Downtown Silver Spring median real estate price is $915,816, which is more expensive than 90.6% of the neighborhoods in Maryland and 87.6% of the neighborhoods in the U.S.
The average rental price in Downtown Silver Spring is currently $2,746, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 40.5% of Maryland neighborhoods.
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.
Real estate vacancies in Downtown Silver Spring are 5.5%, which is lower than one will find in 63.0% of American neighborhoods. Demand for real estate in Downtown Silver Spring is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.
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 Downtown Silver Spring neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
In a nation where 1 out of every 4 children lives in poverty, the Downtown Silver Spring neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.
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 65.6% 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 99.5% of the neighborhoods in America.
Also, some neighborhoods have residents that are more educated than others. But in this neighborhood there is a dramatic difference. NeighborhoodScout's exclusive analysis reveals that 42.5% of the adults here have earned a Masters degree, medical degree, Ph.D. or law degree. This is a higher rate of people with a graduate degree than is found in 97.8% of U.S. neighborhoods, where the average American neighborhood has 13.4% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.
Finally, if you're looking for an active nightlife with lots of opportunities to flirt and find romance, then you probably won't have to go too far from the Downtown Silver Spring neighborhood to find it. Only 2.8% of the neighborhoods in the country have a larger proportion of young, single professionals. The nightlife may not be reminiscent of a "Sex and the City" episode, but the people who live here find friendship, romance, fun, and socializing readily available.
Occupations
Executives, managers and professionals make up 80.0% of the workforce in the Downtown Silver Spring neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 99.1% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
Furthermore, the Downtown Silver Spring neighborhood has a greater proportion of government workers living in it than 95.1% 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.
Real Estate
The real estate in the Downtown Silver Spring neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 95.3% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 99.0% of American neighborhoods.
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 95.3% 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, 92.4% 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.
Modes of Transportation
A unique way of commuting is simply not to. And in the Downtown Silver Spring neighborhood, analysis shows that 32.4% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 98.0% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.
Also, in the Downtown Silver Spring neighborhood, 18.9% of people ride the train to work each day. This is a very high percentage compared to most places. In fact, NeighborhoodScout's analysis reveals that this is a higher level of train ridership than in 97.1% of the neighborhoods in America.
Car Ownership
We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the Downtown Silver Spring neighborhood has a highly unusual pattern of car ownership. 21.2% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 95.5% of U.S. neighborhoods.
Diversity
Did you know that the Downtown Silver Spring neighborhood has more Ukrainian and Lithuanian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.5% of this neighborhood's residents have Ukrainian ancestry and 1.4% have Lithuanian 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.
Migration / Stability
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 96.0% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.
The neighbors in the Downtown Silver Spring 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 56.6% 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.
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 Downtown Silver Spring neighborhood, 80.0% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is government jobs, whether they are in local, state, or federal positions, with 12.6% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (10.5%), and 7.9% 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 Downtown Silver Spring neighborhood is English, spoken by 80.8% 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 Italian (11.4%). There are also a number of people of Irish ancestry (9.1%), and residents who report German roots (8.8%), and some of the residents are also of South American ancestry (8.2%), along with some Sub-Saharan African ancestry residents (8.0%), among others. In addition, 19.8% 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 30 and 45 minutes commuting one-way to work (32.2% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (35.7%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (18.9%) and 7.5% of residents also hop out the door and walk to work 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.
