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Real Estate Prices & Overview

Cape Neddick median real estate price is $685,201, which is more expensive than 91.3% of the neighborhoods in Maine and 82.2% of the neighborhoods in the U.S.

The average rental price in Cape Neddick is currently $2,929, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 88.5% of the neighborhoods in Maine.

Cape Neddick is a suburban neighborhood (based on population density) located in York, Maine. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).

Cape Neddick real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and small apartment buildings. Most of the residential real estate is owner occupied. Many of the residences in the Cape Neddick neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Vacant apartments or homes are a major fact of life in Cape Neddick. The current real estate vacancy rate here is 52.8%. This is higher than the rate of vacancies in 98.8% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (52.1%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.

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 York, the Cape Neddick neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

Cape Neddick is a neighborhood that is on the ocean, a bay, or inlet. Many times, such places have amenities that bring locals and visitors to the waterfront for recreational activities or to check out the scenery. In some densely populated areas that are less financially well-off, the neighborhood waterfront can be relatively industrial and less open to recreation. In addition to being coastal, Cape Neddick 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, despite all of the residential real estate here in the Cape Neddick neighborhood, NeighborhoodScout has discovered that much of it is vacant. In resort or second-home vacation areas, this naturally occurs because homes and apartments are seasonally occupied, and empty for a portion of the year. In non-vacation or resort areas, however, this can be an indicator of property abandonment or a weak real estate market. The vacancy rate here is 52.8%, which is higher than 98.8% of all U.S. neighborhoods.

People

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

Diversity

Did you know that the Cape Neddick neighborhood has more English and Irish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 36.4% of this neighborhood's residents have English ancestry and 33.5% have Irish 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 Cape Neddick neighborhood in York are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 80.0% 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 Cape Neddick neighborhood, 52.5% 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 33.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (9.7%), and 4.1% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Cape Neddick neighborhood is English, spoken by 98.4% of households.

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 Cape Neddick neighborhood in York, ME, residents most commonly identify their ethnicity or ancestry as English (36.4%). There are also a number of people of Irish ancestry (33.5%), and residents who report Italian roots (12.7%), and some of the residents are also of French ancestry (9.5%), along with some German ancestry residents (7.1%), 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 Cape Neddick neighborhood spend under 15 minutes commuting one-way to work (47.6% of working residents), one of the shortest commutes across America.

Here most residents (79.5%) drive alone in a private automobile to get to work. 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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