Old Greenwich median real estate price is $3,341,054, which is more expensive than 98.5% of the neighborhoods in Connecticut and 99.0% of the neighborhoods in the U.S.
The average rental price in Old Greenwich is currently $6,240, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 98.9% of the neighborhoods in Connecticut.
Old Greenwich is a suburban neighborhood (based on population density) located in Greenwich, Connecticut. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).
Old Greenwich real estate is primarily made up of large (four, five or more bedroom) to medium sized (three or four bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Old Greenwich neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built before 1940.
Real estate vacancies in Old Greenwich are 5.7%, which is lower than one will find in 62.0% of American neighborhoods. Demand for real estate in Old Greenwich 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.
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.
Real Estate
Old Greenwich is a neighborhood that is on the ocean, a bay, or inlet. Many times, such places have amenities that bring locals and visitors to the waterfront for recreational activities or to check out the scenery. In some densely populated areas that are less financially well-off, the neighborhood waterfront can be relatively industrial and less open to recreation. In addition to being coastal, Old Greenwich is a very nautical neighborhood, meaning that it is somewhat historic, walkable, densely populated and on the water. This gives the neighborhood a very nautical feel, with some seaside and shipping feel, which some may really enjoy the sights and sounds of.
In addition, one way that the Old Greenwich neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 97.3% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.
People
A majority of the adults in the Old Greenwich neighborhood are wealthy and educated executives. They own stately homes that tend to maintain high real estate appreciation rates. Their upper-level careers keep them busy, but allow them to live comfortably. If you're an executive and want to keep similar company, consider settling in this neighborhood, rated as an executive lifestyle "best choice" neighborhood for Connecticut by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 99.8% of the neighborhoods in Connecticut. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for urban sophisticates and families with school-aged children.
In addition, if you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 0.5% of America's neighborhoods are wealthier than the Old Greenwich neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe.
Also, the rate of college educated adults in the Old Greenwich neighborhood is a unique characteristic of the neighborhood. 83.8% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 34.3% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 98.8% of all U.S. neighborhoods.
Finally, priests and therapists would like to think they know the secrets to a truly successful marriage, but according to NeighborhoodScout's research, the folks of the Old Greenwich neighborhood may actually hold the key. 68.9% of its residents are married, which is a higher percentage than is found in 95.3% of the neighborhoods in America.
Modes of Transportation
If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 22.0% of the Old Greenwich neighborhood's commuters ride the train to and from work each day, which is more than we found in 97.4% of America's neighborhoods.
Occupations
The Old Greenwich neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 97.3% of the neighborhoods in America. In fact, 73.8% 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.
Diversity
Did you know that the Old Greenwich neighborhood has more Lithuanian and Eastern European ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.8% of this neighborhood's residents have Lithuanian ancestry and 2.8% have Eastern European ancestry.
Old Greenwich is also pretty special linguistically. Significantly, 1.3% of its residents five years old and above primarily speak Japanese at home. While this may seem like a small percentage, it is higher than 98.2% 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 Old Greenwich neighborhood in Greenwich 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 99.5% of the neighborhoods in America. In addition, 1.8% 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 75.9% 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 Old Greenwich neighborhood, 73.8% 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 16.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (4.7%), and 4.7% in manufacturing and laborer 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 Old Greenwich neighborhood is English, spoken by 85.0% of households. Other important languages spoken here include Spanish and Chinese.
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 Old Greenwich neighborhood in Greenwich, CT, residents most commonly identify their ethnicity or ancestry as Italian (19.4%). There are also a number of people of English ancestry (16.3%), and residents who report Irish roots (13.3%), and some of the residents are also of Asian ancestry (8.7%), along with some German ancestry residents (7.1%), among others. In addition, 18.2% of the residents of this neighborhood were born in another country.
Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Old Greenwich neighborhood spend between 15 and 30 minutes commuting one-way to work (30.4% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (49.5%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (22.0%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
