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Real Estate Prices & Overview

Lynnway median real estate price is $769,036, which is more expensive than 58.9% of the neighborhoods in Massachusetts and 82.2% of the neighborhoods in the U.S.

The average rental price in Lynnway is currently $1,104, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 99.6% of Massachusetts neighborhoods.

Lynnway is a suburban neighborhood (based on population density) located in Lynn, Massachusetts. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).

Lynnway 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 Lynnway neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built before 1940.

In Lynnway, 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 Lynnway is very tight compared to the demand for property here.

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 Lynnway neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

Do you like a coastal setting? If so, this neighborhood may be to your liking. The Lynnway neighborhood is on the ocean, a bay, or inlet. Often such coastal places have amenities and recreational activities on the waterfront that are attractive to residents and visitors alike. In addition to being coastal, Lynnway 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, with a real estate vacancy rate of only 0.0%, the Lynnway 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.

Modes of Transportation

Our research revealed that more commuters here take the bus to work (22.8% ride the bus) than 99.1% 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.

Diversity

Did you know that the Lynnway neighborhood has more Dominican and Yugoslav ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 12.0% of this neighborhood's residents have Dominican ancestry and 1.2% have Yugoslav ancestry.

Lynnway is also pretty special linguistically. Significantly, 1.9% 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 99.5% 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 Lynnway neighborhood has a greater percentage of residents born in another country (54.9%) than are found in 98.6% of all U.S. neighborhoods.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Lynnway neighborhood in Lynn are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 93.2% of U.S. neighborhoods. With 24.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 75.0% 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 Lynnway neighborhood, 37.1% 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 26.0% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (21.2%), and 15.7% in executive, management, and professional 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 Lynnway neighborhood is Spanish, spoken by 42.6% of households. Other important languages spoken here include English, Portuguese, Urdu (the national language of Pakistan) and French.

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 Lynnway neighborhood in Lynn, MA, residents most commonly identify their ethnicity or ancestry as Asian (14.4%). There are also a number of people of Dominican ancestry (12.0%), and residents who report Puerto Rican roots (6.3%), and some of the residents are also of Sub-Saharan African ancestry (5.6%), along with some Portuguese ancestry residents (2.3%), among others. In addition, 54.9% of the residents of this neighborhood were born in another country.

Getting to Work

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 Lynnway neighborhood spend between 30 and 45 minutes commuting one-way to work (27.2% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (53.2%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (22.8%) and 17.7% of residents also carpool with coworkers, friends, or neighbors 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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