Memorial Boulevard / Old Beach median real estate price is $1,170,839, which is more expensive than 95.6% of the neighborhoods in Rhode Island and 92.1% of the neighborhoods in the U.S.
The average rental price in Memorial Boulevard / Old Beach is currently $3,490, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 94.0% of the neighborhoods in Rhode Island.
Memorial Boulevard / Old Beach is a suburban neighborhood (based on population density) located in Newport, Rhode Island. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).
Memorial Boulevard / Old Beach 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 Memorial Boulevard / Old Beach 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.
Vacant apartments or homes are a major fact of life in Memorial Boulevard / Old Beach. The current real estate vacancy rate here is 30.7%. This is higher than the rate of vacancies in 95.0% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (19.7%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.
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
Do you like a coastal setting? If so, this neighborhood may be to your liking. The Memorial Boulevard / Old Beach 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, Memorial Boulevard / Old Beach 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, 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 Memorial Boulevard / Old Beach 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, 36.7% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 96.4% of America's neighborhoods.
Furthermore, vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 30.7% of the residential real estate vacant, the Memorial Boulevard / Old Beach neighborhood claims the distinction of having a higher vacancy rate than 95.0% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.
People
An extraordinary 11.2% of the residents of the Memorial Boulevard / Old Beach neighborhood are currently enrolled in college. This is such a large part of life in this neighborhood that the neighborhood changes a great deal with the change of semesters and is far quieter during the summer when many students are away.
In addition, one of the most interesting things about the Memorial Boulevard / Old Beach neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 49.0% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 95.0% of the neighborhoods in America.
Also, if you are an executive or professional seeking a neighborhood affording an executive lifestyle, or just wanting to find where other executives live in the area, the Memorial Boulevard / Old Beach neighborhood should be on your list. It has an enviable mix of spacious homes, relatively stable real estate values, and residents that include a number of wealthy executives, managers, and professionals. NeighborhoodScout's exclusive analysis places it as one of the top 14.2% executive lifestyle neighborhoods in the state of Rhode Island.
Modes of Transportation
If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 2.6% of residents in the Memorial Boulevard / Old Beach neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 95.0% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.
Diversity
Did you know that the Memorial Boulevard / Old Beach neighborhood has more French and Greek ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 13.3% of this neighborhood's residents have French ancestry and 2.5% have Greek ancestry.
Memorial Boulevard / Old Beach is also pretty special linguistically. Significantly, 2.2% 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 97.8% 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 Memorial Boulevard / Old Beach neighborhood in Newport are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 60.4% of the neighborhoods in America. In addition, 4.2% 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 67.2% of America's neighborhoods.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the Memorial Boulevard / Old Beach neighborhood, 64.4% 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 15.4% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (13.2%), and 7.0% in manufacturing and laborer occupations.
Languages
The most common language spoken in the Memorial Boulevard / Old Beach neighborhood is English, spoken by 95.6% of households. Some people also speak Portuguese (2.2%).
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 Memorial Boulevard / Old Beach neighborhood in Newport, RI, residents most commonly identify their ethnicity or ancestry as Irish (24.3%). There are also a number of people of Italian ancestry (16.2%), and residents who report French roots (13.3%), and some of the residents are also of English ancestry (13.1%), along with some German ancestry residents (5.6%), among others.
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 Memorial Boulevard / Old Beach neighborhood spend under 15 minutes commuting one-way to work (42.4% of working residents), one of the shortest commutes across America.
Here most residents (49.6%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (8.6%) and 6.9% 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.
