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Real Estate Prices & Overview

Old Spain median real estate price is $638,101, which is more expensive than 44.7% of the neighborhoods in Massachusetts and 76.3% of the neighborhoods in the U.S.

The average rental price in Old Spain is currently $3,633, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 61.7% of the neighborhoods in Massachusetts.

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

Old Spain real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four 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 Old Spain neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built before 1940.

Real estate vacancies in Old Spain are 5.3%, which is lower than one will find in 64.2% of American neighborhoods. Demand for real estate in Old Spain 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

Old Spain is a neighborhood that is on the ocean, a bay, or inlet. Many times, such places have amenities that bring locals and visitors to the waterfront for recreational activities or to check out the scenery. In some densely populated areas that are less financially well-off, the neighborhood waterfront can be relatively industrial and less open to recreation. In addition to being coastal, Old Spain 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.

Modes of Transportation

If you like to ride a ferry to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 3.6% of the Old Spain neighborhood's commuters ride a ferry to and from work each day, which is more than we found in 99.7% of America's neighborhoods.

Diversity

Did you know that the Old Spain neighborhood has more Irish and Lithuanian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 43.5% of this neighborhood's residents have Irish ancestry and 1.7% have Lithuanian ancestry.

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 Old Spain neighborhood in Weymouth are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 82.3% of the neighborhoods in America. In addition, 3.7% 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 68.9% 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 Old Spain neighborhood, 54.2% 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 23.8% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (14.5%), and 7.5% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Old Spain neighborhood is English, spoken by 88.3% of households. Some people also speak Arabic (2.1%).

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 Old Spain neighborhood in Weymouth, MA, residents most commonly identify their ethnicity or ancestry as Irish (43.5%). There are also a number of people of Italian ancestry (19.5%), and residents who report English roots (13.7%), and some of the residents are also of Dutch ancestry (4.4%), along with some Asian ancestry residents (4.2%), among others. In addition, 12.7% 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 Old Spain neighborhood spend between 15 and 30 minutes commuting one-way to work (32.5% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (78.2%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (6.6%) and 5.1% 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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