Real Estate Prices and Overview
West Peabody median real estate prices are $365,855, which is more expensive than 67.4% 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. Rents here are currently lower in price then 47.1% of Massachusetts neighborhoods.
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
Of note is NeighborhoodScout's research finding that the
West Peabody 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
West Peabody community truly stands out from the rest in this regard.
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, with a real estate vacancy rate of only 0.0%, the West Peabody 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.
The Neighbors: Income
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 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
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 shear diversity of neighborhoods, allowing you to find the type that fits
your lifestyle and aspirations.
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 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 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.