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Real Estate Prices & Overview

Parkridge Estates median real estate price is $664,254, which is more expensive than 73.2% of the neighborhoods in Maryland and 76.2% of the neighborhoods in the U.S.

The average rental price in Parkridge Estates is currently $2,412, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 58.2% of Maryland neighborhoods.

Parkridge Estates is a suburban neighborhood (based on population density) located in Gaithersburg, Maryland.

Parkridge Estates 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 renter occupied. Many of the residences in the Parkridge Estates 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 Parkridge Estates, the current vacancy rate is 2.1%, which is a lower rate of vacancies than 86.0% of all neighborhoods in the U.S. This means that the housing supply in Parkridge Estates is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

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

If you love row houses and attached homes, you will probably really like the Parkridge Estates neighborhood. The ambiance, the charm, of row houses is something special. And in sheer abundance of row houses, this neighborhood truly stands out. The real estate here has a higher proportion of row houses and attached homes than nearly any neighborhood in America. In fact, 34.5% of the residential real estate here is classified as row houses and attached homes.

Occupations

The Parkridge Estates neighborhood has a greater proportion of government workers living in it than 96.5% of the neighborhoods in America, according to NeighborhoodScout's exclusive analysis. This is a unique feature of this neighborhood, and one that shapes its character.

Diversity

Did you know that the Parkridge Estates neighborhood has more South American and Iranian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 8.2% of this neighborhood's residents have South American ancestry and 0.9% have Iranian ancestry.

Parkridge Estates is also pretty special linguistically. Significantly, 5.7% 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 98.9% of the neighborhoods in America.

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 Parkridge Estates neighborhood in Gaithersburg are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 64.2% of the neighborhoods in America. With 14.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 59.1% of U.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 Parkridge Estates neighborhood, 51.3% 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 21.9% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (14.2%), and 14.0% 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 Parkridge Estates neighborhood is English, spoken by 46.5% of households. Other important languages spoken here include Spanish, Chinese, French and African languages.

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 Parkridge Estates neighborhood in Gaithersburg, MD, residents most commonly identify their ethnicity or ancestry as Asian (25.7%). There are also a number of people of South American ancestry (8.2%), and residents who report French roots (4.5%), and some of the residents are also of Sub-Saharan African ancestry (3.8%), along with some German ancestry residents (2.6%), among others. In addition, 39.2% of the residents of this neighborhood were born in another country.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Parkridge Estates neighborhood spend between 45 minutes and one hour commuting one-way to work (26.7% of working residents), longer and tougher than most commutes in America.

Here most residents (48.6%) 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 (16.5%) and 6.7% of residents also ride the bus 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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