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Real Estate Prices & Overview

Fay's Estate / Victory Road median real estate price is $642,177, which is more expensive than 45.1% of the neighborhoods in Massachusetts and 76.6% of the neighborhoods in the U.S.

The average rental price in Fay's Estate / Victory Road is currently $3,657, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 62.9% of the neighborhoods in Massachusetts.

Fay's Estate / Victory Road is an urban neighborhood (based on population density) located in Lynn, Massachusetts.

Fay's Estate / Victory Road real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Fay's Estate / Victory Road 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.

In Fay's Estate / Victory Road, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Fay's Estate / Victory Road is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

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.

Real Estate

With a real estate vacancy rate of only 0.0%, the Fay's Estate / Victory Road neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.

Diversity

Did you know that the Fay's Estate / Victory Road neighborhood has more French Canadian and Armenian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 6.0% of this neighborhood's residents have French Canadian ancestry and 1.1% have Armenian ancestry.

Fay's Estate / Victory Road is also pretty special linguistically. Significantly, 5.1% 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 99.9% 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 Fay's Estate / Victory Road 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 65.8% of the neighborhoods in America. With 17.8% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 65.2% 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 Fay's Estate / Victory Road neighborhood, 33.1% 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 28.1% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (25.6%), and 13.1% 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 Fay's Estate / Victory Road neighborhood is English, spoken by 61.2% of households. Other important languages spoken here include Spanish, Mon-Khmer (the dominant language of Cambodia) and Portuguese.

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 Fay's Estate / Victory Road neighborhood in Lynn, MA, residents most commonly identify their ethnicity or ancestry as Irish (18.1%). There are also a number of people of Italian ancestry (9.7%), and residents who report French Canadian roots (6.0%), and some of the residents are also of Dominican ancestry (5.0%), along with some English ancestry residents (4.0%), among others. In addition, 19.2% 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 Fay's Estate / Victory Road neighborhood spend between 15 and 30 minutes commuting one-way to work (33.1% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (69.2%) 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 (16.1%) and 5.6% 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.


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