Potomac Chase / Mills Farm median real estate price is $1,023,322, which is more expensive than 94.3% of the neighborhoods in Maryland and 90.6% of the neighborhoods in the U.S.
The average rental price in Potomac Chase / Mills Farm is currently $3,988, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 91.5% of the neighborhoods in Maryland.
Potomac Chase / Mills Farm is a suburban neighborhood (based on population density) located in Gaithersburg, Maryland.
Potomac Chase / Mills Farm 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 Potomac Chase / Mills Farm 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 Potomac Chase / Mills Farm, 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 Potomac Chase / Mills Farm is very tight compared to the demand for property here.
Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Gaithersburg, the Potomac Chase / Mills Farm neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Real estate in the Potomac Chase / Mills Farm neighborhood is almost exclusively owner-occupied. NeighborhoodScout's analysis reveals that this neighborhood has a higher rate of owner-occupied housing than is found in 98.5% of U.S. neighborhoods. If you are seeking to rent, this neighborhood may not have many options, but high rates of ownership often indicate stability in a neighborhood. With a real estate vacancy rate of only 0.0%, the Potomac Chase / Mills Farm 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, one way that the Potomac Chase / Mills Farm neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 99.5% 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.
Furthermore, most neighborhoods are composed of a mixture of ages of homes, but the Potomac Chase / Mills Farm stands out as rather unique in having nearly all of its residential real estate built in one time period, namely between 1970 and 1999, generally considered to be established, but not old housing. What you'll sense when you look around or drive the streets of this neighborhood is that many of the residences look the same because of this similarity of age. In fact, 90.9% of the residential real estate here was built in this one time period.
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 1.6% of America's neighborhoods are wealthier than the Potomac Chase / Mills Farm 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.
In addition, one of the really interesting characteristics about the Potomac Chase / Mills Farm neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 4.7% of college-friendly places to live in the state of Maryland. In addition to being an excellent choice for college students, this neighborhood is also a very good choice for highly educated executives, urban sophisticates and families with school-aged children.
Also, do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 73.1% of the adults living in the Potomac Chase / Mills Farm neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 95.1% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
In the Potomac Chase / Mills Farm neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 33.6% 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 96.9% 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.
Did you know that the Potomac Chase / Mills Farm neighborhood has more Ukrainian and Eastern European ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.6% of this neighborhood's residents have Ukrainian ancestry and 2.4% have Eastern European ancestry.
Potomac Chase / Mills Farm is also pretty special linguistically. Significantly, 2.2% of its residents five years old and above primarily speak Korean at home. While this may seem like a small percentage, it is higher than 96.4% 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 Potomac Chase / Mills Farm neighborhood in Gaithersburg 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. With 10.7% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 51.8% of U.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 Potomac Chase / Mills Farm neighborhood, 65.7% 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 17.4% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (11.5%), and 10.0% 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 Potomac Chase / Mills Farm neighborhood is English, spoken by 73.0% of households. Other important languages spoken here include Chinese, Langs. of India, Korean and Spanish.
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 Potomac Chase / Mills Farm neighborhood in Gaithersburg, MD, residents most commonly identify their ethnicity or ancestry as Asian (19.2%). There are also a number of people of German ancestry (13.2%), and residents who report Irish roots (12.0%), and some of the residents are also of English ancestry (12.0%), along with some Italian ancestry residents (8.6%), among others. In addition, 23.4% of the residents of this neighborhood were born in another country.
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 Potomac Chase / Mills Farm neighborhood spend between 45 minutes and one hour commuting one-way to work (31.2% of working residents), longer and tougher than most commutes in America.
Here most residents (57.9%) 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 (7.1%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
