Old Georgetown Estates / Walnut Woods median real estate price is $1,288,467, which is more expensive than 97.4% of the neighborhoods in Maryland and 94.7% of the neighborhoods in the U.S.
The average rental price in Old Georgetown Estates / Walnut Woods is currently $4,280, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 95.5% of the neighborhoods in Maryland.
Old Georgetown Estates / Walnut Woods is a suburban neighborhood (based on population density) located in Rockville, Maryland.
Old Georgetown Estates / Walnut 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 townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Old Georgetown Estates / Walnut Woods neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
Real estate vacancies in Old Georgetown Estates / Walnut Woods are 4.9%, which is lower than one will find in 67.0% of American neighborhoods. Demand for real estate in Old Georgetown Estates / Walnut Woods 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 you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 0.5% of America's neighborhoods are wealthier than the Old Georgetown Estates / Walnut Woods neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe. As one would expect in a considerably wealthy neighborhood such as this, Old Georgetown Estates / Walnut Woods also has one of the lowest ratings of child poverty in the nation.
In addition, 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 Old Georgetown Estates / Walnut Woods neighborhood, where 56.8% 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.
Also, a majority of the adults in the Old Georgetown Estates / Walnut Woods neighborhood are wealthy and educated executives. They own stately homes that tend to maintain high real estate appreciation rates. Their upper-level careers keep them busy, but allow them to live comfortably. If you're an executive and want to keep similar company, consider settling in this neighborhood, rated as an executive lifestyle "best choice" neighborhood for Maryland by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 97.3% of the neighborhoods in Maryland. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for urban sophisticates.
Real Estate
One way that the Old Georgetown Estates / Walnut Woods neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 98.7% 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.
Occupations
The Old Georgetown Estates / Walnut Woods neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 98.6% of the neighborhoods in America. In fact, 78.1% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
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 Old Georgetown Estates / Walnut Woods neighborhood in particular stands out when compared nationally for the proportion of its working residents who are employed by the government. At 15.6% of its workforce, this neighborhood has a greater concentration of government workers than 97.4% of U.S. neighborhoods.
Modes of Transportation
A unique way of commuting is simply not to. And in the Old Georgetown Estates / Walnut Woods neighborhood, analysis shows that 27.9% 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 95.6% 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.
Also, in the Old Georgetown Estates / Walnut Woods neighborhood, 10.0% of people ride the train to work each day. This is a very high percentage compared to most places. In fact, NeighborhoodScout's analysis reveals that this is a higher level of train ridership than in 95.0% of the neighborhoods in America.
Diversity
Did you know that the Old Georgetown Estates / Walnut Woods neighborhood has more Eastern European and Russian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.6% of this neighborhood's residents have Eastern European ancestry and 4.8% have Russian ancestry.
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 Old Georgetown Estates / Walnut Woods neighborhood in Rockville 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 99.5% 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 Old Georgetown Estates / Walnut Woods neighborhood, 78.1% 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 15.6% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (12.8%), and 5.4% 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 Old Georgetown Estates / Walnut Woods neighborhood is English, spoken by 76.2% of households. Other important languages spoken here include Spanish and Chinese.
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 Old Georgetown Estates / Walnut Woods neighborhood in Rockville, MD, residents most commonly identify their ethnicity or ancestry as German (15.2%). There are also a number of people of Irish ancestry (14.2%), and residents who report Asian roots (11.2%), and some of the residents are also of English ancestry (9.1%), along with some Russian ancestry residents (4.8%), among others. In addition, 23.3% 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 Old Georgetown Estates / Walnut Woods neighborhood spend between 15 and 30 minutes commuting one-way to work (28.7% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (56.0%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (10.0%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
