Potomac Chase / Mills Farm median real estate price is $919,731, which is more expensive than 93.4% of the neighborhoods in Maryland and 90.2% of the neighborhoods in the U.S.
The average rental price in Potomac Chase / Mills Farm is currently $3,401, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 85.7% of the neighborhoods in Maryland.
Potomac Chase / Mills Farm is a suburban neighborhood (based on population density) located in Gaithersburg, Maryland.
Potomac Chase / Mills Farm 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 Potomac Chase / Mills Farm neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.
In Potomac Chase / Mills Farm, the current vacancy rate is 1.4%, which is a lower rate of vacancies than 89.8% of all neighborhoods in the U.S. This means that the housing supply in Potomac Chase / Mills Farm 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.
Real Estate
One way that the Potomac Chase / Mills Farm neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 99.5% 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 addition, most neighborhoods are composed of a mixture of ages of homes, but the Potomac Chase / Mills Farm stands out as rather unique in having nearly all of its residential real estate built in one time period, namely between 1970 and 1999, generally considered to be established, but not old housing. What you'll sense when you look around or drive the streets of this neighborhood is that many of the residences look the same because of this similarity of age. In fact, 90.0% of the residential real estate here was built in this one time period.
Furthermore, owner-occupied real estate dominates the Potomac Chase / Mills Farm neighborhood. In fact, according to NeighborhoodScout research, the percentage of residential real estate occupied by its owner is higher here than in 97.0% of neighborhoods in America.
People
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 1.4% of America's neighborhoods are wealthier than the Potomac Chase / Mills Farm 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.
In addition, do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 76.1% of the adults living in the Potomac Chase / Mills Farm neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 96.5% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
Also, the Potomac Chase / Mills Farm neighborhood is considered a solid choice for executive lifestyles. NeighborhoodScout's analysis ranks it as better than 92.3% of Maryland neighborhoods for executive living, based on the wealthy, educated professionals, executives, and managers who choose to reside here, the spacious homes that are prominent features of the real estate in the neighborhood, and the high real estate appreciation rates found here relative to other neighborhoods in the state. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for urban sophisticates and families with school-aged children.
Occupations
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 Potomac Chase / Mills Farm neighborhood in particular stands out when compared nationally for the proportion of its working residents who are employed by the government. At 14.7% of its workforce, this neighborhood has a greater concentration of government workers than 96.9% of U.S. neighborhoods.
Modes of Transportation
A unique way of commuting is simply not to. And in the Potomac Chase / Mills Farm neighborhood, analysis shows that 27.8% 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 95.5% 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.
Diversity
Did you know that the Potomac Chase / Mills Farm neighborhood has more Eastern European and Ukrainian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.7% of this neighborhood's residents have Eastern European ancestry and 2.8% have Ukrainian ancestry.
Potomac Chase / Mills Farm is also pretty special linguistically. Significantly, 2.1% 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 96.2% of the neighborhoods in America.
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 Potomac Chase / Mills Farm neighborhood in Gaithersburg 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 98.6% of the neighborhoods in America. In addition, 7.0% 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 58.5% 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 Potomac Chase / Mills Farm neighborhood, 65.2% 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 17.8% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (14.7%), and 11.4% 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 Potomac Chase / Mills Farm neighborhood is English, spoken by 73.3% of households. Other important languages spoken here include Chinese, Langs. of India, Vietnamese and Korean.
Ethnicity / Ancestry
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 Potomac Chase / Mills Farm neighborhood in Gaithersburg, MD, residents most commonly identify their ethnicity or ancestry as Asian (19.7%). There are also a number of people of Irish ancestry (10.7%), and residents who report German roots (10.4%), and some of the residents are also of English ancestry (8.9%), along with some Italian ancestry residents (8.4%), among others. In addition, 23.2% 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 Potomac Chase / Mills Farm neighborhood spend between 45 minutes and one hour commuting one-way to work (31.4% of working residents), longer and tougher than most commutes in America.
Here most residents (60.7%) 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 (9.0%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
