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Real Estate Prices & Overview

Island Hill median real estate price is $1,002,917, which is more expensive than 78.7% of the neighborhoods in Massachusetts and 90.1% of the neighborhoods in the U.S.

The average rental price in Island Hill is currently $4,059, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 75.4% of the neighborhoods in Massachusetts.

Island Hill is a densely urban neighborhood (based on population density) located in Malden, Massachusetts.

Island Hill real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four 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 Island Hill 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 Island Hill are 4.7%, which is lower than one will find in 68.8% of American neighborhoods. Demand for real estate in Island Hill 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

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.

People

Of note is NeighborhoodScout's research finding that the Island Hill neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Island Hill community truly stands out from the rest in this regard.

Real Estate

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 Island Hill 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 51.9% of the real estate here is made up of such dwellings, which is higher than 98.6% of all U.S. neighborhoods.

In addition, being a walkable neighborhood can help increase property values for the simple reason that people enjoy it and value it. To put it plainly, despite our love affair with the automobile, American's enjoy taking to the streets, sidewalks, paths, and courtyards of a place to get a coffee, relax, and take in the sights and sounds. And, according to NeighborhoodScout's exclusive and first quantitative walkable score index, the Island Hill neighborhood is one of the most walkable neighborhoods in America.

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 59.1% of the residential real estate in the Island Hill neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 96.3% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

Occupations

The government often provides some of the more stable jobs in the economy. From local, to state, to federal government workers, the government can also be a major employer. What NeighborhoodScout's analysis revealed, is that the Island Hill neighborhood in particular stands out when compared nationally for the proportion of its working residents who are employed by the government. At 15.2% of its workforce, this neighborhood has a greater concentration of government workers than 97.2% of U.S. neighborhoods.

Modes of Transportation

In the Island Hill neighborhood, 18.8% of people ride the train to work each day. This is a very high percentage compared to most places. In fact, NeighborhoodScout's analysis reveals that this is a higher level of train ridership than in 97.1% of the neighborhoods in America.

Diversity

Did you know that the Island Hill neighborhood has more French Canadian and Puerto Rican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 9.3% of this neighborhood's residents have French Canadian ancestry and 9.1% have Puerto Rican ancestry.

Island Hill is also pretty special linguistically. Significantly, 7.5% of its residents five years old and above primarily speak African languages at home. While this may seem like a small percentage, it is higher than 99.4% of the neighborhoods in America.

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 Island Hill neighborhood in Malden are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 75.7% of the neighborhoods in America. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America'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 Island Hill neighborhood, 63.1% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 18.2% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (15.2%), and 10.4% 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 Island Hill neighborhood is English, spoken by 62.6% of households. Other important languages spoken here include Spanish, Chinese, African languages and Langs. of India.

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 Island Hill neighborhood in Malden, MA, residents most commonly identify their ethnicity or ancestry as Asian (19.2%). There are also a number of people of Irish ancestry (18.9%), and residents who report French Canadian roots (9.3%), and some of the residents are also of Puerto Rican ancestry (9.1%), along with some Russian ancestry residents (3.3%), among others. In addition, 26.6% 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 Island Hill neighborhood spend between 30 and 45 minutes commuting one-way to work (51.3% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (56.4%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (18.8%) and 14.4% 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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