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Real Estate Prices & Overview

Olmsted Falls Southwest median real estate price is $468,745, which is more expensive than 89.9% of the neighborhoods in Ohio and 62.6% of the neighborhoods in the U.S.

The average rental price in Olmsted Falls Southwest is currently $2,432, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 94.4% of the neighborhoods in Ohio.

Olmsted Falls Southwest is a suburban neighborhood (based on population density) located in Olmsted Falls, Ohio.

Olmsted Falls Southwest real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more 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 Olmsted Falls Southwest neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

In Olmsted Falls Southwest, the current vacancy rate is 2.5%, which is a lower rate of vacancies than 83.2% of all neighborhoods in the U.S. This means that the housing supply in Olmsted Falls Southwest 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.

People

In a nation where 1 out of every 4 children lives in poverty, the Olmsted Falls Southwest neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

In addition, a majority of the adults in the Olmsted Falls Southwest neighborhood are wealthy and educated executives. They own stately homes that tend to maintain high real estate appreciation rates. Their upper-level careers keep them busy, but allow them to live comfortably. If you're an executive and want to keep similar company, consider settling in this neighborhood, rated as an executive lifestyle "best choice" neighborhood for Ohio by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 96.8% of the neighborhoods in Ohio. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for families with school-aged children and urban sophisticates.

Real Estate

One way that the Olmsted Falls Southwest neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 95.8% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.

In addition, homes built from 2000 through today make up a higher proportion of the Olmsted Falls Southwest neighborhood's real estate landscape than 95.8% of the neighborhoods in America. When you are driving around this neighborhood, you'll notice right away that it is one of the newest built of any, with the smell of fresh paint, and the look of young landscaping nearly everywhere you look. In fact, 69.7% of the residential real estate here is classified as newer.

Diversity

Did you know that the Olmsted Falls Southwest neighborhood has more Lithuanian and Hungarian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 14.9% of this neighborhood's residents have Lithuanian ancestry and 4.0% have Hungarian ancestry.

Olmsted Falls Southwest is also pretty special linguistically. Significantly, 9.4% of its residents five years old and above primarily speak Polish at home. While this may seem like a small percentage, it is higher than 97.8% 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 Olmsted Falls Southwest neighborhood in Olmsted Falls 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 93.4% 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.

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 Olmsted Falls Southwest neighborhood, 55.6% 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 18.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (13.4%), and 12.5% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Olmsted Falls Southwest neighborhood is English, spoken by 98.1% of households. Some people also speak Polish (9.4%).

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 Olmsted Falls Southwest neighborhood in Olmsted Falls, OH, residents most commonly identify their ethnicity or ancestry as German (33.8%). There are also a number of people of Irish ancestry (16.8%), and residents who report Lithuanian roots (14.9%), and some of the residents are also of Italian ancestry (10.1%), along with some Polish ancestry residents (8.5%), among others.

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 Olmsted Falls Southwest neighborhood spend between 15 and 30 minutes commuting one-way to work (39.3% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (78.6%) 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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