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Real Estate Prices & Overview

Olney median real estate price is $165,845, which is less expensive than 81.7% of Pennsylvania neighborhoods and 86.0% of all U.S. neighborhoods.

The average rental price in Olney is currently $1,752, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 50.1% of Pennsylvania neighborhoods.

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

Olney 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 neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

Real estate vacancies in Olney are 5.3%, which is lower than one will find in 63.3% of American neighborhoods. Demand for real estate in Olney 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.

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

If you love row houses and attached homes, you will probably really like the Olney 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, 82.6% of the residential real estate here is classified as row houses and attached homes.

In addition, the Olney neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 32,917 persons per square mile in the neighborhood, it is more packed with people than 97.3% of the nation's neighborhoods. Even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The Olney neighborhood is among the top 5% of American neighborhoods in terms of walkability.

Modes of Transportation

More people ride the bus in this neighborhood each day to get to work than 97.6% of U.S. neighborhoods.

People

NeighborhoodScout's exclusive research revealed that 94.8% of the adult residents in the Olney neighborhood do not have a 4-year college degree, which is a lower rate of college graduated adults than found in 97.2% of the neighborhoods in America.

In addition, with a nice mix of college students, safety from crime, and decent walkability, the Olney neighborhood rates highly as a college student friendly place to live, and one that college students and their parents may want to consider. NeighborhoodScout's analysis shows that it rates more highly for a good place for college students to live than 88.2% of the neighborhoods in PA. This often also means that the area has certain amenities and services geared towards college students, from undergraduates to graduate students.

Occupations

The Olney neighborhood has a greater proportion of government workers living in it than 95.4% 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.

Migration / Stability

The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. More residents of the Olney neighborhood live here today that also were living in this same neighborhood five years ago than is found in 100.0% of U.S. neighborhoods. This neighborhood is really made up of people who know each other, don't move often, and have lived here in this very neighborhood for quite a while.

Diversity

Did you know that the Olney neighborhood has more African and Puerto Rican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 12.6% of this neighborhood's residents have African ancestry and 15.3% have Puerto Rican ancestry.

Olney is also pretty special linguistically. Significantly, 5.9% 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 99.9% of the neighborhoods in America.

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 Olney neighborhood in Philadelphia are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 45.2% of the neighborhoods in America. With 30.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 81.9% of U.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 Olney neighborhood, 29.0% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 28.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (26.7%), and 15.7% in manufacturing and laborer 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 neighborhood is English, spoken by 63.8% of households. Other important languages spoken here include Spanish, Mon-Khmer (the dominant language of Cambodia), Vietnamese and Italian.

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 neighborhood in Philadelphia, PA, residents most commonly identify their ethnicity or ancestry as Asian (16.6%). There are also a number of people of Puerto Rican ancestry (15.3%), and residents who report Sub-Saharan African roots (12.6%), and some of the residents are also of African ancestry (12.6%), along with some German ancestry residents (4.9%), among others. In addition, 20.3% 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 neighborhood spend between 45 minutes and one hour commuting one-way to work (36.9% of working residents), longer and tougher than most commutes in America.

Here most residents (45.9%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (15.7%) and 15.3% of residents also ride the bus 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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