Peabody Town Center South median real estate price is $553,555, which is more expensive than 33.2% of the neighborhoods in Massachusetts and 69.5% of the neighborhoods in the U.S.
The average rental price in Peabody Town Center South is currently $3,134, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 55.5% of Massachusetts neighborhoods.
Peabody Town Center South is a densely urban neighborhood (based on population density) located in Peabody, Massachusetts.
Peabody Town Center South real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Peabody Town Center South 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.
In Peabody Town Center South, the current vacancy rate is 2.4%, which is a lower rate of vacancies than 83.8% of all neighborhoods in the U.S. This means that the housing supply in Peabody Town Center South is very tight compared to the demand for property here.
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 Peabody, the Peabody Town Center South neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
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 Peabody Town Center South 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, 40.2% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 97.1% of America'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 Peabody Town Center South neighborhood is one of the most walkable neighborhoods in America.
Furthermore, do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The Peabody Town Center South neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 59.3% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 96.3% of the neighborhoods in the United States.
Our research shows that more people carpool to work here in the Peabody Town Center South (23.8%) than in 96.4% of the neighborhoods in America.
With a nice mix of college students, safety from crime, and decent walkability, the Peabody Town Center South neighborhood rates highly as a college student friendly place to live, and one that college students and their parents may want to consider. NeighborhoodScout's analysis shows that it rates more highly for a good place for college students to live than 87.5% of the neighborhoods in MA. This often also means that the area has certain amenities and services geared towards college students, from undergraduates to graduate students.
Did you know that the Peabody Town Center South neighborhood has more Brazilian and Dominican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 6.9% of this neighborhood's residents have Brazilian ancestry and 27.7% have Dominican ancestry.
Peabody Town Center South is also pretty special linguistically. Significantly, 9.5% 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.
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 Peabody Town Center South neighborhood in Peabody are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 44.7% of the neighborhoods in America. In addition, 9.3% 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 52.5% of America's neighborhoods.
A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.
In the Peabody Town Center South neighborhood, 33.0% 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 clerical, assistant, and tech support occupations, with 28.0% of the residents employed. Other residents here are employed in executive, management, and professional occupations (20.6%), and 18.4% in manufacturing and laborer occupations.
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 Peabody Town Center South neighborhood is English, spoken by 48.6% of households. Other important languages spoken here include Spanish, Portuguese and Greek.
Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.
In the Peabody Town Center South neighborhood in Peabody, MA, residents most commonly identify their ethnicity or ancestry as Dominican (27.7%). There are also a number of people of Irish ancestry (13.4%), and residents who report Italian roots (10.1%), and some of the residents are also of Puerto Rican ancestry (7.9%), along with some Portuguese ancestry residents (7.7%), among others. In addition, 32.2% of the residents of this neighborhood were born in another country.
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 Peabody Town Center South neighborhood spend between 15 and 30 minutes commuting one-way to work (47.4% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (65.5%) 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 (23.8%) and 5.2% 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.