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Real Estate Prices & Overview

Salem State University median real estate price is $605,432, which is more expensive than 42.4% of the neighborhoods in Massachusetts and 74.4% of the neighborhoods in the U.S.

The average rental price in Salem State University is currently $3,430, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 41.5% of Massachusetts neighborhoods.

Salem State University 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 State University real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Salem State University 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.

In Salem State University, the current vacancy rate is 2.6%, which is a lower rate of vacancies than 82.5% of all neighborhoods in the U.S. This means that the housing supply in Salem State University is very tight compared to the demand for property here.

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 Salem, the Salem State University 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 State University 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 State University 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, three-deckers, duplexes, old Victorian homes cut up into apartments. Independent stores on the corner selling pizza. These are some of the hallmarks of neighborhoods with lots of small 2, 3, and 4 unit apartment buildings. The Salem State University neighborhood really stands out in this regard, however, as it is dominated by such small apartment buildings more than nearly any other neighborhood in America. This is a stunning visual and lifestyle example of this type of neighborhood. In fact, 61.4% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 99.3% of America'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 65.9% of the residential real estate in the Salem State University neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 97.8% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

People

One of the really interesting characteristics about the Salem State University neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 1.6% of college-friendly places to live in the state of Massachusetts. In addition to being an excellent choice for college students, this neighborhood is also a very good choice for first-time home buyers and urban sophisticates.

In addition, neighborhoodScout's analysis shows that the Salem State University neighborhood has a greater concentration of residents currently enrolled in college than 97.2% of the neighborhoods in the U.S. With 16.6% of the population here attending college, this is very much a college-focused neighborhood.

Diversity

Did you know that the Salem State University neighborhood has more French Canadian and Dominican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 8.3% of this neighborhood's residents have French Canadian ancestry and 4.1% have Dominican ancestry.

Salem State University is also pretty special linguistically. Significantly, 0.4% of its residents five years old and above primarily speak Mon-Khmer, which is the dominant language of Cambodia, at home. While this may seem like a small percentage, it is higher than 97.7% 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 Salem State University 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 67.0% of the neighborhoods in America. With 14.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 59.3% of U.S. neighborhoods.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the Salem State University neighborhood, 52.4% 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 26.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (10.6%), and 10.4% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Salem State University neighborhood is English, spoken by 87.2% of households. Some people also speak Spanish (7.3%).

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 State University neighborhood in Salem, MA, residents most commonly identify their ethnicity or ancestry as Irish (19.8%). There are also a number of people of Italian ancestry (16.0%), and residents who report English roots (11.6%), and some of the residents are also of Polish ancestry (9.6%), along with some German ancestry residents (8.5%), among others.

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 State University neighborhood spend between 15 and 30 minutes commuting one-way to work (29.4% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (68.6%) 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 (8.6%) . 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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