Old Georgetown Estates / Walnut Woods median real estate price is $1,318,860, which is more expensive than 97.2% of the neighborhoods in Maryland and 94.4% of the neighborhoods in the U.S.
The average rental price in Old Georgetown Estates / Walnut Woods is currently $4,763, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 96.6% 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.
Real estate vacancies in Old Georgetown Estates / Walnut Woods are 4.2%, which is lower than one will find in 71.1% of American neighborhoods. Demand for real estate in Old Georgetown Estates / Walnut Woods 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.
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 Rockville, the Old Georgetown Estates / Walnut Woods neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
If you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 1.2% of America's neighborhoods are wealthier than the Old Georgetown Estates / Walnut Woods neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe. 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, the rate of college educated adults in the Old Georgetown Estates / Walnut Woods neighborhood is a unique characteristic of the neighborhood. 87.9% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 35.0% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 99.5% of all U.S. neighborhoods.
Also, astoundingly, NeighborhoodScout's research reveals that this single neighborhood has a higher concentration of married couples living here than 96.9% of all U.S. neighborhoods. Whether they have school-aged children or not, married couples are the rule in the Old Georgetown Estates / Walnut Woods neighborhood. If you are a married couple, you may find many people here with a similar lifestyle, and perhaps common interests. But if you are single, you might not find many other singles here.
Finally, 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 96.7% 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 82.6% 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 99.4% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
Furthermore, the Old Georgetown Estates / Walnut Woods neighborhood has a greater proportion of government workers living in it than 96.5% 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.
In the Old Georgetown Estates / Walnut Woods neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 36.6% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 98.1% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.
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 97.7% 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.
Did you know that the Old Georgetown Estates / Walnut Woods neighborhood has more Russian and Eastern European ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.2% of this neighborhood's residents have Russian ancestry and 2.4% have Eastern European ancestry.
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 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 98.8% 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.
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 Old Georgetown Estates / Walnut Woods neighborhood, 82.6% 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 14.2% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (10.9%), and 3.7% 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 Old Georgetown Estates / Walnut Woods neighborhood is English, spoken by 73.9% of households. Other important languages spoken here include Spanish and Chinese.
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 Old Georgetown Estates / Walnut Woods neighborhood in Rockville, MD, residents most commonly identify their ethnicity or ancestry as German (15.5%). There are also a number of people of Irish ancestry (13.4%), and residents who report Asian roots (12.8%), and some of the residents are also of English ancestry (10.8%), along with some Sub-Saharan African ancestry residents (5.9%), among others. In addition, 24.9% of the residents of this neighborhood were born in another country.
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 Old Georgetown Estates / Walnut Woods neighborhood spend between 15 and 30 minutes commuting one-way to work (31.9% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (52.0%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (6.3%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
