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Real Estate Prices & Overview

Lower Chelsea median real estate price is $341,429, which is less expensive than 80.3% of New Jersey neighborhoods and 51.3% of all U.S. neighborhoods.

The average rental price in Lower Chelsea is currently $2,439, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 80.2% of New Jersey neighborhoods.

Lower Chelsea is a densely urban neighborhood (based on population density) located in Atlantic City, New Jersey. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).

Lower Chelsea real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments 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 Lower Chelsea 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 1970 and 1999.

Vacant apartments or homes are a major fact of life in Lower Chelsea. The current real estate vacancy rate here is 32.5%. This is higher than the rate of vacancies in 95.7% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (19.7%). 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

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

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 Lower Chelsea neighborhood is among the top 5% of American neighborhoods in terms of walkability. Do you like a coastal setting? If so, this neighborhood may be to your liking. The Lower Chelsea 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, Lower Chelsea 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 Lower Chelsea 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 32.5%, which is higher than 95.7% of all U.S. neighborhoods.

Modes of Transportation

Our research revealed that more commuters here take the bus to work (26.5% ride the bus) than 99.4% of all American neighborhoods. If you like the idea of leaving your car and home and hopping the bus to work, this might be a good neighborhood for you to consider.

People

For many reasons, Lower Chelsea is rated by NeighborhoodScout as one of the top 1.8% of ideal neighborhoods for first-time home buyers in the state of New Jersey. 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 NJ 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.

Diversity

Did you know that the Lower Chelsea neighborhood has more Asian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 24.7% of this neighborhood's residents have Asian ancestry.

Lower Chelsea is also pretty special linguistically. Significantly, 7.2% of its residents five years old and above primarily speak Vietnamese at home. While this may seem like a small percentage, it is higher than 99.0% 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 Lower Chelsea neighborhood in Atlantic City are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 79.8% of U.S. neighborhoods. With 21.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 71.1% 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 Lower Chelsea neighborhood, 35.5% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 33.8% of the residents employed. Other residents here are employed in executive, management, and professional occupations (22.4%), and 8.3% 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 Lower Chelsea neighborhood is Spanish, spoken by 41.4% of households. Other important languages spoken here include English, Chinese and Vietnamese.

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 Lower Chelsea neighborhood in Atlantic City, NJ, residents most commonly identify their ethnicity or ancestry as Mexican (30.4%). There are also a number of people of Asian ancestry (24.7%), and residents who report Irish roots (6.2%), and some of the residents are also of Polish ancestry (4.9%), along with some Puerto Rican ancestry residents (4.2%), among others. In addition, 37.8% 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 Lower Chelsea neighborhood spend between 15 and 30 minutes commuting one-way to work (50.2% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (48.4%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (26.5%) and 14.3% of residents also carpool with coworkers, friends, or neighbors 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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