Reservoir median real estate price is $645,012, which is more expensive than 46.6% of the neighborhoods in Massachusetts and 76.4% of the neighborhoods in the U.S.
The average rental price in Reservoir is currently $3,789, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 69.5% of the neighborhoods in Massachusetts.
Reservoir is a densely urban neighborhood (based on population density) located in Boston, Massachusetts.
Reservoir 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 Reservoir 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.
Reservoir has a 11.5% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 67.8% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.
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.
People
Of note is NeighborhoodScout's research finding that the Reservoir neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Reservoir community truly stands out from the rest in this regard.
In addition, the rate of college educated adults in the Reservoir neighborhood is a unique characteristic of the neighborhood. 79.3% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 34.3% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 97.6% of all U.S. neighborhoods.
Also, the Reservoir neighborhood stands out within Massachusetts for its college student friendly environment. NeighborhoodScout's analysis reveals that this neighborhood is home to a number of college students, is relatively walkable, and above average in safety. In combination, this makes it stand out for a good place for college students to consider. Because a number of college students live here, this neighborhood may be close to a college campus and offer certain amenities nearby geared towards the student body. While it's not an environment for everyone, ambitious scholars can enjoy seasonal excitement between semesters and school breaks, and parents can rest easy knowing that the area has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 5.3% of college-friendly places to live in MA. In addition to being an excellent choice for college students, this neighborhood is also a very good choice for young, single professionals and urban sophisticates.
Modes of Transportation
In the Reservoir neighborhood, 40.0% of people ride the train to work each day. This is a very high percentage compared to most places. In fact, NeighborhoodScout's analysis reveals that this is a higher level of train ridership than in 98.8% of the neighborhoods in America.
Real Estate
The real estate in the Reservoir 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, 93.3% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 98.7% of American neighborhoods.
In addition, the Reservoir 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 92.9% 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.
Furthermore, the Reservoir neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 44,750 persons per square mile in the neighborhood, it is more packed with people than 98.2% of the nation's neighborhoods. 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 Reservoir neighborhood is among the top 5% of American neighborhoods in terms of walkability.
Also of note, 86.9% of the real estate in the Reservoir neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
Car Ownership
Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the Reservoir neighborhood have a highly unusual car ownership. 41.4% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.2% of U.S. neighborhoods.
Occupations
The Reservoir neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 96.5% of the neighborhoods in America. In fact, 72.0% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
Diversity
Did you know that the Reservoir neighborhood has more Lebanese and Austrian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.8% of this neighborhood's residents have Lebanese ancestry and 1.6% have Austrian ancestry.
Reservoir is also pretty special linguistically. Significantly, 3.4% of its residents five years old and above primarily speak Russian at home. While this may seem like a small percentage, it is higher than 99.5% of the neighborhoods in America.
Migration / Stability
Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. In the Reservoir neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 97.9% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
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 Reservoir neighborhood in Boston are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 65.4% of the neighborhoods in America. In addition, 0.0% 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 100.0% of America'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 Reservoir neighborhood, 72.0% of the working population is employed in executive, management, and professional 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 14.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (10.0%), and 3.9% 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 Reservoir neighborhood is English, spoken by 72.5% of households. Other important languages spoken here include Spanish, Chinese, Arabic and Langs. of India.
Ethnicity / Ancestry
Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.
In the Reservoir neighborhood in Boston, MA, residents most commonly identify their ethnicity or ancestry as Irish (20.2%). There are also a number of people of German ancestry (13.2%), and residents who report English roots (13.2%), and some of the residents are also of Asian ancestry (12.1%), along with some Italian ancestry residents (8.4%), among others. In addition, 15.2% 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 Reservoir neighborhood spend between 45 minutes and one hour commuting one-way to work (39.7% of working residents), longer and tougher than most commutes in America.
Here most residents (40.0%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (23.8%) and 9.6% of residents also ride the bus for their daily commute. This neighborhood is distinguished by the high number of residents who take the train to work each day, which can be a very good way to get to work at a lower cost and with less pollution.
