Oak Island median real estate price is $510,582, which is less expensive than 74.9% of Massachusetts neighborhoods and 33.5% of all U.S. neighborhoods.
The average rental price in Oak Island is currently $3,127, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 49.3% of Massachusetts neighborhoods.
Oak Island is a densely urban neighborhood (based on population density) located in Revere, Massachusetts. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).
Oak Island 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 occupied by a mixture of owners and renters. Many of the residences in the Oak Island neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built before 1940.
In Oak Island, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Oak Island 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 Revere, the Oak Island neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Do you like a coastal setting? If so, this neighborhood may be to your liking. The Oak Island neighborhood is on the ocean, a bay, or inlet. Often such coastal places have amenities and recreational activities on the waterfront that are attractive to residents and visitors alike. In addition to being coastal, Oak Island 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.
In addition, with a real estate vacancy rate of only 0.0%, the Oak Island neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.
The types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 56.6%. This is a higher percent living alone than we found in 98.0% of all U.S. neighborhoods. Often residents who live alone are new arrivals to an area who are single, and often senior citizens who have lost a spouse.
If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 22.8% of the Oak Island neighborhood's commuters ride the train to and from work each day, which is more than we found in 97.7% of America's neighborhoods.
Did you know that the Oak Island neighborhood has more Arab and Russian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 17.3% of this neighborhood's residents have Arab ancestry and 7.9% have Russian ancestry.
Oak Island is also pretty special linguistically. Significantly, 7.6% 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 99.6% 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 Oak Island neighborhood in Revere are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 59.5% of the neighborhoods in America. With 38.7% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 88.6% of U.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 Oak Island neighborhood, 43.9% 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 26.8% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (18.4%), and 10.9% in manufacturing and laborer 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 Oak Island neighborhood is English, spoken by 60.1% of households. Other important languages spoken here include Spanish, Arabic, Portuguese and Russian.
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 Oak Island neighborhood in Revere, MA, residents most commonly identify their ethnicity or ancestry as Italian (27.5%). There are also a number of people of Arab ancestry (17.3%), and residents who report Irish roots (11.3%), and some of the residents are also of Russian ancestry (7.9%), along with some German ancestry residents (4.6%), among others. In addition, 28.0% 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 Oak Island neighborhood spend between 15 and 30 minutes commuting one-way to work (32.2% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (44.6%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (22.8%) and 14.4% of residents also carpool with coworkers, friends, or neighbors 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.