Aspen Hill Park median real estate price is $554,343, which is more expensive than 65.1% of the neighborhoods in Maryland and 70.8% of the neighborhoods in the U.S.
The average rental price in Aspen Hill Park is currently $4,283, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 95.6% of the neighborhoods in Maryland.
Aspen Hill Park is an urban neighborhood (based on population density) located in Rockville, Maryland.
Aspen Hill Park real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Aspen Hill Park neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
In Aspen Hill Park, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Aspen Hill Park is very tight compared to the demand for property here.
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
Owner-occupied real estate dominates the Aspen Hill Park neighborhood. In fact, according to NeighborhoodScout research, the percentage of residential real estate occupied by its owner is higher here than in 95.4% of neighborhoods in America. With a real estate vacancy rate of only 0.0%, the Aspen Hill Park neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.
In addition, 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 Aspen Hill Park neighborhood, is that an incredible 97.3% 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.
Furthermore, the Aspen Hill Park neighborhood has earned the amazing distinction of having one of the highest rates of detached, single-family homes of any neighborhood in the U.S. With 99.4% of the residential real estate here made up of free-standing single-family homes, there is a greater proportion of single-family homes here than in 98.2% of all neighborhoods in America.
People
Of note is NeighborhoodScout's research finding that the Aspen Hill Park neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Aspen Hill Park community truly stands out from the rest in this regard.
In addition, if you're looking for a great spot to raise a family, then look no further than the Aspen Hill Park neighborhood. NeighborhoodScout's analysis found that the combination of good quality public schools, above-average safety from crime, and a high rate of home ownership in predominantly single-family homes, help make this neighborhood among the top 11.3% of family-friendly neighborhoods across the state of Maryland. In addition, there are a high proportion of other families with school-aged children living here, making it easy for parents and their children to socialize and develop a sense of community support. In addition, families here highly value education, as is reflected by the strength of the local schools, in part due to the educational attainment of the parents here, who vote in support of the public schools. In addition to being an excellent choice for families with school-aged children, this neighborhood is also a very good choice for college students.
Car Ownership
American households most often have a car, and regularly they have two or three. But households in the Aspen Hill Park neighborhood buck this trend. Residents of this neighborhood must really love automobiles. NeighborhoodScout's Analysis reveals that 40.0% of the households here have four, five, or more cars. That is more cars per household than in 98.2% of the neighborhoods in the nation.
Diversity
Did you know that the Aspen Hill Park neighborhood has more South American and Arab ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 19.5% of this neighborhood's residents have South American ancestry and 4.1% have Arab ancestry.
Aspen Hill Park is also pretty special linguistically. Significantly, 1.2% of its residents five years old and above primarily speak Mon-Khmer, which is the dominant language of Cambodia, at home. While this may seem like a small percentage, it is higher than 99.1% of the neighborhoods in America.
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 Aspen Hill Park 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 85.9% 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.
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 Aspen Hill Park neighborhood, 39.5% 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 32.5% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (16.9%), and 11.1% 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 Aspen Hill Park neighborhood is Spanish, spoken by 46.0% of households. Other important languages spoken here include English, Vietnamese, Arabic and French.
Ethnicity / Ancestry
Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.
In the Aspen Hill Park neighborhood in Rockville, MD, residents most commonly identify their ethnicity or ancestry as South American (19.5%). There are also a number of people of Asian ancestry (15.0%), and residents who report Italian roots (10.9%), and some of the residents are also of Sub-Saharan African ancestry (5.5%), along with some English ancestry residents (5.3%), among others. In addition, 41.6% 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 Aspen Hill Park neighborhood spend between 15 and 30 minutes commuting one-way to work (31.0% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (60.4%) 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 (20.6%) and 7.2% 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.
