Broadway median real estate price is $664,029, which is more expensive than 48.7% of the neighborhoods in Massachusetts and 78.4% of the neighborhoods in the U.S.
The average rental price in Broadway is currently $3,576, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 40.3% of Massachusetts neighborhoods.
Broadway is a densely urban neighborhood (based on population density) located in Chelsea, Massachusetts.
Broadway 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 Broadway 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 2000 and the present.
Real estate vacancies in Broadway are 3.7%, which is lower than one will find in 75.4% of American neighborhoods. Demand for real estate in Broadway is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.
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.
Real Estate
The Broadway neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 43,936 persons per square mile in the neighborhood, it is more packed with people than 98.1% 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 Broadway neighborhood is among the top 5% of American neighborhoods in terms of walkability.
In addition, 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 Broadway 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 51.0% of the real estate here is made up of such dwellings, which is higher than 98.5% of all U.S. neighborhoods.
Furthermore, renter-occupied real estate is dominant in the Broadway neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 84.6%, which is higher than 95.2% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.
Also of note, do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The Broadway neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 57.7% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 95.9% of the neighborhoods in the United States.
Occupations
From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the Broadway neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 97.1% of all American neighborhoods.
Modes of Transportation
Our research revealed that more commuters here take the bus to work (13.6% ride the bus) than 96.8% of all American neighborhoods. If you like the idea of leaving your car and home and hopping the bus to work, this might be a good neighborhood for you to consider.
Also, more people in Broadway choose to walk to work each day (11.5%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.
Diversity
Did you know that the Broadway neighborhood has more Dominican and Puerto Rican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 11.8% of this neighborhood's residents have Dominican ancestry and 12.9% have Puerto Rican ancestry.
Broadway is also pretty special linguistically. Significantly, 1.3% 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 99.1% of the neighborhoods in America.
Migration / Stability
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 Broadway neighborhood has a greater percentage of residents born in another country (52.6%) than are found in 98.2% 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 Broadway neighborhood in Chelsea are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 40.1% of the neighborhoods in America. With 27.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 78.2% 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 Broadway neighborhood, 41.1% 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 28.2% of the residents employed. Other residents here are employed in executive, management, and professional occupations (21.2%), and 8.8% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the Broadway neighborhood is Spanish, spoken by 67.8% of households. Some people also speak English (25.4%).
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 Broadway neighborhood in Chelsea, MA, residents most commonly identify their ethnicity or ancestry as Puerto Rican (12.9%). There are also a number of people of Dominican ancestry (11.8%), and residents who report South American roots (3.2%), and some of the residents are also of Sub-Saharan African ancestry (2.4%), along with some Italian ancestry residents (2.3%), among others. In addition, 52.6% of the residents of this neighborhood were born in another country.
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 Broadway neighborhood spend between 45 minutes and one hour commuting one-way to work (32.5% of working residents), longer and tougher than most commutes in America.
Here most residents (48.0%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (13.6%) and 11.5% of residents also hop out the door and walk to work for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
