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Real Estate Prices & Overview

Olney East median real estate price is $175,138, which is less expensive than 79.2% of Pennsylvania neighborhoods and 84.2% of all U.S. neighborhoods.

The average rental price in Olney East is currently $2,150, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 71.5% of the neighborhoods in Pennsylvania.

Olney East is a densely urban neighborhood (based on population density) located in Philadelphia, Pennsylvania.

Olney East real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) townhomes and small apartment buildings. Most of the residential real estate is owner occupied. Many of the residences in the Olney East neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

In Olney East, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Olney East is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

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

With a real estate vacancy rate of only 0.0%, the Olney East neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.

In addition, if you love row houses and attached homes, you will probably really like the Olney East 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, 62.5% of the residential real estate here is classified as row houses and attached homes.

Modes of Transportation

Our research revealed that more commuters here take the bus to work (15.8% ride the bus) than 97.8% of all American neighborhoods. If you like the idea of leaving your car and home and hopping the bus to work, this might be a good neighborhood for you to consider.

Length of Commute

Whether walking, biking, riding, or driving, the length of one's commute is an important factor for one's quality of life. The Olney East neighborhood stands out for its commute length, according to NeighborhoodScout's analysis. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the Olney East neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 12.0% of commuters here travel more than one hour just one-way to work. That is more than two hours per day. This percentage with two-hour + round-trip commutes is higher than NeighborhoodScout found in 97.3% of all neighborhoods in America.

Diversity

Did you know that the Olney East neighborhood has more Haitian and Dominican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 9.4% of this neighborhood's residents have Haitian ancestry and 4.2% have Dominican ancestry.

Olney East is also pretty special linguistically. Significantly, 10.5% 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 100.0% 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 Olney East neighborhood in Philadelphia are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 90.1% of U.S. neighborhoods. With 42.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 90.6% of U.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 Olney East neighborhood, 28.6% of the working population is employed in clerical, assistant, and tech support occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 25.2% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (24.0%), and 22.2% in executive, management, and professional 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 Olney East neighborhood is English, spoken by 57.4% of households. Other important languages spoken here include Mon-Khmer (the dominant language of Cambodia), Spanish, French and Vietnamese.

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 Olney East neighborhood in Philadelphia, PA, residents most commonly identify their ethnicity or ancestry as Asian (24.7%). There are also a number of people of Haitian ancestry (9.4%), and residents who report Sub-Saharan African roots (8.4%), and some of the residents are also of Puerto Rican ancestry (6.8%), along with some German ancestry residents (6.6%), among others. In addition, 27.9% of the residents of this neighborhood were born in another country.

Getting to Work

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 Olney East 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. However, there is also a significant group of residents (12.0%) who commute over an hour in each direction.

Here most residents (60.8%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (15.8%) and 7.0% 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.


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