New London, CT (Bank St / Ocean Ave)








About New London, CT (Bank St / Ocean Ave)


Real Estate Prices and Overview

Bank St / Ocean Ave median real estate price is $199,351, which is less expensive than 75.9% of Connecticut neighborhoods and 57.9% of all U.S. neighborhoods.

The average rental price in Bank St / Ocean Ave is currently $1,297, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 82.7% of Connecticut neighborhoods.

Bank St / Ocean Ave is an urban neighborhood (based on population density) located in New London, Connecticut.

Bank St / Ocean Ave real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Bank St / Ocean Ave neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1940 and 1969.

Bank St / Ocean Ave has a 11.1% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 61.0% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.

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.

Notable & Unique: People

Of note, 67.8% of the children in this area live in poverty; an extraordinarily high percentage compared to other neighborhoods in the nation. In a nation where approximately one in four children grows up in poverty, this neighborhood stands out for the depth of the problem manifested here.

Notable & Unique: Real Estate

Corner bodegas, stores on the first floor and apartments above, former grand Victorian residences converted into apartments, three-deckers built shoulder-to-shoulder, duplexes. Such building types define the real estate of neighborhoods dominated by small 2, 3, and 4 unit apartment buildings. Many are in older core neighborhoods of Eastern and Midwestern cities, or historic town centers in their hinterlands. If you wax romantic about the look and feel of such neighborhoods, with fresh pizza, falafel and an independent florist at the corner, then you might find the Bank St / Ocean Ave neighborhood worth a close look. This neighborhood is an absolutely outstanding example of the dominance of small 2, 3, and 4 unit apartment buildings compared to neighborhoods across the nation, as they make up a substantial portion of this neighborhood's real estate stock. In fact, no less than 48.9% of the real estate here is made up of such dwellings, which is higher than 97.9% of all U.S. neighborhoods.

In addition, do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The Bank St / Ocean Ave neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 72.8% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 98.6% of the neighborhoods in the United States.

Notable & Unique: Modes of Transportation

More people in Bank St / Ocean Ave choose to walk to work each day (11.6%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.

Notable & Unique: Diversity

Did you know that the Bank St / Ocean Ave neighborhood has more West Indian and Welsh ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 0.5% of this neighborhood's residents have West Indian ancestry and 3.5% have Welsh ancestry.


The Neighbors

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 Bank St / Ocean Ave neighborhood in New London are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 79.7% of U.S. neighborhoods. With 67.8% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 98.2% of U.S. neighborhoods.

The Neighbors: Occupations

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Bank St / Ocean Ave neighborhood, 34.7% 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 26.6% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (20.5%), and 18.1% in clerical, assistant, and tech support occupations.

The Neighbors: Languages

The most common language spoken in the Bank St / Ocean Ave neighborhood is English, spoken by 68.7% of households. Some people also speak Spanish (22.9%).

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 Bank St / Ocean Ave neighborhood in New London, CT, residents most commonly identify their ethnicity or ancestry as Puerto Rican (19.5%). There are also a number of people of Italian ancestry (9.9%), and residents who report English roots (9.7%), and some of the residents are also of Irish ancestry (9.2%), along with some Dominican ancestry residents (4.9%), among others. In addition, 20.5% 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 Bank St / Ocean Ave neighborhood spend between 15 and 30 minutes commuting one-way to work (41.7% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (67.9%) 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 (12.8%) and 11.6% of residents also hop out the door and walk to work 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.


Neighborhood Real Estate Data

Source
Real Estate Data Tutorial

Analytics built by:   Location, Inc.

Raw data sources:   National Agriculture Statistics Service, U.S. Department of Agriculture, Federal Housing Finance Agency, U.S. Department of Housing and Urban Development, U.S. Bureau of the Census, U.S. Geological Service, American Community Survey.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q3 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Average Home Values

 

Median Home Value:
Locked

Median Real Estate Taxes:
Locked ( effective rate)

Neighborhood Home Prices

blankimg

Rental Market

 

Average Market Rent:
/ per month

GROSS RENTAL YIELD:
Locked

MEDIAN MONTHLY RENT BY NUMBER OF BEDROOMS

blankimg
blankimg

Setting

 
blankimg

Neighborhood Look and Feel

blankimg

Housing Market Details

 

AGE OF New London, CT (Bank St / Ocean Ave) HOMES

blankimg

TYPE OF New London, CT (Bank St / Ocean Ave) HOMES

blankimg

SIZE OF New London, CT (Bank St / Ocean Ave) HOMES

blankimg

SIZE OF New London, CT (Bank St / Ocean Ave) HOMES

blankimg

homeownership

 
blankimg

Neighborhood Demographics Data

Source
Demographics Data Tutorial

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey, U.S. Bureau of the Census, U.S. Department of Education, 50 state departments of education, U.S. Bureau of Labor Statistics, Federal Bureau of Investigation, 18,000+ local law enforcement agencies, Federal Housing Finance Agency, U.S. Geological Service, National Agricultural Statistics Service.

Date(s) & Update Frequency:   2018 (latest available). Updated annually. Please note: Unemployment data updated November 2020.

