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Real Estate Prices & Overview

Fairmount median real estate price is $390,590, which is more expensive than 31.9% of the neighborhoods in Rhode Island and 52.8% of the neighborhoods in the U.S.

The average rental price in Fairmount is currently $2,041, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 85.5% of Rhode Island neighborhoods.

Fairmount is an urban neighborhood (based on population density) located in Woonsocket, Rhode Island.

Fairmount real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four 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 Fairmount 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 9.0% in Fairmount. NeighborhoodScout analysis shows that this rate is lower than 42.8% of the neighborhoods in the nation, approximately near the middle range for vacancies.

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

People

Whether by choice, divorce, or unplanned pregnancy, single moms may have the toughest job in the book. NeighborhoodScout's exclusive analysis reveals that the Fairmount neighborhood has more single mother households than 98.7% of the neighborhoods in the U.S. Often high concentrations of single mother homes can be a strong indicator of family and social issues such as poverty, high rates of school dropouts, crime, and other societal problems.

Real Estate

Three-deckers, duplexes, old Victorian homes cut up into apartments. Independent stores on the corner selling pizza. These are some of the hallmarks of neighborhoods with lots of small 2, 3, and 4 unit apartment buildings. The Fairmount neighborhood really stands out in this regard, however, as it is dominated by such small apartment buildings more than nearly any other neighborhood in America. This is a stunning visual and lifestyle example of this type of neighborhood. In fact, 47.2% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 98.1% of America's neighborhoods.

Modes of Transportation

If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 3.2% of residents in the Fairmount neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 96.2% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.

Diversity

Did you know that the Fairmount neighborhood has more Lebanese and French ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.8% of this neighborhood's residents have Lebanese ancestry and 14.8% have French ancestry.

Fairmount is also pretty special linguistically. Significantly, 0.5% of its residents five years old and above primarily speak Mon-Khmer, which is the dominant language of Cambodia, at home. While this may seem like a small percentage, it is higher than 98.0% 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 Fairmount neighborhood in Woonsocket are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 83.0% of U.S. neighborhoods. With 34.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 84.9% of U.S. neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Fairmount neighborhood, 29.6% 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 27.5% of the residents employed. Other residents here are employed in executive, management, and professional occupations (23.2%), and 19.8% 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 Fairmount neighborhood is English, spoken by 62.7% of households. Other important languages spoken here include Spanish and French.

Ethnicity / Ancestry

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 Fairmount neighborhood in Woonsocket, RI, residents most commonly identify their ethnicity or ancestry as Puerto Rican (16.0%). There are also a number of people of French ancestry (14.8%), and residents who report Irish roots (10.2%), and some of the residents are also of Asian ancestry (7.4%), along with some Sub-Saharan African ancestry residents (7.4%), among others. In addition, 21.4% 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 Fairmount neighborhood spend between 15 and 30 minutes commuting one-way to work (37.3% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (73.5%) 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 (18.6%) . 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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