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Real Estate Prices & Overview

Salem Neck median real estate price is $635,200, which is more expensive than 56.1% of the neighborhoods in Massachusetts and 81.3% of the neighborhoods in the U.S.

The average rental price in Salem Neck is currently $2,409, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 75.6% of Massachusetts neighborhoods.

Salem Neck is an urban 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 8.5% in Salem Neck. NeighborhoodScout analysis shows that this rate is lower than 47.1% of the neighborhoods in the nation, approximately near the middle range for vacancies.

Notable & Unique Neighborhood Characteristics

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.

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 47.6% of the real estate here is made up of such dwellings, which is higher than 98.1% of all U.S. neighborhoods.

Furthermore, 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 84.6% of the residential real estate in the Salem Neck neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 99.8% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

People

In a nation where 1 out of every 4 children lives in poverty, the Salem Neck neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

In addition, salem Neck is ranked among the top 5.2% of neighborhoods for first-time home buyers to consider in the state of Massachusetts according to NeighborhoodScout's exclusive analysis. Homes here are priced below median housing values in the state, yet maintain moderate appreciation rates compared to other communities. Buying into the Salem Neck neighborhood is not only an accessible option but an investment opportunity for many first-time home buyers. 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

More people in Salem Neck choose to walk to work each day (12.4%) 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.

Also, in the Salem Neck neighborhood, 12.3% of people ride the train to work each day. This is a very high percentage compared to most places. In fact, NeighborhoodScout's analysis reveals that this is a higher level of train ridership than in 95.5% of the neighborhoods in America.

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, 3.3% of this neighborhood's residents have Lithuanian ancestry and 7.8% have Scottish ancestry.

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 Salem Neck neighborhood in Salem are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 61.7% 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 Salem Neck neighborhood, 54.7% 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 22.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (14.4%), and 8.3% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Salem Neck neighborhood is English, spoken by 89.0% of households. Some people also speak Spanish (7.6%).

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 Salem Neck neighborhood in Salem, MA, residents most commonly identify their ethnicity or ancestry as Irish (28.2%). There are also a number of people of English ancestry (15.8%), and residents who report Polish roots (9.7%), and some of the residents are also of French ancestry (8.5%), along with some Italian ancestry residents (7.9%), among others. In addition, 11.1% of the residents of this neighborhood were born in another country.

Getting to Work

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 under 15 minutes commuting one-way to work (32.3% of working residents), one of the shortest commutes across America.

Here most residents (48.1%) 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 (12.4%) and 12.3% 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.


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