Parkwood median real estate price is $1,175,539, which is more expensive than 96.6% of the neighborhoods in Maryland and 93.5% of the neighborhoods in the U.S.
The average rental price in Parkwood is currently $3,740, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 89.3% of the neighborhoods in Maryland.
Parkwood is an urban neighborhood (based on population density) located in Kensington, Maryland.
Parkwood real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more 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 Parkwood neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 2000 and the present.
Real estate vacancies in Parkwood are 4.0%, which is lower than one will find in 73.7% of American neighborhoods. Demand for real estate in Parkwood is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.
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.
People
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 Parkwood neighborhood, where 57.5% 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 99.7% of the neighborhoods in America.
In addition, 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 Parkwood neighborhood is wealthier than 98.6% 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.
Also, if you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the Parkwood neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 98.5% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the Parkwood neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for highly educated executives and families with school-aged children.
Modes of Transportation
A unique way of commuting is simply not to. And in the Parkwood neighborhood, analysis shows that 38.2% 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 99.3% 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.
Occupations
Executives, managers and professionals make up 79.5% of the workforce in the Parkwood neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 99.0% 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 Parkwood neighborhood in particular stands out when compared nationally for the proportion of its working residents who are employed by the government. At 18.9% of its workforce, this neighborhood has a greater concentration of government workers than 98.7% of U.S. neighborhoods.
Real Estate
Most neighborhoods have a mixture of ages of homes in them, from new to old, but this neighborhood stands out due to its concentration of residential real estate built in one time frame: from 1940 through 1969, generally considered older, well-established homes. This was a busy time in America for home construction. After the end of World War II, as GIs came home, bought newly built homes on the edges of cities with the help of the GI Bill, and began their families. This housing era generally coincides with the 'Baby Boom' generation (1945 - 1964), and many baby boomers grew up in homes built in this era. But what is so interesting about the Parkwood neighborhood, is that an incredible 82.0% of the homes here were built in this era. So when you walk its streets or drive through, this neighborhood has a look and feel that harkens to that era in American life, a very important slice of Americana.
Diversity
Did you know that the Parkwood neighborhood has more Austrian and Brazilian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.6% of this neighborhood's residents have Austrian ancestry and 1.2% have Brazilian ancestry.
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 Parkwood neighborhood in Kensington 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, 5.4% 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 63.3% 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 Parkwood neighborhood, 79.5% 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 18.9% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (11.6%), and 4.7% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the Parkwood neighborhood is English, spoken by 86.8% of households. Some people also speak Spanish (3.8%).
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 Parkwood neighborhood in Kensington, MD, residents most commonly identify their ethnicity or ancestry as Irish (20.1%). There are also a number of people of German ancestry (13.1%), and residents who report English roots (9.9%), and some of the residents are also of Italian ancestry (7.3%), along with some Asian ancestry residents (7.0%), among others.
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 Parkwood neighborhood spend between 15 and 30 minutes commuting one-way to work (42.7% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (47.5%) 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 (6.1%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
