Peabody Town Center median real estate price is $522,697, which is less expensive than 73.6% of Massachusetts neighborhoods and 32.6% of all U.S. neighborhoods.
The average rental price in Peabody Town Center is currently $2,297, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 76.9% of Massachusetts neighborhoods.
Peabody Town Center is a densely urban neighborhood (based on population density) located in Peabody, Massachusetts.
Peabody Town Center real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Peabody Town Center 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 2000 and the present.
Real estate vacancies in Peabody Town Center are 3.9%, which is lower than one will find in 73.1% of American neighborhoods. Demand for real estate in Peabody Town Center 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.
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 neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Of note is NeighborhoodScout's research finding that the Peabody Town Center 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 Peabody Town Center community truly stands out from the rest in this regard.
In addition, divorcees may find friendship and understanding in this neighborhood, as 20.5% of its residents are divorced. NeighborhoodScout's exclusive analysis found that this divorce rate is higher than in 96.1% of the neighborhoods in America.
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 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, 32.3% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 95.4% of America's neighborhoods.
Did you know that the Peabody Town Center neighborhood has more Dominican and Brazilian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 22.0% of this neighborhood's residents have Dominican ancestry and 3.9% have Brazilian ancestry.
Peabody Town Center is also pretty special linguistically. Significantly, 25.7% 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 100.0% 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 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 41.8% 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 Peabody Town Center neighborhood, 33.0% 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 29.2% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (26.3%), and 11.6% in clerical, assistant, and tech support 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 neighborhood is English, spoken by 54.3% of households. Other important languages spoken here include Portuguese, Spanish and French.
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 Peabody Town Center neighborhood in Peabody, MA, residents most commonly identify their ethnicity or ancestry as Dominican (22.0%). There are also a number of people of Irish ancestry (16.0%), and residents who report Italian roots (11.3%), and some of the residents are also of Portuguese ancestry (5.4%), along with some Puerto Rican ancestry residents (4.8%), among others. In addition, 36.1% 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 Peabody Town Center neighborhood spend between 15 and 30 minutes commuting one-way to work (34.6% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (66.3%) 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 (18.1%) and 5.7% of residents also take the train 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.