Pennypack Park median real estate price is $248,827, which is more expensive than 42.7% of the neighborhoods in Pennsylvania and 30.5% of the neighborhoods in the U.S.
The average rental price in Pennypack Park is currently $2,265, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 75.0% of the neighborhoods in Pennsylvania.
Pennypack Park is a rural neighborhood (based on population density) located in Philadelphia, Pennsylvania.
Pennypack Park real estate is primarily made up of small (studio to two bedroom) small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Pennypack Park neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
In Pennypack 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 Pennypack Park is very tight compared to the demand for property here.
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
Renter-occupied real estate is dominant in the Pennypack Park neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 91.6%, which is higher than 97.2% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so. This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the Pennypack Park neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.
In addition, three-deckers, duplexes, old Victorian homes cut up into apartments. Independent stores on the corner selling pizza. These are some of the hallmarks of neighborhoods with lots of small 2, 3, and 4 unit apartment buildings. The Pennypack Park neighborhood really stands out in this regard, however, as it is dominated by such small apartment buildings more than nearly any other neighborhood in America. This is a stunning visual and lifestyle example of this type of neighborhood. In fact, 100.0% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 100.0% of America's neighborhoods.
Furthermore, homes built from 2000 through today make up a higher proportion of the Pennypack Park neighborhood's real estate landscape than 100.0% 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, 100.0% of the residential real estate here is classified as newer. In fact, the concentration of newer homes here is so great that they completely dominate the landscape. In most neighborhoods, there is a mixture of ages of residential real estate, but here it is almost completely built during one time frame: 2000 through today.
Also of note, the Pennypack Park 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 100.0% 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.
People
Of note is NeighborhoodScout's research finding that the Pennypack Park 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 Pennypack Park community truly stands out from the rest in this regard.
Length of Commute
Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the Pennypack Park neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 52.0% 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 100.0% of all neighborhoods in America.
Modes of Transportation
Our research revealed that more commuters here take the bus to work (31.3% ride the bus) than 99.7% 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.
Diversity
Did you know that the Pennypack Park neighborhood has more Cuban and Slovak ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 7.9% of this neighborhood's residents have Cuban ancestry and 2.0% have Slovak ancestry.
Pennypack Park is also pretty special linguistically. Significantly, 8.6% of its residents five years old and above primarily speak Italian at home. While this may seem like a small percentage, it is higher than 97.2% of the neighborhoods in America.
Migration / Stability
Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. In the Pennypack Park neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 95.4% 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 Pennypack Park 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 100.0% of U.S. neighborhoods. 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 Pennypack Park neighborhood, 62.5% 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 37.5% of the residents employed.
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 Pennypack Park neighborhood is English, spoken by 94.0% of households. Other important languages spoken here include Italian and Spanish.
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 Pennypack Park neighborhood in Philadelphia, PA, residents most commonly identify their ethnicity or ancestry as English (9.6%). There are also a number of people of Cuban ancestry (7.9%), and residents who report Sub-Saharan African roots (7.4%), and some of the residents are also of African ancestry (7.4%), along with some Irish ancestry residents (7.4%), among others.
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 Pennypack Park neighborhood spend longer than one hour commuting one-way to work (52.0% of working residents), one of the longer commutes in America, which is a potential downside for residents of this neighborhood.
Here most residents (46.9%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (31.3%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
