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Real Estate Prices & Overview

Goodacre Knolls median real estate price is $415,172, which is less expensive than 60.6% of Maryland neighborhoods and 44.8% of all U.S. neighborhoods.

The average rental price in Goodacre Knolls is currently $2,281, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 65.0% of Maryland neighborhoods.

Goodacre Knolls is a densely urban neighborhood (based on population density) located in Silver Spring, Maryland.

Goodacre Knolls real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and townhomes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Goodacre Knolls neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

In Goodacre Knolls, the current vacancy rate is 2.8%, which is a lower rate of vacancies than 81.5% of all neighborhoods in the U.S. This means that the housing supply in Goodacre Knolls 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 Silver Spring, the Goodacre Knolls neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Modes of Transportation

Our research revealed that more commuters here take the bus to work (13.2% ride the bus) than 96.6% of all American neighborhoods. If you like the idea of leaving your car and home and hopping the bus to work, this might be a good neighborhood for you to consider.

Real Estate

The Goodacre Knolls 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 82.6% 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.

Diversity

Did you know that the Goodacre Knolls neighborhood has more Sub-Saharan African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 21.3% of this neighborhood's residents have Sub-Saharan African ancestry.

Goodacre Knolls is also pretty special linguistically. Significantly, 18.3% of its residents five years old and above primarily speak African languages at home. While this may seem like a small percentage, it is higher than 99.9% of the neighborhoods in America.

Migration / Stability

The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. What is interesting to note, is that the Goodacre Knolls neighborhood has a greater percentage of residents born in another country (54.1%) than are found in 98.5% of all U.S. neighborhoods.

The Neighbors

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 Goodacre Knolls neighborhood in Silver Spring are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 60.6% of the neighborhoods in America. With 18.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 66.0% of U.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 Goodacre Knolls neighborhood, 36.5% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 29.1% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (25.8%), and 8.7% in government jobs, whether they are in local, state, or federal positions.

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 Goodacre Knolls neighborhood is English, spoken by 35.7% of households. Other important languages spoken here include Spanish, African languages, French and Vietnamese.

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Goodacre Knolls neighborhood in Silver Spring, MD, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (21.3%). There are also a number of people of Asian ancestry (5.5%), and residents who report English roots (4.6%), and some of the residents are also of South American ancestry (4.5%), along with some German ancestry residents (3.6%), among others. In addition, 54.1% 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 Goodacre Knolls neighborhood spend between 15 and 30 minutes commuting one-way to work (29.8% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (62.5%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (13.2%) and 11.8% of residents also carpool with coworkers, friends, or neighbors 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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