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Real Estate Prices & Overview

Downtown New London / Coit median real estate price is $414,233, which is more expensive than 56.6% of the neighborhoods in Connecticut and 62.4% of the neighborhoods in the U.S.

The average rental price in Downtown New London / Coit is currently $1,814, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 90.3% of Connecticut neighborhoods.

Downtown New London / Coit is an urban neighborhood (based on population density) located in New London, Connecticut.

Downtown New London / Coit 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 Downtown New London / Coit 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.

Downtown New London / Coit has a 12.5% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 69.7% 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.

People

Divorcees may find friendship and understanding in this neighborhood, as 26.0% of its residents are divorced. NeighborhoodScout's exclusive analysis found that this divorce rate is higher than in 99.2% of the neighborhoods in America.

In addition, the Downtown New London / Coit neighborhood has a greater percentage of children living in poverty (59.9%) than found in 96.8% of all U.S. neighborhoods. Children living in poverty is one of the challenges facing America, and the world, and in this neighborhood in particular, the problem can be considered acute.

Occupations

With 3.7% of employed workers living in the Downtown New London / Coit neighborhood active in the military, this neighborhood has the distinction of having a higher proportion of people in the military than 98.3% of American neighborhoods. This is a major shaper of the neighborhood's culture and character.

Real Estate

Three-deckers, duplexes, old Victorian homes cut up into apartments. Independent stores on the corner selling pizza. These are some of the hallmarks of neighborhoods with lots of small 2, 3, and 4 unit apartment buildings. The Downtown New London / Coit neighborhood really stands out in this regard, however, as it is dominated by such small apartment buildings more than nearly any other neighborhood in America. This is a stunning visual and lifestyle example of this type of neighborhood. In fact, 44.4% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 97.7% of America's neighborhoods.

In addition, the Downtown New London / Coit neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 89.0% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.

Furthermore, renter-occupied real estate is dominant in the Downtown New London / Coit neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 87.4%, which is higher than 96.1% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.

Also of note, if you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 63.2% of the residential real estate in the Downtown New London / Coit neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 97.1% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

Diversity

Did you know that the Downtown New London / Coit neighborhood has more Puerto Rican and Dominican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 21.3% of this neighborhood's residents have Puerto Rican ancestry and 8.8% have Dominican ancestry.

Downtown New London / Coit is also pretty special linguistically. Significantly, 1.2% of its residents five years old and above primarily speak Urdu, which is the national language of Pakistan, at home. While this may seem like a small percentage, it is higher than 97.8% of the neighborhoods in America.

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 Downtown New London / Coit neighborhood in New London are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 94.8% of U.S. neighborhoods. With 59.9% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 96.8% of U.S. neighborhoods.

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 Downtown New London / Coit 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 executive, management, and professional occupations, with 28.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (20.8%), and 12.0% in manufacturing and laborer 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 Downtown New London / Coit neighborhood is English, spoken by 74.9% of households. Other important languages spoken here include Spanish, Italian and French.

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Downtown New London / Coit neighborhood in New London, CT, residents most commonly identify their ethnicity or ancestry as Puerto Rican (21.3%). There are also a number of people of Irish ancestry (12.9%), and residents who report Dominican roots (8.8%), and some of the residents are also of Italian ancestry (8.0%), along with some English ancestry residents (7.6%), among others. In addition, 11.8% 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 Downtown New London / Coit neighborhood spend under 15 minutes commuting one-way to work (42.0% of working residents), one of the shortest commutes across America.

Here most residents (68.4%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (8.9%) and 7.0% of residents also ride the bus 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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