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
Of note is NeighborhoodScout's research finding that the Downtown Silver Spring neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Downtown Silver Spring community truly stands out from the rest in this regard.
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, if knowledge is power, then imagine the cumulative power of one neighborhood where many of the adults have earned an advanced degree, such as a Masters, law degree, medical degree, or even a Ph.D. This is certainly the case in the Downtown Silver Spring neighborhood, where 42.5% have earned an advanced degree. Compare that to the average neighborhood in America, where just 13.4% of adults have completed a post-graduate degree, and you can see why this neighborhood is a stand out. In fact, this neighborhood has a higher rate of adults with an advanced degree than 97.8% of the neighborhoods in America.
Finally, a unique characteristic about the people in the Downtown Silver Spring neighborhood is that a majority of them are young, single professionals. In fact, there are more young, single professionals in this one community than 97.2% of neighborhoods in the U.S. Here you'll find an active nightlife nearby with lots of opportunities to flirt and find romance.
Occupations
The Downtown Silver Spring neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 99.1% of the neighborhoods in America. In fact, 80.0% 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.
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
One of the really unique and interesting things about the look and setting of the Downtown Silver Spring neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 95.3% 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 99.0% of all neighborhoods in America.
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
In the Downtown Silver Spring neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 32.4% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 98.0% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.
Also, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 18.9% of the Downtown Silver Spring neighborhood's commuters ride the train to and from work each day, which is more than we found in 97.1% of America's neighborhoods.
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
Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Downtown Silver Spring neighborhood. 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.
A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.
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 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 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.
