Malden Center / City Center median real estate price is $666,084, which is more expensive than 48.4% of the neighborhoods in Massachusetts and 78.4% of the neighborhoods in the U.S.
The average rental price in Malden Center / City Center is currently $4,459, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 81.9% of the neighborhoods in Massachusetts.
Malden Center / City Center is a densely urban neighborhood (based on population density) located in Malden, Massachusetts.
Malden Center / City 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 Malden Center / City Center neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
Real estate vacancies in Malden Center / City Center are 3.6%, which is lower than one will find in 76.4% of American neighborhoods. Demand for real estate in Malden Center / City 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.
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 Malden Center / City Center neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.
In addition, some neighborhoods have residents that are more educated than others. But in this neighborhood there is a dramatic difference. NeighborhoodScout's exclusive analysis reveals that 35.1% of the adults here have earned a Masters degree, medical degree, Ph.D. or law degree. This is a higher rate of people with a graduate degree than is found in 95.0% of U.S. neighborhoods, where the average American neighborhood has 13.4% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.
Occupations
The Malden Center / City Center neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 99.3% of the neighborhoods in America. In fact, 81.3% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
Real Estate
The Malden Center / City Center neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 92.9% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
In addition, the real estate in the Malden Center / City Center neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 88.2% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 97.9% of American neighborhoods.
Furthermore, renter-occupied real estate is dominant in the Malden Center / City Center neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 93.0%, which is higher than 97.6% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.
Modes of Transportation
If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 31.1% of the Malden Center / City Center neighborhood's commuters ride the train to and from work each day, which is more than we found in 98.2% of America's neighborhoods.
Also, a unique way of commuting is simply not to. And in the Malden Center / City Center neighborhood, analysis shows that 32.7% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 98.1% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.
Car Ownership
Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the Malden Center / City Center neighborhood have a highly unusual car ownership. 26.1% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 96.6% of U.S. neighborhoods.
Diversity
Did you know that the Malden Center / City Center neighborhood has more Asian and Haitian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 58.2% of this neighborhood's residents have Asian ancestry and 5.3% have Haitian ancestry.
Malden Center / City Center is also pretty special linguistically. Significantly, 29.5% of its residents five years old and above primarily speak Chinese at home. While this may seem like a small percentage, it is higher than 99.6% of the neighborhoods in America.
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. What is interesting to note, is that the Malden Center / City Center neighborhood has a greater percentage of residents born in another country (60.8%) than are found in 99.3% 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 Malden Center / City Center neighborhood in Malden are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 50.1% 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.
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 Malden Center / City Center neighborhood, 81.3% 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 8.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (7.8%), and 2.8% in manufacturing and laborer occupations.
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 Malden Center / City Center neighborhood is English, spoken by 33.3% of households. Other important languages spoken here include Chinese, African languages, Langs. of India 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 Malden Center / City Center neighborhood in Malden, MA, residents most commonly identify their ethnicity or ancestry as Asian (58.2%). There are also a number of people of Italian ancestry (5.8%), and residents who report Haitian roots (5.3%), and some of the residents are also of Irish ancestry (3.8%), along with some Polish ancestry residents (1.7%), among others. In addition, 60.8% 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 Malden Center / City Center neighborhood spend between 45 minutes and one hour commuting one-way to work (33.8% of working residents), longer and tougher than most commutes in America.
Here most residents (31.1%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (23.0%) and 10.1% of residents also carpool with coworkers, friends, or neighbors for their daily commute. This neighborhood is distinguished by the high number of residents who take the train to work each day, which can be a very good way to get to work at a lower cost and with less pollution.
