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Real Estate Prices & Overview

Potomac Woods median real estate price is $1,121,721, which is more expensive than 96.5% of the neighborhoods in Maryland and 93.8% of the neighborhoods in the U.S.

The average rental price in Potomac Woods is currently $3,960, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 94.1% of the neighborhoods in Maryland.

Potomac Woods is a suburban neighborhood (based on population density) located in Potomac, Maryland.

Potomac 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 apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Potomac Woods neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1940 and 1969.

In Potomac Woods, the current vacancy rate is 0.9%, which is a lower rate of vacancies than 91.8% of all neighborhoods in the U.S. This means that the housing supply in Potomac Woods is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

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 Potomac, the Potomac Woods neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

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 Potomac Woods neighborhood is wealthier than 98.7% 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, Potomac Woods 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, Potomac Woods 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 99.2% 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 urban sophisticates and highly educated executives.

Also, if knowledge is power, then imagine the cumulative power of one neighborhood where many of the adults have earned an advanced degree, such as a Masters, law degree, medical degree, or even a Ph.D. This is certainly the case in the Potomac Woods neighborhood, where 45.6% have earned an advanced degree. Compare that to the average neighborhood in America, where just 13.4% of adults have completed a post-graduate degree, and you can see why this neighborhood is a stand out. In fact, this neighborhood has a higher rate of adults with an advanced degree than 98.5% of the neighborhoods in America.

Occupations

Executives, managers and professionals make up 77.5% of the workforce in the Potomac Woods neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 98.5% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.

Furthermore, 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 Woods neighborhood in particular stands out when compared nationally for the proportion of its working residents who are employed by the government. At 15.1% of its workforce, this neighborhood has a greater concentration of government workers than 97.2% of U.S. neighborhoods.

Modes of Transportation

In the Potomac Woods neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 30.2% 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 97.0% 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.

Diversity

Did you know that the Potomac Woods neighborhood has more Iranian and Belgian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.0% of this neighborhood's residents have Iranian ancestry and 2.0% have Belgian ancestry.

Potomac Woods is also pretty special linguistically. Significantly, 2.0% of its residents five years old and above primarily speak Persian at home. While this may seem like a small percentage, it is higher than 99.1% of the neighborhoods in America.

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 Potomac Woods neighborhood in Potomac 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 98.7% 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 Potomac Woods neighborhood, 77.5% 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 15.1% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (13.3%), and 5.7% 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 Potomac Woods neighborhood is English, spoken by 64.9% of households. Other important languages spoken here include Spanish, Langs. of India, Korean and Chinese.

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 Woods neighborhood in Potomac, MD, residents most commonly identify their ethnicity or ancestry as Asian (17.1%). There are also a number of people of German ancestry (15.2%), and residents who report English roots (8.5%), and some of the residents are also of Irish ancestry (7.4%), along with some Polish ancestry residents (6.8%), among others. In addition, 28.1% of the residents of this neighborhood were born in another country.

Getting to Work

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 Woods neighborhood spend between 30 and 45 minutes commuting one-way to work (33.8% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (59.8%) 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 (7.0%) . 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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