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Real Estate Prices & Overview

Eastern Avenue / Chatham Street median real estate price is $655,688, which is more expensive than 45.7% of the neighborhoods in Massachusetts and 76.6% of the neighborhoods in the U.S.

The average rental price in Eastern Avenue / Chatham Street is currently $3,672, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 63.5% of the neighborhoods in Massachusetts.

Eastern Avenue / Chatham Street is a densely urban neighborhood (based on population density) located in Lynn, Massachusetts.

Eastern Avenue / Chatham Street real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and small apartment buildings. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Eastern Avenue / Chatham Street 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.

Real estate vacancies in Eastern Avenue / Chatham Street are 4.2%, which is lower than one will find in 72.1% of American neighborhoods. Demand for real estate in Eastern Avenue / Chatham Street 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.

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 Lynn, the Eastern Avenue / Chatham Street neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

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 Eastern Avenue / Chatham Street neighborhood is among the top 5% of American neighborhoods in terms of walkability.

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 Eastern Avenue / Chatham Street 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, 40.5% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 97.2% of America's neighborhoods.

Furthermore, if you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 72.6% of the residential real estate in the Eastern Avenue / Chatham Street neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 99.0% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

Modes of Transportation

In the Eastern Avenue / Chatham Street neighborhood, carpooling is still a popular way to get to and from work. NeighborhoodScout's analysis reveals that 25.4% of commuters carpool here, which is more than in 97.3% of all U.S. neighborhoods.

Diversity

Did you know that the Eastern Avenue / Chatham Street neighborhood has more Dominican and Portuguese ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 14.9% of this neighborhood's residents have Dominican ancestry and 2.5% have Portuguese ancestry.

Eastern Avenue / Chatham Street is also pretty special linguistically. Significantly, 2.7% 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 99.7% of the neighborhoods in America.

The Neighbors

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 Eastern Avenue / Chatham Street neighborhood in Lynn are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 69.3% of the neighborhoods in America. With 13.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 57.2% 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 Eastern Avenue / Chatham Street neighborhood, 34.9% 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 executive, management, and professional occupations, with 31.3% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (17.9%), and 15.8% 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 Eastern Avenue / Chatham Street neighborhood is English, spoken by 44.9% of households. Other important languages spoken here include Spanish, French, Mon-Khmer (the dominant language of Cambodia) and African languages.

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 Eastern Avenue / Chatham Street neighborhood in Lynn, MA, residents most commonly identify their ethnicity or ancestry as Dominican (14.9%). There are also a number of people of Irish ancestry (9.6%), and residents who report Asian roots (9.5%), and some of the residents are also of Italian ancestry (5.1%), along with some English ancestry residents (3.2%), among others. In addition, 38.0% 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 Eastern Avenue / Chatham Street neighborhood spend between 15 and 30 minutes commuting one-way to work (32.1% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (57.2%) 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 (25.4%) and 9.3% of residents also ride the bus 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.


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