Freshwater Cove Village / Magnolia median real estate price is $764,186, which is more expensive than 59.5% of the neighborhoods in Massachusetts and 83.2% of the neighborhoods in the U.S.
The average rental price in Freshwater Cove Village / Magnolia is currently $3,211, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 53.3% of Massachusetts neighborhoods.
Freshwater Cove Village / Magnolia is a rural neighborhood (based on population density) located in Gloucester, Massachusetts. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).
Freshwater Cove Village / Magnolia real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two 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 Freshwater Cove Village / Magnolia neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built before 1940.
In Freshwater Cove Village / Magnolia, the current vacancy rate is 1.6%, which is a lower rate of vacancies than 88.6% of all neighborhoods in the U.S. This means that the housing supply in Freshwater Cove Village / Magnolia 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 Gloucester, the Freshwater Cove Village / Magnolia neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Freshwater Cove Village / Magnolia 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, Freshwater Cove Village / Magnolia 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.
Of note is NeighborhoodScout's research finding that the Freshwater Cove Village / Magnolia neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Freshwater Cove Village / Magnolia community truly stands out from the rest in this regard.
In addition, if you are planning to retire in Massachusetts, this neighborhood should be on your must-see list. For many reasons, Freshwater Cove Village / Magnolia may be considered a retiree's dream neighborhood. According to NeighborhoodScout's exclusive analysis and metrics, it's peaceful and quiet, has above average safety from crime compared to other neighborhoods in Massachusetts, while also offering a diverse range of housing options. This, along with the vibrant mix of very educated seniors and other age groups who choose to live here, makes the neighborhood more retiree-friendly than 98.7% of neighborhoods in MA. If a Massachusetts retirement is in your future, this neighborhood should be one of the places you visit. In addition to being an excellent choice for active retirees, this neighborhood is also a very good choice for urban sophisticates.
Did you know that the Freshwater Cove Village / Magnolia neighborhood has more Portuguese and French Canadian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 6.4% of this neighborhood's residents have Portuguese ancestry and 5.5% have French Canadian ancestry.
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 Freshwater Cove Village / Magnolia neighborhood in Gloucester are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 83.5% of the neighborhoods in America. 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 Freshwater Cove Village / Magnolia neighborhood, 46.6% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 22.2% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (16.7%), and 14.5% in clerical, assistant, and tech support occupations.
The most common language spoken in the Freshwater Cove Village / Magnolia neighborhood is English, spoken by 91.6% of households.
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 Freshwater Cove Village / Magnolia neighborhood in Gloucester, MA, residents most commonly identify their ethnicity or ancestry as Irish (25.0%). There are also a number of people of Italian ancestry (16.6%), and residents who report English roots (10.3%), and some of the residents are also of German ancestry (6.9%), along with some Portuguese ancestry residents (6.4%), 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 Freshwater Cove Village / Magnolia neighborhood spend between 15 and 30 minutes commuting one-way to work (32.1% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (74.4%) 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 (6.4%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.