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Real Estate Prices & Overview

Olney median real estate price is $163,646, which is less expensive than 78.6% of Pennsylvania neighborhoods and 84.2% of all U.S. neighborhoods.

The average rental price in Olney is currently $1,745, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 44.6% of Pennsylvania neighborhoods.

Olney is a densely urban neighborhood (based on population density) located in Philadelphia, Pennsylvania.

Olney real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) townhomes and single-family homes. Most of the residential real estate is owner occupied. Many of the residences in the Olney neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

In Olney, the current vacancy rate is 2.1%, which is a lower rate of vacancies than 86.1% of all neighborhoods in the U.S. This means that the housing supply in Olney is very tight compared to the demand for property here.

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.

Real Estate

If you love row houses and attached homes, you will probably really like the Olney 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, 84.7% of the residential real estate here is classified as row houses and attached homes.

In addition, the Olney neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 32,917 persons per square mile in the neighborhood, it is more packed with people than 97.3% of the nation's neighborhoods. Being a walkable neighborhood can help increase property values for the simple reason that people enjoy it and value it. To put it plainly, despite our love affair with the automobile, American's enjoy taking to the streets, sidewalks, paths, and courtyards of a place to get a coffee, relax, and take in the sights and sounds. And, according to NeighborhoodScout's exclusive and first quantitative walkable score index, the Olney neighborhood is one of the most walkable neighborhoods in America.

People

NeighborhoodScout's exclusive research revealed that 94.9% of the adult residents in the Olney neighborhood do not have a 4-year college degree, which is a lower rate of college graduated adults than found in 97.1% of the neighborhoods in America.

Modes of Transportation

More people ride the bus in this neighborhood each day to get to work than 95.9% of U.S. neighborhoods.

Diversity

Did you know that the Olney neighborhood has more African and Puerto Rican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 13.3% of this neighborhood's residents have African ancestry and 16.3% have Puerto Rican ancestry.

Olney is also pretty special linguistically. Significantly, 0.4% of its residents five years old and above primarily speak Mon-Khmer, which is the dominant language of Cambodia, at home. While this may seem like a small percentage, it is higher than 97.6% of the neighborhoods in America.

Migration / Stability

Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. More residents of the Olney neighborhood live here today that also were living in this same neighborhood five years ago than is found in 96.8% of U.S. neighborhoods. This neighborhood is really made up of people who know each other, don't move often, and have lived here in this very neighborhood for quite a while.

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 Olney neighborhood in Philadelphia are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 64.1% of U.S. neighborhoods. With 52.9% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 95.0% of U.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 Olney neighborhood, 33.0% of the working population is employed in clerical, assistant, and tech support 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 30.4% of the residents employed. Other residents here are employed in executive, management, and professional occupations (19.8%), and 16.7% 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 Olney neighborhood is English, spoken by 69.6% of households. Other important languages spoken here include Spanish, Vietnamese and Italian.

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 Olney neighborhood in Philadelphia, PA, residents most commonly identify their ethnicity or ancestry as Puerto Rican (16.3%). There are also a number of people of Sub-Saharan African ancestry (13.3%), and residents who report African roots (13.3%), and some of the residents are also of Asian ancestry (6.5%), along with some Italian ancestry residents (3.9%), among others. In addition, 14.3% 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 Olney neighborhood spend between 45 minutes and one hour commuting one-way to work (39.4% of working residents), longer and tougher than most commutes in America.

Here most residents (60.9%) 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 (13.6%) and 12.0% 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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