7% of working residents), longer and tougher than most commutes in America.
Here most residents (59.5%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (14.5%) and 5.9% 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.