Real Estate Prices and Overview
West Peabody median real estate prices are $365,855, which is more expensive than 67.5% of the neighborhoods
in Massachusetts and 84.7% of the
neighborhoods in the U.S.
Average rental prices in West Peabody are currently
$1,144, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 67.5%
of the neighborhoods in Massachusetts.
West Peabody is a suburban neighborhood (based on population
density) located in Peabody, Massachusetts.
West Peabody real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and townhomes.
Most of the residential real estate is owner occupied. Many of
the residences in the West Peabody neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
In West Peabody, 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 West Peabody
is very tight compared to the demand for property here.
Notable & Unique Neighborhood Characteristics
Many things matter about a neighborhood, but the first thing most people notice
is the way a neighborhood looks and its particular character. For example, one
might notice whether the buildings all date from a certain time period or whether
shop signs are in multiple languages. This particular neighborhood in Peabody,
the West Peabody neighborhood, has some outstanding things about the way it
looks and its way of life that are worth highlighting.
Notable & Unique: People
In a nation where 1 out of every 4 children lives in poverty, the
West Peabody neighborhood stands out as being ranked among
the lowest 0.1% of neighborhoods affected by this global
Notable & Unique: Diversity
Did you know that the West Peabody neighborhood has more
Greek and Italian ancestry people living in it than nearly
any neighborhood in America? It's true! In fact, 4.5% of
this neighborhood's residents have Greek ancestry and 27.6% have Italian ancestry.
West Peabody is also pretty special linguistically. Significantly, 2.8% 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 98.7% of the neighborhoods in America.
Notable & Unique: Real Estate
In addition, 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 West Peabody 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.
The Neighbors: Income
There are two complimentary 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 West Peabody neighborhood in Peabody 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 91.0% 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 99.9%
of America's neighborhoods.
The Neighbors: Occupations
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 West Peabody neighborhood, 36.8%
of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is
manufacturing and laborer occupations, with 22.4% of the residents employed.
Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants
(22.1%), and 18.7% in clerical, assistant, and tech support occupations.
The Neighbors: 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 West Peabody neighborhood in Peabody, MA, residents
most commonly identify their ethnicity or ancestry as Italian
(27.6%). There are also a number of people of Irish ancestry (19.6%) , and residents who report English roots (6.2%) , and some of the residents are also of Polish ancestry (5.3%) , along with some Greek ancestry residents (4.5%), among others. In addition, 10.5% of the residents of this neighborhood were born in another country.
The Neighbors: Languages
The most common language spoken in the West Peabody
neighborhood is English, spoken by 87.3% of households. Some people also speak Polish (2.8%).
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 West Peabody neighborhood spend
between 15 and 30 minutes commuting one-way to work (47.3% of working
residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (89.6%) 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 (8.1%) . In a neighborhood like this, as in most of the nation, many residents find owning
a car useful for getting to work.