Elmwood median real estate price is $471,202, which is more expensive than 40.4% of the neighborhoods in Rhode Island and 60.5% of the neighborhoods in the U.S.
The average rental price in Elmwood is currently $1,940, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 86.9% of Rhode Island neighborhoods.
Elmwood is a densely urban neighborhood (based on population density) located in Providence, Rhode Island.
Elmwood real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two 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 Elmwood 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.
Home and apartment vacancy rates are 6.1% in Elmwood. NeighborhoodScout analysis shows that this rate is lower than 58.1% of the neighborhoods in the nation, approximately near the middle range for vacancies.
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
More people work in manufacturing and as laborers here in the Elmwood neighborhood than in 99.3% of the neighborhoods in America. Despite the loss of manufacturing jobs across the nation, this neighborhood remains a place where, compared to other parts of the country, you will find many laborers and manufacturers.
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 Elmwood 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 46.2% of the real estate here is made up of such dwellings, which is higher than 98.0% of all U.S. neighborhoods.
In addition, being a walkable neighborhood can help increase property values for the simple reason that people enjoy it and value it. To put it plainly, despite our love affair with the automobile, American's enjoy taking to the streets, sidewalks, paths, and courtyards of a place to get a coffee, relax, and take in the sights and sounds. And, according to NeighborhoodScout's exclusive and first quantitative walkable score index, the Elmwood neighborhood is one of the most walkable neighborhoods in America.
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 58.2% of the residential real estate in the Elmwood neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 96.2% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
Did you know that the Elmwood neighborhood has more Dominican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 68.5% of this neighborhood's residents have Dominican ancestry.
Elmwood is also pretty special linguistically. Significantly, 78.5% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 98.5% of all U.S. neighborhoods.
The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. What is interesting to note, is that the Elmwood neighborhood has a greater percentage of residents born in another country (62.8%) than are found in 99.4% of all U.S. neighborhoods.
How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.
The neighbors in the Elmwood neighborhood in Providence are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 83.7% of U.S. neighborhoods. With 19.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 68.8% 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 Elmwood neighborhood, 52.4% of the working population is employed in manufacturing and laborer 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 16.6% of the residents employed. Other residents here are employed in executive, management, and professional occupations (16.1%), and 15.0% in clerical, assistant, and tech support occupations.
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 Elmwood neighborhood is Spanish, spoken by 78.5% of households. Other important languages spoken here include English and Portuguese.
Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.
In the Elmwood neighborhood in Providence, RI, residents most commonly identify their ethnicity or ancestry as Dominican (68.5%). There are also a number of people of Puerto Rican ancestry (4.6%), and residents who report Sub-Saharan African roots (3.1%), and some of the residents are also of Asian ancestry (2.9%), along with some South American ancestry residents (2.5%), among others. In addition, 62.8% of the residents of this neighborhood were born in another country.
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 Elmwood neighborhood spend between 15 and 30 minutes commuting one-way to work (60.4% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (86.4%) 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 (9.8%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.