Salem Neck median real estate price is $662,224, which is more expensive than 50.1% of the neighborhoods in Massachusetts and 78.5% of the neighborhoods in the U.S.
The average rental price in Salem Neck is currently $2,700, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 64.0% of Massachusetts neighborhoods.
Salem Neck is a suburban neighborhood (based on population density) located in Salem, Massachusetts. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).
Salem Neck real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Salem Neck 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.
Home and apartment vacancy rates are 7.7% in Salem Neck. NeighborhoodScout analysis shows that this rate is lower than 50.0% of the neighborhoods in the nation, approximately near the middle range for vacancies.
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 Salem, the Salem Neck neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Real Estate
Do you like a coastal setting? If so, this neighborhood may be to your liking. The Salem Neck neighborhood is on the ocean, a bay, or inlet. Often such coastal places have amenities and recreational activities on the waterfront that are attractive to residents and visitors alike. In addition to being coastal, Salem Neck 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, 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 Salem Neck 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 47.9% of the real estate here is made up of such dwellings, which is higher than 98.1% of all U.S. neighborhoods.
Furthermore, 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 Salem Neck neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 83.9% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 99.8% of the neighborhoods in the United States.
People
For many reasons, Salem Neck is rated by NeighborhoodScout as one of the top 4.2% of ideal neighborhoods for first-time home buyers in the state of Massachusetts. Homes here are priced below median housing values in the state, yet the neighborhood has a track record according to NeighborhoodScout's exclusive neighborhood home appreciation rates of above average real estate appreciation over the last five years compared to other MA neighborhoods, protecting your investment in your first home, while simultaneously making it less risky for your lender. Not only does this neighborhood stand out for combining price and home value stability or increases, it also is a neighborhood with a high quality resident population according exclusive data, meaning this is likely a good place to buy, live, and enjoy. While many first time home buyers focus purely on low cost and convenient location, which can risk your investment in your first home and put you in a less than desirable neighborhood, this neighborhood is a true standout for a lot of reasons, and definitely worth a look if you are a first time home buyer. In addition to being an excellent choice for first-time home buyers, this neighborhood is also a very good choice for active retirees and urban sophisticates.
Modes of Transportation
In the Salem Neck neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 27.8% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 95.5% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.
Also, more people in Salem Neck choose to walk to work each day (11.1%) 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.
Finally, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 10.3% of the Salem Neck neighborhood's commuters ride the train to and from work each day, which is more than we found in 95.2% of America's neighborhoods.
Diversity
Did you know that the Salem Neck neighborhood has more Lithuanian and Scottish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.4% of this neighborhood's residents have Lithuanian ancestry and 9.0% have Scottish ancestry.
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 Salem Neck neighborhood in Salem are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 59.7% of the neighborhoods in America. With 11.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 51.8% 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 Salem Neck neighborhood, 55.9% 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 20.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (12.7%), and 10.4% in manufacturing and laborer occupations.
Languages
The most common language spoken in the Salem Neck neighborhood is English, spoken by 87.1% of households. Some people also speak Spanish (7.7%).
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 Salem Neck neighborhood in Salem, MA, residents most commonly identify their ethnicity or ancestry as Irish (27.3%). There are also a number of people of English ancestry (17.2%), and residents who report Italian roots (10.9%), and some of the residents are also of Scottish ancestry (9.0%), along with some Polish ancestry residents (8.1%), among others. In addition, 12.2% 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 Salem Neck neighborhood spend between 15 and 30 minutes commuting one-way to work (29.0% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (43.0%) 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 (11.1%) and 10.3% of residents also take the train 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.
