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Real Estate Prices & Overview

Potomac Terrace / Jefferson Knolls median real estate price is $587,353, which is more expensive than 70.1% of the neighborhoods in Virginia and 73.5% of the neighborhoods in the U.S.

The average rental price in Potomac Terrace / Jefferson Knolls is currently $3,525, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 90.1% of the neighborhoods in Virginia.

Potomac Terrace / Jefferson Knolls is a suburban neighborhood (based on population density) located in Sterling, Virginia.

Potomac Terrace / Jefferson Knolls real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) townhomes and single-family homes. Most of the residential real estate is owner occupied. Many of the residences in the Potomac Terrace / Jefferson Knolls 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 Terrace / Jefferson Knolls, the current vacancy rate is 0.3%, which is a lower rate of vacancies than 93.3% of all neighborhoods in the U.S. This means that the housing supply in Potomac Terrace / Jefferson Knolls 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 Sterling, the Potomac Terrace / Jefferson Knolls neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

Many people dream of living along a street lined with row houses or other attached homes. Such places do often have an abundance of charm. If you are one of these people, the Potomac Terrace / Jefferson Knolls neighborhood could be your paradise. With 53.4% of the homes and real estate here classified as rowhouses or other attached homes, this neighborhood brims with opportunity to find the right place for you. Only 1.0% of U.S. neighborhoods have more row houses than this neighborhood, making it one of the most interesting things about this special neighborhood.

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 Potomac Terrace / Jefferson Knolls neighborhood is wealthier than 95.7% 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.

Diversity

Did you know that the Potomac Terrace / Jefferson Knolls neighborhood has more Iranian and Greek ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.8% of this neighborhood's residents have Iranian ancestry and 2.3% have Greek ancestry.

Potomac Terrace / Jefferson Knolls is also pretty special linguistically. Significantly, 3.6% 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 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 Potomac Terrace / Jefferson Knolls neighborhood in Sterling 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 95.7% of the neighborhoods in America. In addition, 1.6% 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 76.7% 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 Potomac Terrace / Jefferson Knolls neighborhood, 64.9% 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 15.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (12.9%), and 8.0% 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 Potomac Terrace / Jefferson Knolls neighborhood is English, spoken by 64.1% of households. Other important languages spoken here include Spanish, Langs. of India, Persian and Arabic.

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 Potomac Terrace / Jefferson Knolls neighborhood in Sterling, VA, residents most commonly identify their ethnicity or ancestry as Asian (23.4%). There are also a number of people of German ancestry (10.6%), and residents who report English roots (10.4%), and some of the residents are also of Irish ancestry (8.1%), along with some Italian ancestry residents (5.9%), among others. In addition, 30.0% 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 Potomac Terrace / Jefferson Knolls neighborhood spend between 15 and 30 minutes commuting one-way to work (43.8% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (64.8%) 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 (5.6%) . 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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