Five Pound Island median real estate price is $658,719, which is more expensive than 43.8% of the neighborhoods in Massachusetts and 77.0% of the neighborhoods in the U.S.
The average rental price in Five Pound Island is currently $2,491, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 71.2% of Massachusetts neighborhoods.
Five Pound Island is an urban neighborhood (based on population density) located in Gloucester, Massachusetts. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).
Five Pound Island real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Five Pound Island 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 1970 and 1999.
In Five Pound Island, the current vacancy rate is 1.5%, which is a lower rate of vacancies than 88.6% of all neighborhoods in the U.S. This means that the housing supply in Five Pound Island is very tight compared to the demand for property here.
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.
Five Pound Island is a neighborhood that is on the ocean, a bay, or inlet. Many times, such places have amenities that bring locals and visitors to the waterfront for recreational activities or to check out the scenery. In some densely populated areas that are less financially well-off, the neighborhood waterfront can be relatively industrial and less open to recreation. In addition to being coastal, Five Pound Island 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, 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 Five Pound Island 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, 61.5% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 99.3% of America's neighborhoods.
Furthermore, 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 Five Pound Island neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 74.3% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 99.2% of the neighborhoods in the United States.
Whether walking, biking, riding, or driving, the length of one's commute is an important factor for one's quality of life. The Five Pound Island neighborhood stands out for its commute length, according to NeighborhoodScout's analysis. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the Five Pound Island neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 10.5% 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 96.1% of all neighborhoods in America.
Did you know that the Five Pound Island neighborhood has more Portuguese and Brazilian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 15.0% of this neighborhood's residents have Portuguese ancestry and 5.0% have Brazilian ancestry.
Five Pound Island is also pretty special linguistically. Significantly, 3.7% 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 98.9% of the neighborhoods in America.
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 Five Pound Island neighborhood in Gloucester are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 44.0% of the neighborhoods in America. With 36.8% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 87.4% 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 Five Pound Island neighborhood, 34.7% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 29.0% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (24.6%), and 11.6% 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 Five Pound Island neighborhood is English, spoken by 71.9% of households. Other important languages spoken here include Spanish, Portuguese and Italian.
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 Five Pound Island neighborhood in Gloucester, MA, residents most commonly identify their ethnicity or ancestry as Irish (23.0%). There are also a number of people of Portuguese ancestry (15.0%), and residents who report Italian roots (13.2%), and some of the residents are also of English ancestry (10.5%), along with some Polish ancestry residents (9.7%), among others. In addition, 19.2% 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 Five Pound Island neighborhood spend under 15 minutes commuting one-way to work (48.6% of working residents), one of the shortest commutes across America. However, there is also a significant group of residents (10.5%) who commute over an hour in each direction.
Here most residents (74.9%) 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 (8.6%) and 7.5% 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.