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Real Estate Prices & Overview

Lynnway median real estate price is $636,252, which is more expensive than 47.7% of the neighborhoods in Massachusetts and 77.4% of the neighborhoods in the U.S.

The average rental price in Lynnway is currently $1,053, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 99.6% of Massachusetts neighborhoods.

Lynnway is a suburban neighborhood (based on population density) located in Lynn, Massachusetts. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).

Lynnway real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Lynnway neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built before 1940.

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

Notable & Unique Neighborhood Characteristics

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

Do you like a coastal setting? If so, this neighborhood may be to your liking. The Lynnway 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, Lynnway 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 Lynnway 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.

Modes of Transportation

Our research revealed that more commuters here take the bus to work (22.8% ride the bus) than 99.1% 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 Lynnway neighborhood has more Dominican and Yugoslav ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 12.0% of this neighborhood's residents have Dominican ancestry and 1.2% have Yugoslav ancestry.

Lynnway is also pretty special linguistically. Significantly, 1.9% 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 99.5% of the neighborhoods in America.

Migration / Stability

Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Lynnway neighborhood. What is interesting to note, is that the Lynnway neighborhood has a greater percentage of residents born in another country (54.9%) than are found in 98.6% of all U.S. neighborhoods.

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 Lynnway neighborhood in Lynn are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 93.2% of U.S. neighborhoods. With 24.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 75.0% of U.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 Lynnway neighborhood, 37.1% 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 manufacturing and laborer occupations, with 26.0% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (21.2%), and 15.7% in executive, management, and professional 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 Lynnway neighborhood is Spanish, spoken by 42.6% of households. Other important languages spoken here include English, Portuguese, Urdu (the national language of Pakistan) and French.

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 Lynnway neighborhood in Lynn, MA, residents most commonly identify their ethnicity or ancestry as Asian (14.4%). There are also a number of people of Dominican ancestry (12.0%), and residents who report Puerto Rican roots (6.3%), and some of the residents are also of Sub-Saharan African ancestry (5.6%), along with some Portuguese ancestry residents (2.3%), among others. In addition, 54.9% 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 Lynnway neighborhood spend between 30 and 45 minutes commuting one-way to work (27.2% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (53.2%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (22.8%) and 17.7% of residents also carpool with coworkers, friends, or neighbors 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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