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Real Estate Prices & Overview

South Lyme median real estate price is $611,260, which is more expensive than 83.6% of the neighborhoods in Connecticut and 80.2% of the neighborhoods in the U.S.

The average rental price in South Lyme is currently $2,330, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 61.0% of Connecticut neighborhoods.

South Lyme is a suburban neighborhood (based on population density) located in Old Lyme, Connecticut. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).

South Lyme real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and small apartment buildings. Most of the residential real estate is owner occupied. Many of the residences in the South Lyme neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Vacant apartments or homes are a major fact of life in South Lyme. The current real estate vacancy rate here is 27.3%. This is higher than the rate of vacancies in 92.9% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (23.3%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.

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 Old Lyme, the South Lyme neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

South Lyme is a neighborhood that is on the ocean, a bay, or inlet. Many times, such places have amenities that bring locals and visitors to the waterfront for recreational activities or to check out the scenery. In some densely populated areas that are less financially well-off, the neighborhood waterfront can be relatively industrial and less open to recreation. In addition to being coastal, South Lyme 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.

People

If you're looking for a great spot to raise a family, then look no further than the South Lyme neighborhood. NeighborhoodScout's analysis found that the combination of good quality public schools, above-average safety from crime, and a high rate of home ownership in predominantly single-family homes, help make this neighborhood among the top 11.0% of family-friendly neighborhoods across the state of Connecticut. In addition, there are a high proportion of other families with school-aged children living here, making it easy for parents and their children to socialize and develop a sense of community support. In addition, families here highly value education, as is reflected by the strength of the local schools, in part due to the educational attainment of the parents here, who vote in support of the public schools. In addition to being an excellent choice for families with school-aged children, this neighborhood is also a very good choice for active retirees and urban sophisticates.

Diversity

Did you know that the South Lyme neighborhood has more Brazilian and Lithuanian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.7% of this neighborhood's residents have Brazilian ancestry and 2.8% have Lithuanian ancestry.

South Lyme is also pretty special linguistically. Significantly, 8.5% 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 97.3% of the neighborhoods in America.

The Neighbors

There are two complementary 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 South Lyme neighborhood in Old Lyme 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 87.4% of the neighborhoods in America. In addition, 3.9% 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 68.8% of America'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 South Lyme neighborhood, 57.0% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 25.4% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (16.1%).

Languages

The most common language spoken in the South Lyme neighborhood is English, spoken by 91.3% of households. Some people also speak Polish (8.5%).

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 South Lyme neighborhood in Old Lyme, CT, residents most commonly identify their ethnicity or ancestry as English (20.2%). There are also a number of people of Italian ancestry (18.5%), and residents who report Irish roots (17.9%), and some of the residents are also of German ancestry (15.9%), along with some Polish ancestry residents (10.1%), among others.

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 South Lyme neighborhood spend between 15 and 30 minutes commuting one-way to work (32.3% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (74.7%) 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 (8.2%) . 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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Crime includes:
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Schools include:
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