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Real Estate Prices & Overview

Greencastle Towns median real estate price is $454,607, which is more expensive than 47.7% of the neighborhoods in Maryland and 57.7% of the neighborhoods in the U.S.

The average rental price in Greencastle Towns is currently $2,648, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 60.8% of the neighborhoods in Maryland.

Greencastle Towns is an urban neighborhood (based on population density) located in Silver Spring, Maryland.

Greencastle Towns 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 Greencastle Towns 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 Greencastle Towns, the current vacancy rate is 2.3%, which is a lower rate of vacancies than 83.1% of all neighborhoods in the U.S. This means that the housing supply in Greencastle Towns is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

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 Silver Spring, the Greencastle Towns neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Length of Commute

Whether walking, biking, riding, or driving, the length of one's commute is an important factor for one's quality of life. The Greencastle Towns neighborhood stands out for its commute length, according to NeighborhoodScout's analysis. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the Greencastle Towns neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 11.4% of commuters here travel more than one hour just one-way to work. That is more than two hours per day. This percentage with two-hour + round-trip commutes is higher than NeighborhoodScout found in 97.0% of all neighborhoods in America.

Real Estate

One of the really unique and interesting things about the look and setting of the Greencastle Towns neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 74.5% 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 95.8% of all neighborhoods in America.

People

One of the most interesting things about the Greencastle Towns neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 50.0% 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 95.2% of the neighborhoods in America.

Diversity

Did you know that the Greencastle Towns neighborhood has more Sub-Saharan African and African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 24.9% of this neighborhood's residents have Sub-Saharan African ancestry and 10.8% have African ancestry.

Greencastle Towns is also pretty special linguistically. Significantly, 10.3% 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 99.7% of the neighborhoods in America.

The Neighbors

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 Greencastle Towns neighborhood in Silver Spring are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 51.5% of the neighborhoods in America. In addition, 8.9% 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 52.1% 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 Greencastle Towns neighborhood, 65.5% 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 14.7% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (14.1%), and 10.2% 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 Greencastle Towns neighborhood is English, spoken by 53.8% of households. Other important languages spoken here include Spanish, French and African languages.

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 Greencastle Towns neighborhood in Silver Spring, MD, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (24.9%). There are also a number of people of African ancestry (10.8%), and residents who report Asian roots (8.0%), and some of the residents are also of Puerto Rican ancestry (3.3%), along with some Dominican ancestry residents (3.3%), among others. In addition, 36.5% of the residents of this neighborhood were born in another country.

Getting to Work

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 Greencastle Towns neighborhood spend between 30 and 45 minutes commuting one-way to work (34.6% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods. However, there is also a significant group of residents (11.4%) who commute over an hour in each direction.

Here most residents (63.8%) 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 (19.7%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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