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Real Estate Prices & Overview

Hallowell median real estate price is $690,305, which is more expensive than 80.7% of the neighborhoods in Maryland and 79.9% of the neighborhoods in the U.S.

The average rental price in Hallowell is currently $3,629, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 87.3% of the neighborhoods in Maryland.

Hallowell is an urban neighborhood (based on population density) located in Olney, Maryland.

Hallowell real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Hallowell 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 Hallowell are 3.5%, which is lower than one will find in 76.9% of American neighborhoods. Demand for real estate in Hallowell 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.

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 Olney, the Hallowell neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

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 3.7% of America's neighborhoods are wealthier than the Hallowell 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. As one would expect in a considerably wealthy neighborhood such as this, Hallowell also has one of the lowest ratings of child poverty in the nation.

In addition, if you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the Hallowell neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 96.6% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the Hallowell neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for highly educated executives.

Real Estate

Most neighborhoods are composed of a mixture of ages of homes, but the Hallowell stands out as rather unique in having nearly all of its residential real estate built in one time period, namely between 1970 and 1999, generally considered to be established, but not old housing. What you'll sense when you look around or drive the streets of this neighborhood is that many of the residences look the same because of this similarity of age. In fact, 98.1% of the residential real estate here was built in this one time period.

In addition, if you love row houses and attached homes, you will probably really like the Hallowell neighborhood. The ambiance, the charm, of row houses is something special. And in sheer abundance of row houses, this neighborhood truly stands out. The real estate here has a higher proportion of row houses and attached homes than nearly any neighborhood in America. In fact, 41.3% of the residential real estate here is classified as row houses and attached homes.

Occupations

The government often provides some of the more stable jobs in the economy. From local, to state, to federal government workers, the government can also be a major employer. What NeighborhoodScout's analysis revealed, is that the Hallowell neighborhood in particular stands out when compared nationally for the proportion of its working residents who are employed by the government. At 23.8% of its workforce, this neighborhood has a greater concentration of government workers than 99.6% of U.S. neighborhoods.

Diversity

Did you know that the Hallowell neighborhood has more Brazilian and Slovak ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.0% of this neighborhood's residents have Brazilian ancestry and 1.8% have Slovak ancestry.

Hallowell is also pretty special linguistically. Significantly, 0.1% of its residents five years old and above primarily speak Mon-Khmer, which is the dominant language of Cambodia, at home. While this may seem like a small percentage, it is higher than 95.0% of the neighborhoods in America.

The Neighbors

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 Hallowell neighborhood in Olney 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 96.3% 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 Hallowell neighborhood, 68.9% 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 23.8% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (15.2%), and 14.4% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

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 Hallowell neighborhood is English, spoken by 77.2% of households. Other important languages spoken here include Spanish and Langs. of India.

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 Hallowell neighborhood in Olney, MD, residents most commonly identify their ethnicity or ancestry as Irish (14.3%). There are also a number of people of Asian ancestry (12.6%), and residents who report German roots (8.9%), and some of the residents are also of Italian ancestry (7.8%), along with some Polish ancestry residents (5.2%), among others. In addition, 22.2% 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 Hallowell neighborhood spend between 45 minutes and one hour commuting one-way to work (33.1% of working residents), longer and tougher than most commutes in America.

Here most residents (59.7%) 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 (6.5%) and 5.9% 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.


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