Chevy Chase Terrace / Somerset Heights median real estate price is $1,852,336, which is more expensive than 99.3% of the neighborhoods in Maryland and 97.9% of the neighborhoods in the U.S.
The average rental price in Chevy Chase Terrace / Somerset Heights is currently $3,410, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 83.1% of the neighborhoods in Maryland.
Chevy Chase Terrace / Somerset Heights is a suburban neighborhood (based on population density) located in Bethesda, Maryland.
Chevy Chase Terrace / Somerset Heights real estate is primarily made up of large (four, five or more bedroom) to medium sized (three or four 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 Chevy Chase Terrace / Somerset Heights neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.
Real estate vacancies in Chevy Chase Terrace / Somerset Heights are 5.4%, which is lower than one will find in 63.9% of American neighborhoods. Demand for real estate in Chevy Chase Terrace / Somerset Heights 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.
When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.
People
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 Chevy Chase Terrace / Somerset Heights neighborhood is wealthier than 98.4% 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. As one would expect in a considerably wealthy neighborhood such as this, Chevy Chase Terrace / Somerset Heights 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 Chevy Chase Terrace / Somerset Heights neighborhood, where 63.5% 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 99.9% of the neighborhoods in America.
Also, think about the people you know personally. How many of them would purchase box seats to opening night at the symphony? How many of them regularly attend gallery openings, or are the first to reserve tickets to opening night at the ballet? If they're like most of us, they don't do any of these things. But if you're among an exclusive crowd of wealthy and refined patrons of the arts, then you'll feel right at home in the Chevy Chase Terrace / Somerset Heights neighborhood: a neighborhood in which more "urban sophisticates" live than 99.1% of neighborhoods across the U.S. Here, your neighbors are defined as having urbane tastes in literature, music, live theatre and the arts. They are wealthy, educated, travel in style, and live a big city lifestyle whether or not they live in or near a big city. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for college students and highly educated executives.
Occupations
The Chevy Chase Terrace / Somerset Heights neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 99.4% of the neighborhoods in America. In fact, 82.1% 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 Chevy Chase Terrace / Somerset Heights neighborhood has a greater proportion of government workers living in it than 96.9% 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.
Modes of Transportation
In the Chevy Chase Terrace / Somerset Heights neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 37.7% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 99.3% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.
Also, would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the Chevy Chase Terrace / Somerset Heights neighborhood is a fantastic option for bicycle commuters, as 2.8% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 95.3% of the neighborhoods in America.
Finally, in the Chevy Chase Terrace / Somerset Heights neighborhood, 9.9% 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 Chevy Chase Terrace / Somerset Heights neighborhood has more Iranian and Eastern European ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.7% of this neighborhood's residents have Iranian ancestry and 5.2% have Eastern European ancestry.
Chevy Chase Terrace / Somerset Heights is also pretty special linguistically. Significantly, 1.6% of its residents five years old and above primarily speak Persian at home. While this may seem like a small percentage, it is higher than 98.8% of the neighborhoods in America.
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 Chevy Chase Terrace / Somerset Heights neighborhood in Bethesda 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 98.4% 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 Chevy Chase Terrace / Somerset Heights neighborhood, 82.1% 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 14.8% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (12.5%), and 4.5% 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 Chevy Chase Terrace / Somerset Heights neighborhood is English, spoken by 75.0% of households. Other important languages spoken here include French, Spanish, German/Yiddish and Chinese.
Ethnicity / Ancestry
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.
In the Chevy Chase Terrace / Somerset Heights neighborhood in Bethesda, MD, residents most commonly identify their ethnicity or ancestry as English (16.5%). There are also a number of people of Irish ancestry (11.2%), and residents who report German roots (10.9%), and some of the residents are also of Russian ancestry (7.8%), along with some Polish ancestry residents (5.4%), among others. In addition, 18.3% 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 Chevy Chase Terrace / Somerset Heights neighborhood spend between 15 and 30 minutes commuting one-way to work (34.3% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (39.5%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (9.9%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
