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Real Estate Prices & Overview

Chelsea median real estate price is $129,998, which is less expensive than 97.7% of New Jersey neighborhoods and 86.7% of all U.S. neighborhoods.

The average rental price in Chelsea is currently $2,445, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 79.5% of New Jersey neighborhoods.

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).

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 small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the 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 Chelsea. The current real estate vacancy rate here is 34.9%. This is higher than the rate of vacancies in 96.1% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (25.7%). 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

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 Atlantic City, the Chelsea neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

Chelsea 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, 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, the real estate in the Chelsea neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 82.6% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 97.1% of American neighborhoods.

Furthermore, the Chelsea neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 86.4% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.

Also of note, despite all of the residential real estate here in the 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 34.9%, which is higher than 96.1% of all U.S. neighborhoods.

Occupations

There are more people living in the Chelsea neighborhood employed as sales and service workers (46.6%) than almost any neighborhood in the country. From fast-food service workers to major sales accounts, sales and service workers make up the largest proportion of our national employment picture. But despite that size and importance nationally, this neighborhood still stands out as unique due to the dominance of people living here who work in such occupations.

Modes of Transportation

More people ride the bus in this neighborhood each day to get to work than 99.6% of U.S. neighborhoods.

Also, in the Chelsea neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 32.3% of residents here. This is a higher proportion of walking commuters than we found in 99.2% of American neighborhoods. Get ready to put on your walking shoes if you move here!

Car Ownership

American households most often have a car, and regularly they have two or three. But households in the Chelsea neighborhood buck this trend. 67.6% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.5% of U.S. neighborhoods.

People

NeighborhoodScout's analysis shows that the Chelsea neighborhood has a greater concentration of residents currently enrolled in college than 96.6% of the neighborhoods in the U.S. With 13.8% of the population here attending college, this is very much a college-focused neighborhood.

Length of Commute

Whether walking, biking, riding, or driving, the length of one's commute is an important factor for one's quality of life. The Chelsea neighborhood stands out for its commute length, according to NeighborhoodScout's analysis. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the Chelsea neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 10.9% of commuters here travel more than one hour just one-way to work. That is more than two hours per day. This percentage with two-hour + round-trip commutes is higher than NeighborhoodScout found in 96.2% of all neighborhoods in America.

Diversity

Did you know that the Chelsea neighborhood has more Dominican and Puerto Rican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 13.6% of this neighborhood's residents have Dominican ancestry and 14.0% have Puerto Rican ancestry.

Chelsea is also pretty special linguistically. Significantly, 2.9% of its residents five years old and above primarily speak Urdu, which is the national language of Pakistan, at home. While this may seem like a small percentage, it is higher than 99.4% of the neighborhoods in America.

Migration / Stability

Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Chelsea neighborhood. What is interesting to note, is that the Chelsea neighborhood has a greater percentage of residents born in another country (50.2%) than are found in 97.7% of all U.S. neighborhoods.

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 Chelsea neighborhood in Atlantic City are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 93.6% of U.S. neighborhoods. With 46.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 92.1% 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 Chelsea neighborhood, 53.4% 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 22.7% of the residents employed. Other residents here are employed in executive, management, and professional occupations (13.0%), and 10.9% 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 Chelsea neighborhood is Spanish, spoken by 37.5% of households. Other important languages spoken here include English, Chinese, Arabic and Urdu (the national language of Pakistan).

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 Chelsea neighborhood in Atlantic City, NJ, residents most commonly identify their ethnicity or ancestry as Asian (25.8%). There are also a number of people of Puerto Rican ancestry (14.0%), and residents who report Dominican roots (13.6%), and some of the residents are also of Italian ancestry (9.9%), along with some Mexican ancestry residents (9.7%), among others. In addition, 50.2% 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 Chelsea neighborhood spend between 15 and 30 minutes commuting one-way to work (44.8% of working residents), which is shorter than the time spent commuting to work for most Americans. However, there is also a significant group of residents (10.9%) who commute over an hour in each direction.

Here most residents (32.3%) hop out the door and walk to work to get to work. In addition, quite a number also drive alone in a private automobile to get to work (30.8%) and 29.9% of residents also ride the bus for their daily commute. This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.


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