Elmwood median real estate price is $371,774, which is less expensive than 82.6% of Rhode Island neighborhoods and 51.6% of all U.S. neighborhoods.
The average rental price in Elmwood is currently $1,968, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 86.7% of Rhode Island neighborhoods.
Elmwood is a densely urban neighborhood (based on population density) located in Providence, Rhode Island.
Elmwood real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) small apartment buildings and apartment complexes/high-rise apartments. Most of the residential real estate is renter occupied. Many of the residences in the Elmwood 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 1940 and 1969.
Real estate vacancies in Elmwood are 3.5%, which is lower than one will find in 74.7% of American neighborhoods. Demand for real estate in Elmwood 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.
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
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 Elmwood neighborhood is among the top 5% of American neighborhoods in terms of walkability.
In addition, corner bodegas, stores on the first floor and apartments above, former grand Victorian residences converted into apartments, three-deckers built shoulder-to-shoulder, duplexes. Such building types define the real estate of neighborhoods dominated by small 2, 3, and 4 unit apartment buildings. Many are in older core neighborhoods of Eastern and Midwestern cities, or historic town centers in their hinterlands. If you wax romantic about the look and feel of such neighborhoods, with fresh pizza, falafel and an independent florist at the corner, then you might find the Elmwood neighborhood worth a close look. This neighborhood is an absolutely outstanding example of the dominance of small 2, 3, and 4 unit apartment buildings compared to neighborhoods across the nation, as they make up a substantial portion of this neighborhood's real estate stock. In fact, no less than 41.0% of the real estate here is made up of such dwellings, which is higher than 97.4% of all U.S. neighborhoods.
Furthermore, if you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 73.9% of the residential real estate in the Elmwood neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 99.1% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
Would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the Elmwood neighborhood is a fantastic option for bicycle commuters, as 3.8% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 97.1% of the neighborhoods in America.
Did you know that the Elmwood neighborhood has more Dominican and Portuguese ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 64.4% of this neighborhood's residents have Dominican ancestry and 1.8% have Portuguese ancestry.
Elmwood is also pretty special linguistically. Significantly, 73.4% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 97.9% of all U.S. neighborhoods.
Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Elmwood neighborhood. What is interesting to note, is that the Elmwood neighborhood has a greater percentage of residents born in another country (51.0%) than are found in 97.7% of all U.S. neighborhoods.
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 Elmwood neighborhood in Providence are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 86.1% of U.S. neighborhoods. With 19.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 68.6% 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 Elmwood neighborhood, 39.4% of the working population is employed in manufacturing and laborer occupations. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 21.6% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (21.4%), and 17.5% 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 Elmwood neighborhood is Spanish, spoken by 73.4% of households. Other important languages spoken here include English and Portuguese.
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 Elmwood neighborhood in Providence, RI, residents most commonly identify their ethnicity or ancestry as Dominican (64.4%). There are also a number of people of Puerto Rican ancestry (4.4%), and residents who report Sub-Saharan African roots (3.3%), and some of the residents are also of South American ancestry (2.6%), along with some African ancestry residents (2.0%), among others. In addition, 51.0% 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 Elmwood neighborhood spend between 15 and 30 minutes commuting one-way to work (64.1% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (78.2%) 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 (11.4%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.