Downtown Silver Spring median real estate price is $926,354, which is more expensive than 92.1% of the neighborhoods in Maryland and 88.7% of the neighborhoods in the U.S.
The average rental price in Downtown Silver Spring is currently $3,069, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 75.8% of the neighborhoods in Maryland.
Downtown Silver Spring is a densely urban neighborhood (based on population density) located in Silver Spring, Maryland.
Downtown Silver Spring 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 renter occupied. Many of the residences in the Downtown Silver Spring neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1940 and 1969.
Home and apartment vacancy rates are 8.0% in Downtown Silver Spring. NeighborhoodScout analysis shows that this rate is lower than 45.9% of the neighborhoods in the nation, approximately near the middle range for vacancies.
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.
Of note is NeighborhoodScout's research finding that the Downtown Silver Spring 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 Downtown Silver Spring community truly stands out from the rest in this regard.
In addition, one of the most interesting things about the Downtown Silver Spring neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 54.4% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 97.2% of the neighborhoods in America.
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 76.2% of the adults living in the Downtown Silver Spring neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 96.2% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
Finally, a unique characteristic about the people in the Downtown Silver Spring neighborhood is that a majority of them are young, single professionals. In fact, there are more young, single professionals in this one community than 96.1% of neighborhoods in the U.S. Here you'll find an active nightlife nearby with lots of opportunities to flirt and find romance.
One of the really unique and interesting things about the look and setting of the Downtown Silver Spring neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 95.7% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 99.1% of all neighborhoods in America.
In addition, the Downtown Silver Spring neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 95.7% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
Furthermore, 92.6% of the real estate in the Downtown Silver Spring neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
Also of note, if you like crowded places, then you will probably enjoy the the Downtown Silver Spring neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 96.2% of neighborhoods in the U.S., with 25,452 people per square mile living here.
In the Downtown Silver Spring neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 42.5% 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 98.8% 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.
The Downtown Silver Spring neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 96.9% of the neighborhoods in America. In fact, 74.1% 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.
The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. In the Downtown Silver Spring neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 97.1% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
Did you know that the Downtown Silver Spring neighborhood has more Sub-Saharan African and Jamaican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 12.5% of this neighborhood's residents have Sub-Saharan African ancestry and 3.2% have Jamaican ancestry.
Downtown Silver Spring is also pretty special linguistically. Significantly, 8.6% of its residents five years old and above primarily speak African languages at home. While this may seem like a small percentage, it is higher than 99.6% 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 Downtown Silver Spring neighborhood in Silver Spring are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 63.0% 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.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the Downtown Silver Spring neighborhood, 74.1% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 12.1% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (11.6%), and 6.6% in government jobs, whether they are in local, state, or federal positions.
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 Downtown Silver Spring neighborhood is English, spoken by 78.4% of households. Other important languages spoken here include African languages, Spanish 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 Downtown Silver Spring neighborhood in Silver Spring, MD, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (12.5%). There are also a number of people of Asian ancestry (12.0%), and residents who report Italian roots (11.5%), and some of the residents are also of Irish ancestry (7.8%), along with some German ancestry residents (6.7%), among others. In addition, 25.4% 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 Downtown Silver Spring neighborhood spend between 15 and 30 minutes commuting one-way to work (27.9% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (33.6%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (8.3%) and 7.8% of residents also take the train 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.
