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Real Estate Prices & Overview

Suffolk Square / Faulkner median real estate price is $682,389, which is more expensive than 49.1% of the neighborhoods in Massachusetts and 78.0% of the neighborhoods in the U.S.

The average rental price in Suffolk Square / Faulkner is currently $3,810, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 67.5% of the neighborhoods in Massachusetts.

Suffolk Square / Faulkner is a densely urban neighborhood (based on population density) located in Malden, Massachusetts.

Suffolk Square / Faulkner 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 occupied by a mixture of owners and renters. Many of the residences in the Suffolk Square / Faulkner 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.

Real estate vacancies in Suffolk Square / Faulkner are 5.1%, which is lower than one will find in 65.7% of American neighborhoods. Demand for real estate in Suffolk Square / Faulkner 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

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

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 Suffolk Square / Faulkner 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 52.3% of the real estate here is made up of such dwellings, which is higher than 98.6% of all U.S. neighborhoods.

In addition, 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 Suffolk Square / Faulkner neighborhood is among the top 5% of American neighborhoods in terms of walkability.

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 65.5% of the residential real estate in the Suffolk Square / Faulkner neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 97.7% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

Modes of Transportation

In the Suffolk Square / Faulkner neighborhood, 12.6% 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 95.9% of the neighborhoods in America.

Diversity

Did you know that the Suffolk Square / Faulkner neighborhood has more Haitian and Brazilian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 16.5% of this neighborhood's residents have Haitian ancestry and 3.5% have Brazilian ancestry.

Suffolk Square / Faulkner is also pretty special linguistically. Significantly, 9.2% 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 99.7% 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 Suffolk Square / Faulkner neighborhood has a greater percentage of residents born in another country (46.3%) than are found in 96.6% 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 Suffolk Square / Faulkner neighborhood in Malden are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 76.7% of U.S. neighborhoods. With 37.9% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 87.7% 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 Suffolk Square / Faulkner neighborhood, 26.6% 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 26.1% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (25.3%), and 22.0% 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 Suffolk Square / Faulkner neighborhood is English, spoken by 42.3% of households. Other important languages spoken here include Spanish, Chinese, Portuguese and French.

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 Suffolk Square / Faulkner neighborhood in Malden, MA, residents most commonly identify their ethnicity or ancestry as Asian (22.9%). There are also a number of people of Haitian ancestry (16.5%), and residents who report Italian roots (7.8%), and some of the residents are also of Irish ancestry (6.1%), along with some Brazilian ancestry residents (3.5%), among others. In addition, 46.3% 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 Suffolk Square / Faulkner neighborhood spend between 45 minutes and one hour commuting one-way to work (31.4% of working residents), longer and tougher than most commutes in America.

Here most residents (51.0%) 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 (14.5%) and 12.6% of residents also take the train 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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