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Real Estate Prices & Overview

Central Square median real estate price is $992,735, which is more expensive than 82.1% of the neighborhoods in Massachusetts and 91.7% of the neighborhoods in the U.S.

The average rental price in Central Square is currently $3,528, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 64.6% of the neighborhoods in Massachusetts.

Central Square is a densely urban neighborhood (based on population density) located in Boston, Massachusetts. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).

Central Square 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 Central Square neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.

Central Square has a 13.9% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 75.3% 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.

Real Estate

If you like crowded places, then you will probably enjoy the the Central Square neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 95.8% of neighborhoods in the U.S., with 23,747 people per square mile living here. Central Square 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, Central Square 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.

In addition, the Central Square 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 89.9% 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 Central Square neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 88.7%, which is higher than 96.4% 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, one of the really unique and interesting things about the look and setting of the Central Square neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 74.9% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 95.9% of all neighborhoods in America.

Modes of Transportation

If you like to ride a ferry to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 2.3% of the Central Square neighborhood's commuters ride a ferry to and from work each day, which is more than we found in 99.5% of America's neighborhoods.

Also, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 27.4% of the Central Square neighborhood's commuters ride the train to and from work each day, which is more than we found in 97.9% of America's neighborhoods.

Car Ownership

American households most often have a car, and regularly they have two or three. But households in the Central Square neighborhood buck this trend. 31.8% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.4% of U.S. neighborhoods.

People

The types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 49.2%. This is a higher percent living alone than we found in 95.2% of all U.S. neighborhoods. Often residents who live alone are new arrivals to an area who are single, and often senior citizens who have lost a spouse.

Diversity

Did you know that the Central Square neighborhood has more Romanian and Arab ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.4% of this neighborhood's residents have Romanian ancestry and 5.2% have Arab ancestry.

Central Square is also pretty special linguistically. Significantly, 9.5% of its residents five years old and above primarily speak Chinese at home. While this may seem like a small percentage, it is higher than 97.7% of the neighborhoods in America.

Migration / Stability

Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. What is interesting to note, is that the Central Square neighborhood has a greater percentage of residents born in another country (43.8%) than are found in 95.6% of all U.S. neighborhoods.

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 Central Square neighborhood in Boston are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 47.8% of the neighborhoods in America. With 33.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 84.3% of U.S. neighborhoods.

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 Central Square neighborhood, 49.7% 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 32.4% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (12.2%), and 5.7% in clerical, assistant, and tech support 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 Central Square neighborhood is Spanish, spoken by 40.2% of households. Other important languages spoken here include English, Chinese, Arabic 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 Central Square neighborhood in Boston, MA, residents most commonly identify their ethnicity or ancestry as Asian (12.1%). There are also a number of people of South American ancestry (10.5%), and residents who report Irish roots (7.7%), and some of the residents are also of Italian ancestry (5.9%), along with some Dominican ancestry residents (5.6%), among others. In addition, 43.8% 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 Central Square neighborhood spend between 15 and 30 minutes commuting one-way to work (41.5% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (27.4%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (24.2%) and 11.3% of residents also carpool with coworkers, friends, or neighbors for their daily commute. This neighborhood is distinguished by the high number of residents who take the train to work each day, which can be a very good way to get to work at a lower cost and with less pollution.


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