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Real Estate Prices & Overview

Misquamicut / Weekapaug median real estate price is $1,188,898, which is more expensive than 98.0% of the neighborhoods in Rhode Island and 94.9% of the neighborhoods in the U.S.

The average rental price in Misquamicut / Weekapaug is currently $2,282, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 61.7% of Rhode Island neighborhoods.

Misquamicut / Weekapaug is a rural neighborhood (based on population density) located in Westerly, Rhode Island. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).

Misquamicut / Weekapaug real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Misquamicut / Weekapaug 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 Misquamicut / Weekapaug. The current real estate vacancy rate here is 63.9%. This is higher than the rate of vacancies in 99.5% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (59.9%). 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

Do you like a coastal setting? If so, this neighborhood may be to your liking. The Misquamicut / Weekapaug 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, Misquamicut / Weekapaug 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, vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 63.9% of the residential real estate vacant, the Misquamicut / Weekapaug neighborhood claims the distinction of having a higher vacancy rate than 99.5% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.

Length of Commute

Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the Misquamicut / Weekapaug neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 13.7% 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 98.1% of all neighborhoods in America.

People

The Misquamicut / Weekapaug neighborhood is considered a solid choice for executive lifestyles. NeighborhoodScout's analysis ranks it as better than 94.3% of Rhode Island neighborhoods for executive living, based on the wealthy, educated professionals, executives, and managers who choose to reside here, the spacious homes that are prominent features of the real estate in the neighborhood, and the high real estate appreciation rates found here relative to other neighborhoods in the state. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for urban sophisticates and active retirees.

Diversity

Did you know that the Misquamicut / Weekapaug neighborhood has more Welsh and Greek ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.4% of this neighborhood's residents have Welsh ancestry and 3.9% have Greek ancestry.

Misquamicut / Weekapaug is also pretty special linguistically. Significantly, 2.7% of its residents five years old and above primarily speak Portuguese at home. While this may seem like a small percentage, it is higher than 98.4% 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 Misquamicut / Weekapaug neighborhood in Westerly are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 84.3% of the neighborhoods in America. In addition, 6.2% 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 61.0% of America'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 Misquamicut / Weekapaug neighborhood, 59.4% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 16.7% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (13.3%), and 10.6% in manufacturing and laborer 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 Misquamicut / Weekapaug neighborhood is English, spoken by 91.7% of households. Other important languages spoken here include Polish and Portuguese.

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 Misquamicut / Weekapaug neighborhood in Westerly, RI, residents most commonly identify their ethnicity or ancestry as Irish (24.8%). There are also a number of people of Italian ancestry (20.1%), and residents who report English roots (18.2%), and some of the residents are also of German ancestry (8.3%), along with some Welsh ancestry residents (4.4%), 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 Misquamicut / Weekapaug neighborhood spend between 15 and 30 minutes commuting one-way to work (31.3% 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 (13.7%) who commute over an hour in each direction.

Here most residents (61.5%) 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 (13.8%) . 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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