Olney West median real estate price is $809,048, which is more expensive than 88.2% of the neighborhoods in Maryland and 85.0% of the neighborhoods in the U.S.
The average rental price in Olney West is currently $3,741, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 89.4% of the neighborhoods in Maryland.
Olney West is a suburban neighborhood (based on population density) located in Olney, Maryland.
Olney West real estate is primarily made up of large (four, five or more bedroom) to medium sized (three or four bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Olney West neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.
In Olney West, 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 Olney West is very tight compared to the demand for property here.
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
Real Estate
Real estate in the Olney West neighborhood is almost exclusively owner-occupied. NeighborhoodScout's analysis reveals that this neighborhood has a higher rate of owner-occupied housing than is found in 95.5% of U.S. neighborhoods. If you are seeking to rent, this neighborhood may not have many options, but high rates of ownership often indicate stability in a neighborhood. 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 Olney West 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, one way that the Olney West neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 99.8% 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.
Furthermore, some neighborhoods are made up of apartments. Some consist of row houses, and most - by far - consist of a mixture of housing types. But the Olney West neighborhood stands out due to the total dominance of detached, single-family homes here. There are nearly no other types of residential real estate in the neighborhood. In fact, this neighborhood has a higher proportion of single-family homes in its real estate stock than 97.8% of all American neighborhoods.
Also of note, most neighborhoods are composed of a mixture of ages of homes, but the Olney West 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, 82.0% of the residential real estate here was built in this one time period.
People
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 Olney West neighborhood is wealthier than 98.1% 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, Olney West also has one of the lowest ratings of child poverty in the nation.
In addition, if you are planning to retire in Maryland, this neighborhood should be on your must-see list. For many reasons, Olney West may be considered a retiree's dream neighborhood. According to NeighborhoodScout's exclusive analysis and metrics, it's peaceful and quiet, has above average safety from crime compared to other neighborhoods in Maryland, while also offering a diverse range of housing options. This, along with the vibrant mix of very educated seniors and other age groups who choose to live here, makes the neighborhood more retiree-friendly than 96.6% of neighborhoods in MD. If a Maryland retirement is in your future, this neighborhood should be one of the places you visit. In addition to being an excellent choice for active retirees, this neighborhood is also a very good choice for families with school-aged children, urban sophisticates and highly educated executives.
Also, priests and therapists would like to think they know the secrets to a truly successful marriage, but according to NeighborhoodScout's research, the folks of the Olney West neighborhood may actually hold the key. 70.1% of its residents are married, which is a higher percentage than is found in 96.4% of the neighborhoods in America.
Finally, the rate of college educated adults in the Olney West neighborhood is a unique characteristic of the neighborhood. 72.6% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 34.3% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 95.0% of all U.S. neighborhoods.
Modes of Transportation
A unique way of commuting is simply not to. And in the Olney West neighborhood, analysis shows that 34.9% 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 98.7% 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 Olney West neighborhood has more Ukrainian and Greek ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.9% of this neighborhood's residents have Ukrainian ancestry and 2.4% have Greek ancestry.
Olney West is also pretty special linguistically. Significantly, 2.9% of its residents five years old and above primarily speak Tagalog, which is the first language of the Philippine region, at home. While this may seem like a small percentage, it is higher than 95.6% of the neighborhoods in America.
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 West neighborhood in Olney 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 98.1% 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 Olney West neighborhood, 66.5% 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 22.6% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (12.4%), and 6.5% 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 Olney West neighborhood is English, spoken by 86.0% of households. Other important languages spoken here include Tagalog (the first language of the Philippine region), Spanish and Langs. of India.
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 West neighborhood in Olney, MD, residents most commonly identify their ethnicity or ancestry as Irish (23.2%). There are also a number of people of German ancestry (14.4%), and residents who report Asian roots (10.4%), and some of the residents are also of Italian ancestry (10.3%), along with some English ancestry residents (9.8%), among others. In addition, 15.1% 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 Olney West neighborhood spend between 15 and 30 minutes commuting one-way to work (35.1% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (56.4%) 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 (7.3%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
