Silver Lake North median real estate price is $453,282, which is more expensive than 48.2% of the neighborhoods in Rhode Island and 62.0% of the neighborhoods in the U.S.
The average rental price in Silver Lake North is currently $1,990, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 91.0% of Rhode Island neighborhoods.
Silver Lake North is a densely urban neighborhood (based on population density) located in Providence, Rhode Island.
Silver Lake North 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 Silver Lake North 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 Silver Lake North. The current real estate vacancy rate here is 23.4%. This is higher than the rate of vacancies in 90.5% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, 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.
People
In a nation where 1 out of every 4 children lives in poverty, the Silver Lake North neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.
In addition, one of the really interesting characteristics about the Silver Lake North neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 3.2% of college-friendly places to live in the state of Rhode Island.
Also, an extraordinary 10.9% of the residents of the Silver Lake North 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.
Finally, with more than 1.6% of residents living with a same sex partner, Silver Lake North is truly a neighborhood that stands out from the rest in this regard. In fact, exclusive analysis by NeighborhoodScout reveals that this neighborhood has a greater concentration of same sex couples than 95.0% of U.S. neighborhoods.
Real Estate
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 Silver Lake North 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, 62.1% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 99.3% 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 Silver Lake North 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 61.5% of the residential real estate in the Silver Lake North neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 96.9% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
Diversity
Did you know that the Silver Lake North neighborhood has more Dominican and Haitian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 36.8% of this neighborhood's residents have Dominican ancestry and 11.2% have Haitian ancestry.
Silver Lake North is also pretty special linguistically. Significantly, 76.5% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 98.2% of all U.S. neighborhoods.
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. More residents of the Silver Lake North neighborhood live here today that also were living in this same neighborhood five years ago than is found in 97.3% of U.S. neighborhoods. This neighborhood is really made up of people who know each other, don't move often, and have lived here in this very neighborhood for quite a while. What is interesting to note, is that the Silver Lake North neighborhood has a greater percentage of residents born in another country (54.1%) than are found in 98.5% of all U.S. neighborhoods.
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 Silver Lake North neighborhood in Providence are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 73.8% of U.S. neighborhoods. 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 Silver Lake North neighborhood, 39.8% of the working population is employed in manufacturing and laborer occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 23.4% of the residents employed. Other residents here are employed in executive, management, and professional occupations (19.1%), and 17.7% in sales and service jobs, from major sales accounts, to working in fast food restaurants.
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 Silver Lake North neighborhood is Spanish, spoken by 76.5% of households. Other important languages spoken here include English 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 Silver Lake North neighborhood in Providence, RI, residents most commonly identify their ethnicity or ancestry as Dominican (36.8%). There are also a number of people of Haitian ancestry (11.2%), and residents who report Puerto Rican roots (7.6%), and some of the residents are also of Asian ancestry (2.4%), along with some South American ancestry residents (2.1%), among others. In addition, 54.1% of the residents of this neighborhood were born in another country.
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 Silver Lake North neighborhood spend between 15 and 30 minutes commuting one-way to work (36.6% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (76.2%) 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 (12.5%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