Methodology:   Unlike standardly available Census demographics, NeighborhoodScout uses dozens of custom models to transform 8.5 million raw demographic data elements from government sources into proprietary indices and insights…. Read more about Scout's Demographic Data

Lifestyle

 
blankimg

Special character

 
blankimg

Age / Marital Status

 

Gender Ratio

blankimg

Military & College Status

 
blankimg

Employment Industries in Bank St / Ocean Ave

 
info
blankimg

Commute to work

 

Means Of Transport blankimg

Vehicles Per Household

blankimg

Migration & Mobility

 

Race & Ethnic Diversity

 

Diversity Index

(100 is the most diverse)


More diverse than of U.S. neighborhoods.

blankimg

Occupations

 
info

Ancestries & Languages Spoken

 

Ancestry (top 20)

blankimg

Languages Spoken (top 20)

blankimg

Unemployment Rate

 
info
blankimg

Average Income

 

Per Capita Income

blankimg

Median Household Income

blankimg

Education

 

Percent with College Degree

blankimg

Percent with Advanced Degree

blankimg

income & education

 
info
blankimg

Neighborhood Crime Data

Source
Crime Data Tutorial

Analytics built by:   Location, Inc.

Raw data sources:   18,000 local law enforcement agencies in the U.S.

Date(s) & Update Frequency:   Reflects 2019 calendar year; released from FBI in Sept. 2020 (latest available). Updated annually. Where is 2020 data?

Methodology:   Our nationwide meta-analysis overcomes the issues inherent in any crime database, including non-reporting and reporting errors. This is possible by associating the 9.4 million reported crimes in the U.S, including over 2 million geocoded point locations…. Read more about Scout's Crime Data

Neighborhood Crime Data

 

total Crime Index

(100 is safest)


Safer than of U.S. neighborhoods.

Neighborhood Annual Crimes
  Violent Property Total
Number of Crimes
Crime Rate
(per 1,000 residents)

Neighborhood Violent Crime

violent Crime Index

(100 is safest)


Safer than of U.S. neighborhoods.

Violent Crime Index By Type

Murder
Index
Rape
Index
Robbery
Index
Assault
Index

100 is safest

100 is safest

100 is safest

100 is safest

Violent Crime Comparison (per 1,000 residents)

20 15 10 5 0
LOCKED
LOCKED
1.84
National Median: 4
    Bank St / Ocean Ave
    New London
    Connecticut

My Chances of Becoming a Victim of a Violent Crime

1 in

in Bank St / Ocean Ave

1 in

in New London

1 in 545

in Connecticut

New London VIOLENT CRIMES

Population:
Murder Rape Robbery Assault
Report Total
Rate per 1,000

United States VIOLENT CRIMES

Population:
Murder Rape Robbery Assault
Report Total
Rate per 1,000

Neighborhood Property Crime

property Crime Index

(100 is safest)


Safer than of U.S. neighborhoods.

Property Crime Index By Type
Burglary
Index
Theft
Index
Motor Vehicle
Theft

100 is safest

100 is safest

100 is safest

Property Crime Comparison (per 1,000 residents)

100 75 50 25 0
LOCKED
LOCKED
14.27
National Median: 21
    Bank St / Ocean Ave
    New London
    Connecticut

My Chances of Becoming a Victim of a Property Crime

1 in

in Bank St / Ocean Ave

1 in

in New London

1 in 70

in Connecticut

New London Property CRIMES

Population:
burglary theft motor vehicle theft
Report Total
Rate per 1,000

United States Property CRIMES

Population:
burglary theft motor vehicle theft
Report Total
Rate per 1,000

Crimes Per Square Mile

200 150 100 50 0
LOCKED
LOCKED
16
National Median: 28.3
    Bank St / Ocean Ave
    New London
    Connecticut

Neighborhood Public School Data

Source
School Data Tutorial

Analytics built by:   Location, Inc.

Raw data sources:
  • Test Scores: Edfacts (U.S. Department of Education), State departments of education.
  • Expenditures: National Center for Education Statistics.
  • Educational Environment: American Community Survey (U.S. Census Bureau).
Date(s) & Update Frequency:
  • Test data: Reflects 2018 – 2019 school year.
  • Expenditures: 2017
  • Educational Environment: 2018 (latest available). Updated annually.

Methodology:   Only NeighborhoodScout gives you nationally comparable school ranks based on test scores, so you can directly compare the quality of schools in any location. Read more about Scout's School Data

School Rating Information

 

School Quality

(100 is best)

Better than of U.S. schools.

Neighborhood School Quality Rating

Rates the quality of all K-12 public schools that your children would be exposed to if you lived in this neighborhood. Info

There are no schools physically located in this neighborhood.

Neighborhood Educational Environment

Adults In Neighborhood With College Degree Or Higher
Children In The Neighborhood Living In Poverty

This neighborhood is served by 1 district:

NEW LONDON SCHOOL DISTRICT


Students Enrolled in This District


Schools in District


Students Per Classroom

District Quality Compared to Connecticut

(10 is best)

Better than of CT school districts.

District Quality Compared to U.S. info

(10 is best)

Better than of US school districts.

Schools In This District

School District Enrollment By Group

Ethnic/racial Groups This District This State
White (non-hispanic)
Black
Hispanic
Asian Or Pacific Islander
American Indian Or Native Of Alaska
Economic Groups This District This State
ECONOMICALLY DISADVANTAGED
FREE LUNCH ELIGIBLE
REDUCED LUNCH ELIGIBLE

Educational Expenditures

For This District Per Student Total % Of Total
Instructional Expenditures
Support Expenditures
Student
Staff
General Administration
School Administration
Operation
Transportation
Other
Total Support
Non-instructional Expenditures
Total Expenditures

comparable neighborhoods nearby Icon info alt