Broadway median real estate price is $642,863, which is more expensive than 42.0% of the neighborhoods in Massachusetts and 75.8% of the neighborhoods in the U.S.
The average rental price in Broadway is currently $3,059, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 56.0% 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.
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.
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. Being a walkable neighborhood can help increase property values for the simple reason that people enjoy it and value it. To put it plainly, despite our love affair with the automobile, American's enjoy taking to the streets, sidewalks, paths, and courtyards of a place to get a coffee, relax, and take in the sights and sounds. And, according to NeighborhoodScout's exclusive and first quantitative walkable score index, the Broadway neighborhood is one of the most walkable neighborhoods in America.
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 Broadway 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 46.7% of the real estate here is made up of such dwellings, which is higher than 98.1% of all U.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, 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 61.1% of the residential real estate in the Broadway neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 96.9% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
Our research revealed that more commuters here take the bus to work (14.3% ride the bus) than 97.3% of all American neighborhoods. If you like the idea of leaving your car and home and hopping the bus to work, this might be a good neighborhood for you to consider.
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.
It used to be that most Americans lived on the farm, or otherwise made their living from the land, the forests, or the sea. With global trade and an economy increasingly based on providing services to one another, fewer people farm, fish or harvest timber now than at any time in American history. But according to NeighborhoodScout's leading analysis, the Broadway neighborhood stands apart from most American neighborhood due to the proportion of its residents still working in these fields. With 3.9% of the workforce so employed, this neighborhood has a greater concentration of such workers than 95.8% of U.S. neighborhoods.
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 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.
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 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.
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 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
Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.
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.
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 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.
