Cheap Homes in Olney, MD

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Top Reasons To Live In Olney, MD In 2024

Olney is located in Montgomery, Maryland, with an estimated municipal population of 35,191 residents. All of the best foreclosed homes for sale in Olney are located in the following zip code areas on 20860 20832 20833 20853 20830. The estimated population per square kilometer (.62 miles) in Olney is 839.

Cost Of Living In Olney, MD

So, about how much do homes cost in Olney? The most recent median value of resident-owned homes in Olney is 506,743. An estimated 88.3 percent of households in Olney own their homes, with an average family size of 3.33. The median household income in Olney is 143,396, with68 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Olney, the median commute time of resident workers (in minutes) is 34.4. And last, but certainly not least, are you looking for homes to rent in Olney? If so, the average rent price paid by renters in Olney is 1,948, according to recent statistics.

Diversity And Demographics In Olney, Maryland

Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Olney, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.

The median age of residents in Olney is 42.3, split between 49.1 percent male versus 50.9 female. The percentage of residents who report being married in Olney is 60.9, with an average family size of 3.33.

The percentage of residents who report their race in Olney is as follows:

White 68.3%
Black / African American 12.4%
Asian 10.7%
American Indian / Alaskan Native 0.6%
Native Hawaiian / Other Pacifc Islander 0%
Multi-racial 5%
Other 3.1%

Looking for family-friendly neighborhoods in and/or near Olney? Or maybe you are searching for 55+ active adult communities in and/or near Olney?

The percentage of residents who report their age in Olney is as follows:

Under 10 11.6%
Aged 10-19 13.7%
20s 10.7%
30s 10.7%
40s 13.8%
50s 16.8%
60s 12.1%
70s 7.3%
80+ 3.1%

Best Schools In Olney, Maryland

It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Olney with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Olney.

Pros And Cons Of Living In Olney, Maryland

How do you know that living in -- or moving to -- Olney is right where you need to be? Perhaps you grew up in Olney or already live nearby; therefore, the decision to buy a home in Olney is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Olney for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.

Here are some questions to ask yourself when shopping for foreclosed homes for sale in Olney:

  • What type of neighborhood environment (suburban, urban, rural, etc.) do you prefer?
  • What types of shopping (mom and pop, mall, big box), restaurants (fast food, chain, local) and businesses (small, big, mixed) would you like nearby?
  • What leisure-time activities (golf, biking, hiking, etc.) do you enjoy?
  • What type of commute (car, plane, home office) do you seek?

In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Olney.

Reasons To Move To Olney, Maryland, In 2024

Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Olney can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Olney, meanwhile, can field multiple offers from more qualified buyers.

Cheap Homes in Olney, MD


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