Broadway median real estate price is $652,870, which is more expensive than 42.0% of the neighborhoods in Massachusetts and 75.9% of the neighborhoods in the U.S.
The average rental price in Broadway is currently $3,073, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 55.8% of Massachusetts neighborhoods.
Broadway is a densely urban neighborhood (based on population density) located in Chelsea, Massachusetts.
Broadway 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 Broadway 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 Broadway are 3.3%, which is lower than one will find in 77.2% of American neighborhoods. Demand for real estate in Broadway 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 Chelsea, the Broadway neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
The Broadway neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 43,936 persons per square mile in the neighborhood, it is more packed with people than 98.1% of the nation's neighborhoods. Even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The Broadway neighborhood is among the top 5% of American neighborhoods in terms of walkability.
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 Broadway 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, 46.7% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 98.1% of America's neighborhoods.
Furthermore, 89.1% of the real estate in the Broadway neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
Also of note, do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The Broadway neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 61.1% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 96.9% of the neighborhoods in the United States.
More people ride the bus in this neighborhood each day to get to work than 97.3% of U.S. neighborhoods.
Whether by choice, divorce, or unplanned pregnancy, single moms may have the toughest job in the book. NeighborhoodScout's exclusive analysis reveals that the Broadway neighborhood has more single mother households than 96.8% of the neighborhoods in the U.S. Often high concentrations of single mother homes can be a strong indicator of family and social issues such as poverty, high rates of school dropouts, crime, and other societal problems.
Each year, fewer and fewer Americans make their living as farmers, foresters, or fishers. But the Broadway neighborhood truly stands out among U.S. neighborhoods. According to exclusive NeighborhoodScout analysis, this neighborhood has a greater proportion of farmers, foresters, or fishers than 95.8% of all American neighborhoods. This is truly a unique cultural characteristic of this neighborhood.
Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. What is interesting to note, is that the Broadway neighborhood has a greater percentage of residents born in another country (52.3%) than are found in 98.1% of all U.S. neighborhoods.
Did you know that the Broadway neighborhood has more Dominican and Puerto Rican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 6.8% of this neighborhood's residents have Dominican ancestry and 12.3% have Puerto Rican ancestry.
Broadway is also pretty special linguistically. Significantly, 1.7% of its residents five years old and above primarily speak Mon-Khmer, which is the dominant language of Cambodia, at home. While this may seem like a small percentage, it is higher than 99.3% of the neighborhoods in America.
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 Broadway neighborhood in Chelsea are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 60.1% of U.S. neighborhoods. With 35.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 86.5% of U.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 Broadway neighborhood, 35.4% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 26.2% of the residents employed. Other residents here are employed in executive, management, and professional occupations (23.8%), and 10.7% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the Broadway neighborhood is Spanish, spoken by 68.4% of households. Some people also speak English (25.1%).
Ethnicity / Ancestry
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 Broadway neighborhood in Chelsea, MA, residents most commonly identify their ethnicity or ancestry as Puerto Rican (12.3%). There are also a number of people of Dominican ancestry (6.8%), and residents who report Sub-Saharan African roots (4.2%), and some of the residents are also of Asian ancestry (3.6%), along with some German ancestry residents (2.0%), among others. In addition, 52.3% of the residents of this neighborhood were born in another country.
Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Broadway neighborhood spend between 30 and 45 minutes commuting one-way to work (29.4% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (44.8%) 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 (16.9%) and 14.3% of residents also ride the bus 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.
