Pennypack Park median real estate price is $265,264, which is more expensive than 43.7% of the neighborhoods in Pennsylvania and 31.5% of the neighborhoods in the U.S.
The average rental price in Pennypack Park is currently $2,092, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 68.9% of the neighborhoods in Pennsylvania.
Pennypack Park is a rural neighborhood (based on population density) located in Philadelphia, Pennsylvania.
Pennypack Park real estate is primarily made up of small (studio to two bedroom) small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Pennypack Park neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
In Pennypack Park, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Pennypack Park 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.
91.4% of the real estate in the Pennypack Park neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America. This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the Pennypack Park neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.
In addition, three-deckers, duplexes, old Victorian homes cut up into apartments. Independent stores on the corner selling pizza. These are some of the hallmarks of neighborhoods with lots of small 2, 3, and 4 unit apartment buildings. The Pennypack Park neighborhood really stands out in this regard, however, as it is dominated by such small apartment buildings more than nearly any other neighborhood in America. This is a stunning visual and lifestyle example of this type of neighborhood. In fact, 100.0% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 100.0% of America's neighborhoods.
Furthermore, if you like the look and ambience of new homes and newly built neighborhoods, you will love the Pennypack Park neighborhood. A whopping 100.0% 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 100.0% of the neighborhoods in the U.S. Everything here just feels new. In fact, the concentration of newer homes here is so great that they completely dominate the landscape. In most neighborhoods, there is a mixture of ages of residential real estate, but here it is almost completely built during one time frame: 2000 through today.
Also of note, the Pennypack Park neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 100.0% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
Of note is NeighborhoodScout's research finding that the Pennypack Park neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Pennypack Park community truly stands out from the rest in this regard.
In addition, if you're planning where to retire, the Pennypack Park neighborhood in Philadelphia is a great option to consider. According to NeighborhoodScout's exclusive retirement dream area analysis, it's peaceful and quiet, has above average safety ratings compared to other neighborhoods in PA, offers a wide range of housing options, and has already attracted an enviable mix of college educated seniors. This neighborhood ranks as better for retirement living than 86.5% of the neighborhoods in Pennsylvania. If you are considering retiring to Pennsylvania, this is a good neighborhood to look at.
Whether walking, biking, riding, or driving, the length of one's commute is an important factor for one's quality of life. The Pennypack Park neighborhood stands out for its commute length, according to NeighborhoodScout's analysis. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the Pennypack Park neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 86.7% of commuters here travel more than one hour just one-way to work. That is more than two hours per day. This percentage with two-hour + round-trip commutes is higher than NeighborhoodScout found in 100.0% of all neighborhoods in America.
The Pennypack Park neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 99.9% of the neighborhoods in America. In fact, 91.3% 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.
In the Pennypack Park neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 34.8% 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 97.5% 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.
Did you know that the Pennypack Park neighborhood has more Cuban and Swiss ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 8.1% of this neighborhood's residents have Cuban ancestry and 2.0% have Swiss ancestry.
Pennypack Park is also pretty special linguistically. Significantly, 3.7% of its residents five years old and above primarily speak German/Yiddish at home. While this may seem like a small percentage, it is higher than 98.6% of the neighborhoods in America.
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. In the Pennypack Park neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 95.6% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
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 Pennypack Park neighborhood in Philadelphia are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 100.0% of U.S. neighborhoods. 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 Pennypack Park neighborhood, 91.3% 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 8.7% of the residents employed.
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 Pennypack Park neighborhood is English, spoken by 86.5% of households. Other important languages spoken here include Italian, Spanish and German/Yiddish.
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 Pennypack Park neighborhood in Philadelphia, PA, residents most commonly identify their ethnicity or ancestry as English (9.8%). There are also a number of people of Cuban ancestry (8.1%), and residents who report Sub-Saharan African roots (6.8%), and some of the residents are also of African ancestry (6.8%), along with some Irish ancestry residents (5.3%), among others.
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 Pennypack Park neighborhood spend longer than one hour commuting one-way to work (86.7% of working residents), one of the longer commutes in America, which is a potential downside for residents of this neighborhood.
Here most residents (65.2%) drive alone in a private automobile to get to work. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
