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Real Estate Prices & Overview

University Park median real estate price is $430,888, which is less expensive than 74.6% of Massachusetts neighborhoods and 35.8% of all U.S. neighborhoods.

The average rental price in University Park is currently $2,352, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 76.7% of Massachusetts neighborhoods.

University Park is a densely urban neighborhood (based on population density) located in Worcester, Massachusetts.

University Park 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 renter occupied. Many of the residences in the University Park 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.

Real estate vacancies in University Park are 3.3%, which is lower than one will find in 79.4% of American neighborhoods. Demand for real estate in University Park is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

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

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 University Park 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 64.3% of the real estate here is made up of such dwellings, which is higher than 99.4% of all U.S. neighborhoods.

In addition, if you like crowded places, then you will probably enjoy the the University Park neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 95.1% of neighborhoods in the U.S., with 20,987 people per square mile living here. 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 University Park neighborhood is among the top 5% of American neighborhoods in terms of walkability.

Furthermore, renter-occupied real estate is dominant in the University Park neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 89.5%, which is higher than 96.7% 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, 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 University Park neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 62.1% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 96.8% of the neighborhoods in the United States.

People

An extraordinary 29.5% of the residents of the University Park neighborhood are currently enrolled in college. This is such a large part of life in this neighborhood that the neighborhood changes a great deal with the change of semesters and is far quieter during the summer when many students are away.

In addition, one of the unique characteristics of the University Park neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 95.1% of the neighborhoods in America.

Also, the University Park 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 8.4% of college-friendly places to live in MA.

Modes of Transportation

If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 3.7% of residents in the University Park neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 96.8% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.

Also, more people in University Park choose to walk to work each day (13.3%) 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.

Diversity

Did you know that the University Park neighborhood has more Puerto Rican and French Canadian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 22.2% of this neighborhood's residents have Puerto Rican ancestry and 6.4% have French Canadian ancestry.

University Park is also pretty special linguistically. Significantly, 1.8% of its residents five years old and above primarily speak Japanese at home. While this may seem like a small percentage, it is higher than 98.8% 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 University Park neighborhood in Worcester are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 95.1% of U.S. neighborhoods. With 26.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 76.4% 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 University Park neighborhood, 36.9% of the working population is employed in manufacturing and laborer occupations. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 30.4% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (15.7%), and 15.5% 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 University Park neighborhood is English, spoken by 51.6% of households. Other important languages spoken here include Spanish, Vietnamese and Chinese.

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 University Park neighborhood in Worcester, MA, residents most commonly identify their ethnicity or ancestry as Puerto Rican (22.2%). There are also a number of people of Irish ancestry (19.0%), and residents who report Asian roots (13.7%), and some of the residents are also of Italian ancestry (7.3%), along with some French Canadian ancestry residents (6.4%), among others. In addition, 25.4% 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 University Park neighborhood spend under 15 minutes commuting one-way to work (47.3% of working residents), one of the shortest commutes across America.

Here most residents (53.1%) 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 (19.4%) and 13.3% of residents also hop out the door and walk to work 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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