Area 2 MIT / Massachusetts Institute of Technology median real estate price is $1,619,996, which is more expensive than 92.9% of the neighborhoods in Massachusetts and 96.3% of the neighborhoods in the U.S.
The average rental price in Area 2 MIT / Massachusetts Institute of Technology is currently $5,975, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 98.1% of the neighborhoods in Massachusetts.
Area 2 MIT / Massachusetts Institute of Technology is a densely urban neighborhood (based on population density) located in Cambridge, Massachusetts.
Area 2 MIT / Massachusetts Institute of Technology 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 single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Area 2 MIT / Massachusetts Institute of Technology neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1940 and 1969.
Home and apartment vacancy rates are 6.6% in Area 2 MIT / Massachusetts Institute of Technology. NeighborhoodScout analysis shows that this rate is lower than 55.2% of the neighborhoods in the nation, approximately near the middle range for vacancies.
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 Cambridge, the Area 2 MIT / Massachusetts Institute of Technology neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 98.4% of the adults living in the Area 2 MIT / Massachusetts Institute of Technology neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 100.0% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
In addition, one of the really interesting characteristics about the Area 2 MIT / Massachusetts Institute of Technology neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 0.9% of college-friendly places to live in the state of Massachusetts.
In the Area 2 MIT / Massachusetts Institute of Technology neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 61.1% of residents here. This is a higher proportion of walking commuters than we found in 99.9% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Also, if your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 3.9% of residents in the Area 2 MIT / Massachusetts Institute of Technology neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 97.2% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.
The Area 2 MIT / Massachusetts Institute of Technology neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 99.4% of the neighborhoods in America. In fact, 82.7% 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.
Renter-occupied real estate is dominant in the Area 2 MIT / Massachusetts Institute of Technology neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 100.0%, which is higher than 99.3% 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.
In addition, one of the really unique and interesting things about the look and setting of the Area 2 MIT / Massachusetts Institute of Technology neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 95.9% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 99.2% of all neighborhoods in America.
Furthermore, the Area 2 MIT / Massachusetts Institute of Technology 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 94.3% 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.
We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the Area 2 MIT / Massachusetts Institute of Technology neighborhood has a highly unusual pattern of car ownership. 51.1% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.8% of U.S. neighborhoods.
Did you know that the Area 2 MIT / Massachusetts Institute of Technology neighborhood has more Asian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 38.7% of this neighborhood's residents have Asian ancestry.
Area 2 MIT / Massachusetts Institute of Technology is also pretty special linguistically. Significantly, 16.8% 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 99.0% of the neighborhoods in America.
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. In the Area 2 MIT / Massachusetts Institute of Technology neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 97.1% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
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 Area 2 MIT / Massachusetts Institute of Technology neighborhood in Cambridge are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 54.6% of the neighborhoods in America. With 24.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 75.8% of U.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 Area 2 MIT / Massachusetts Institute of Technology neighborhood, 82.7% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 8.2% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (7.9%).
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 Area 2 MIT / Massachusetts Institute of Technology neighborhood is English, spoken by 50.4% of households. Other important languages spoken here include Chinese, Spanish, Langs. of India and Korean.
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 Area 2 MIT / Massachusetts Institute of Technology neighborhood in Cambridge, MA, residents most commonly identify their ethnicity or ancestry as Asian (38.7%). There are also a number of people of German ancestry (3.5%), and residents who report Irish roots (3.4%), and some of the residents are also of Italian ancestry (3.1%), along with some South American ancestry residents (3.1%), among others. In addition, 29.8% 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 Area 2 MIT / Massachusetts Institute of Technology neighborhood spend under 15 minutes commuting one-way to work (48.3% of working residents), one of the shortest commutes across America.
Here most residents (61.1%) hop out the door and walk to work to get to work. In addition, quite a number also drive alone in a private automobile to get to work (6.1%) . This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.
