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Real Estate Prices & Overview

Aspen Park median real estate price is $459,517, which is more expensive than 49.8% of the neighborhoods in Maryland and 62.2% of the neighborhoods in the U.S.

The average rental price in Aspen Park is currently $3,852, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 91.2% of the neighborhoods in Maryland.

Aspen Park is a suburban neighborhood (based on population density) located in Pasadena, Maryland. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).

Aspen Park 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 Aspen Park neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

In Aspen Park, 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 Aspen Park is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

Real Estate

Do you like a coastal setting? If so, this neighborhood may be to your liking. The Aspen Park neighborhood is on the ocean, a bay, or inlet. Often such coastal places have amenities and recreational activities on the waterfront that are attractive to residents and visitors alike. In addition to being coastal, Aspen Park 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, with a real estate vacancy rate of only 0.0%, the Aspen Park 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.

Furthermore, many people dream of living along a street lined with row houses or other attached homes. Such places do often have an abundance of charm. If you are one of these people, the Aspen Park neighborhood could be your paradise. With 27.4% of the homes and real estate here classified as rowhouses or other attached homes, this neighborhood brims with opportunity to find the right place for you. Only 3.8% of U.S. neighborhoods have more row houses than this neighborhood, making it one of the most interesting things about this special neighborhood.

Occupations

With 5.4% of employed workers living in the Aspen Park neighborhood active in the military, this neighborhood has the distinction of having a higher proportion of people in the military than 98.8% of American neighborhoods. This is a major shaper of the neighborhood's culture and character.

Modes of Transportation

In the Aspen Park neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 29.1% 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 96.4% 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.

People

NeighborhoodScout's analysis shows that the Aspen Park neighborhood has a greater concentration of residents currently enrolled in college than 96.2% of the neighborhoods in the U.S. With 12.7% of the population here attending college, this is very much a college-focused neighborhood.

Diversity

Did you know that the Aspen Park neighborhood has more Iranian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.8% of this neighborhood's residents have Iranian ancestry.

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 Aspen Park neighborhood in Pasadena are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 63.5% of the neighborhoods in America. In addition, 8.3% 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 55.0% 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 Aspen Park neighborhood, 45.9% 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 32.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (12.3%), and 10.8% in government jobs, whether they are in local, state, or federal positions.

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 Aspen Park neighborhood is English, spoken by 82.3% of households. Other important languages spoken here include Spanish, Polish 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 Aspen Park neighborhood in Pasadena, MD, residents most commonly identify their ethnicity or ancestry as German (11.1%). There are also a number of people of Irish ancestry (9.0%), and residents who report English roots (7.5%), and some of the residents are also of Polish ancestry (5.9%), along with some Norwegian ancestry residents (4.8%), among others. In addition, 14.1% 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 Aspen Park neighborhood spend between 15 and 30 minutes commuting one-way to work (40.2% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (68.1%) drive alone in a private automobile to get to work. 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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