Fallsgrove median real estate price is $857,795, which is more expensive than 85.1% of the neighborhoods in Maryland and 84.3% of the neighborhoods in the U.S.
The average rental price in Fallsgrove is currently $3,465, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 86.4% of the neighborhoods in Maryland.
Fallsgrove is a suburban neighborhood (based on population density) located in Rockville, Maryland.
Fallsgrove real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and townhomes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Fallsgrove neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
In Fallsgrove, 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 Fallsgrove 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.
This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the Fallsgrove neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.
In addition, homes built from 2000 through today make up a higher proportion of the Fallsgrove neighborhood's real estate landscape than 97.9% of the neighborhoods in America. When you are driving around this neighborhood, you'll notice right away that it is one of the newest built of any, with the smell of fresh paint, and the look of young landscaping nearly everywhere you look. In fact, 85.2% of the residential real estate here is classified as newer. In fact, the concentration of newer homes here is so great that they completely dominate the landscape. In most neighborhoods, there is a mixture of ages of residential real estate, but here it is almost completely built during one time frame: 2000 through today.
In the Fallsgrove neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 39.5% 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 98.0% 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.
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 Fallsgrove neighborhood, where 43.8% have earned an advanced degree. Compare that to the average neighborhood in America, where just 14.1% 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 97.9% of the neighborhoods in America.
In addition, if you're planning where to retire, the Fallsgrove neighborhood in Rockville is a great option to consider. According to NeighborhoodScout's exclusive retirement dream area analysis, it's peaceful and quiet, has above average safety ratings compared to other neighborhoods in MD, offers a wide range of housing options, and has already attracted an enviable mix of college educated seniors. This neighborhood ranks as better for retirement living than 89.8% of the neighborhoods in Maryland. If you are considering retiring to Maryland, this is a good neighborhood to look at.
The Fallsgrove neighborhood has a greater proportion of government workers living in it than 96.7% 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.
Did you know that the Fallsgrove neighborhood has more Romanian and Russian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.8% of this neighborhood's residents have Romanian ancestry and 4.8% have Russian ancestry.
Fallsgrove is also pretty special linguistically. Significantly, 7.6% 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 99.4% 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 Fallsgrove neighborhood in Rockville are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 80.2% of the neighborhoods in America. In addition, 5.2% 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 63.0% 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 Fallsgrove neighborhood, 64.6% 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 24.1% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (14.4%), and 7.1% in clerical, assistant, and tech support occupations.
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 Fallsgrove neighborhood is English, spoken by 56.0% of households. Other important languages spoken here include Korean, Spanish, Chinese and Langs. of India.
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 Fallsgrove neighborhood in Rockville, MD, residents most commonly identify their ethnicity or ancestry as Asian (29.9%). There are also a number of people of Sub-Saharan African ancestry (8.0%), and residents who report Russian roots (4.8%), and some of the residents are also of South American ancestry (3.7%), along with some Irish ancestry residents (3.3%), among others. In addition, 41.1% 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 Fallsgrove neighborhood spend under 15 minutes commuting one-way to work (37.5% of working residents), one of the shortest commutes across America.
Here most residents (41.2%) 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 (10.7%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.