Chevy Chase Terrace / Somerset Heights median real estate price is $1,852,336, which is more expensive than 99.3% of the neighborhoods in Maryland and 97.9% of the neighborhoods in the U.S.
The average rental price in Chevy Chase Terrace / Somerset Heights is currently $3,410, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 83.1% of the neighborhoods in Maryland.
Chevy Chase Terrace / Somerset Heights is a suburban neighborhood (based on population density) located in Bethesda, Maryland.
Chevy Chase Terrace / Somerset Heights 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 Chevy Chase Terrace / Somerset Heights neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.
Real estate vacancies in Chevy Chase Terrace / Somerset Heights are 5.4%, which is lower than one will find in 63.9% of American neighborhoods. Demand for real estate in Chevy Chase Terrace / Somerset Heights 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 Bethesda, the Chevy Chase Terrace / Somerset Heights neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
Wealth makes most things in life easier, and a few things harder. If you are wealthy and enjoy keeping up with the Jones', this neighborhood will interest you. In fact, according to NeighborhoodScout's research, the Chevy Chase Terrace / Somerset Heights neighborhood is wealthier than 98.4% of the neighborhoods in the United States. Residents here are truly in a unique situation even when compared to other Americans, based on the sheer amount of wealth concentrated here. Even in times of economic downturn, residents of this neighborhood, as a group, suffered less and recovered more quickly. This is indeed a stand-out characteristic of this neighborhood. As one would expect in a considerably wealthy neighborhood such as this, Chevy Chase Terrace / Somerset Heights also has one of the lowest ratings of child poverty in the nation.
In addition, 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 63.5% 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 99.9% 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.
Also, think about the people you know personally. How many of them would purchase box seats to opening night at the symphony? How many of them regularly attend gallery openings, or are the first to reserve tickets to opening night at the ballet? If they're like most of us, they don't do any of these things. But if you're among an exclusive crowd of wealthy and refined patrons of the arts, then you'll feel right at home in the Chevy Chase Terrace / Somerset Heights neighborhood: a neighborhood in which more "urban sophisticates" live than 99.1% of neighborhoods across the U.S. Here, your neighbors are defined as having urbane tastes in literature, music, live theatre and the arts. They are wealthy, educated, travel in style, and live a big city lifestyle whether or not they live in or near a big city. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for college students and highly educated executives.
Occupations
Executives, managers and professionals make up 82.1% of the workforce in the Chevy Chase Terrace / Somerset Heights neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 99.4% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
Furthermore, the Chevy Chase Terrace / Somerset Heights neighborhood has a greater proportion of government workers living in it than 96.9% 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.
Modes of Transportation
A unique way of commuting is simply not to. And in the Chevy Chase Terrace / Somerset Heights neighborhood, analysis shows that 37.7% 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 99.3% 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, would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the Chevy Chase Terrace / Somerset Heights neighborhood is a fantastic option for bicycle commuters, as 2.8% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 95.3% of the neighborhoods in America.
Finally, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 9.9% of the Chevy Chase Terrace / Somerset Heights neighborhood's commuters ride the train to and from work each day, which is more than we found in 95.0% of America's neighborhoods.
Diversity
Did you know that the Chevy Chase Terrace / Somerset Heights neighborhood has more Iranian and Eastern European ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.7% of this neighborhood's residents have Iranian ancestry and 5.2% have Eastern European ancestry.
Chevy Chase Terrace / Somerset Heights is also pretty special linguistically. Significantly, 1.6% of its residents five years old and above primarily speak Persian at home. While this may seem like a small percentage, it is higher than 98.8% of the neighborhoods in America.
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 Chevy Chase Terrace / Somerset Heights neighborhood in Bethesda 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 98.4% 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.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the Chevy Chase Terrace / Somerset Heights neighborhood, 82.1% 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 14.8% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (12.5%), and 4.5% 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 Chevy Chase Terrace / Somerset Heights neighborhood is English, spoken by 75.0% of households. Other important languages spoken here include French, Spanish, German/Yiddish and Chinese.
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 Chevy Chase Terrace / Somerset Heights neighborhood in Bethesda, MD, residents most commonly identify their ethnicity or ancestry as English (16.5%). There are also a number of people of Irish ancestry (11.2%), and residents who report German roots (10.9%), and some of the residents are also of Russian ancestry (7.8%), along with some Polish ancestry residents (5.4%), among others. In addition, 18.3% 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 Chevy Chase Terrace / Somerset Heights neighborhood spend between 15 and 30 minutes commuting one-way to work (34.3% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (39.5%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (9.9%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
