Reservoir median real estate price is $584,884, which is less expensive than 58.1% of Massachusetts neighborhoods and 25.5% of all U.S. neighborhoods.
The average rental price in Reservoir is currently $3,744, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 69.5% of the neighborhoods in Massachusetts.
Reservoir is a densely urban neighborhood (based on population density) located in Boston, Massachusetts.
Reservoir 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 Reservoir 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.
Reservoir has a 11.5% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 67.8% 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.
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
People
Of note is NeighborhoodScout's research finding that the Reservoir 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 Reservoir community truly stands out from the rest in this regard.
In addition, the rate of college educated adults in the Reservoir neighborhood is a unique characteristic of the neighborhood. 79.3% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 34.3% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 97.6% of all U.S. neighborhoods.
Also, the Reservoir neighborhood stands out within Massachusetts for its college student friendly environment. NeighborhoodScout's analysis reveals that this neighborhood is home to a number of college students, is relatively walkable, and above average in safety. In combination, this makes it stand out for a good place for college students to consider. Because a number of college students live here, this neighborhood may be close to a college campus and offer certain amenities nearby geared towards the student body. While it's not an environment for everyone, ambitious scholars can enjoy seasonal excitement between semesters and school breaks, and parents can rest easy knowing that the area has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 5.3% of college-friendly places to live in MA. In addition to being an excellent choice for college students, this neighborhood is also a very good choice for young, single professionals and urban sophisticates.
Modes of Transportation
If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 40.0% of the Reservoir neighborhood's commuters ride the train to and from work each day, which is more than we found in 98.8% of America's neighborhoods.
Real Estate
One of the really unique and interesting things about the look and setting of the Reservoir neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 93.3% 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 98.7% of all neighborhoods in America.
In addition, the Reservoir 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 92.9% 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, the Reservoir neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 44,750 persons per square mile in the neighborhood, it is more packed with people than 98.2% of the nation's neighborhoods. Even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The Reservoir neighborhood is among the top 5% of American neighborhoods in terms of walkability.
Also of note, renter-occupied real estate is dominant in the Reservoir neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 86.9%, which is higher than 95.9% 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.
Car Ownership
American households most often have a car, and regularly they have two or three. But households in the Reservoir neighborhood buck this trend. 41.4% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.2% of U.S. neighborhoods.
Occupations
The Reservoir neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 96.5% of the neighborhoods in America. In fact, 72.0% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
Diversity
Did you know that the Reservoir neighborhood has more Lebanese and Austrian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.8% of this neighborhood's residents have Lebanese ancestry and 1.6% have Austrian ancestry.
Reservoir is also pretty special linguistically. Significantly, 3.4% of its residents five years old and above primarily speak Russian at home. While this may seem like a small percentage, it is higher than 99.5% of the neighborhoods in America.
Migration / Stability
Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Reservoir neighborhood. In the Reservoir neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 97.9% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
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 Reservoir neighborhood in Boston are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 65.4% 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 100.0% of America'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 Reservoir neighborhood, 72.0% 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 14.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (10.0%), and 3.9% 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 Reservoir neighborhood is English, spoken by 72.5% of households. Other important languages spoken here include Spanish, Chinese, Arabic and Langs. of India.
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 Reservoir neighborhood in Boston, MA, residents most commonly identify their ethnicity or ancestry as Irish (20.2%). There are also a number of people of German ancestry (13.2%), and residents who report English roots (13.2%), and some of the residents are also of Asian ancestry (12.1%), along with some Italian ancestry residents (8.4%), among others. In addition, 15.2% of the residents of this neighborhood were born in another country.
How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Reservoir neighborhood spend between 45 minutes and one hour commuting one-way to work (39.7% of working residents), longer and tougher than most commutes in America.
Here most residents (40.0%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (23.8%) and 9.6% of residents also ride the bus 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.
