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Real Estate Prices & Overview

Harbor Lower Thames / Downtown median real estate price is $905,381, which is more expensive than 93.6% of the neighborhoods in Rhode Island and 90.2% of the neighborhoods in the U.S.

The average rental price in Harbor Lower Thames / Downtown is currently $3,039, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 81.1% of the neighborhoods in Rhode Island.

Harbor Lower Thames / Downtown is an urban neighborhood (based on population density) located in Newport, Rhode Island. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).

Harbor Lower Thames / Downtown real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four 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 Harbor Lower Thames / Downtown 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 1970 and 1999.

Vacant apartments or homes are a major fact of life in Harbor Lower Thames / Downtown. The current real estate vacancy rate here is 28.8%. This is higher than the rate of vacancies in 94.1% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.

Notable & Unique Neighborhood Characteristics

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 Newport, the Harbor Lower Thames / Downtown neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

Do you like a coastal setting? If so, this neighborhood may be to your liking. The Harbor Lower Thames / Downtown 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, Harbor Lower Thames / Downtown 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, 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 Harbor Lower Thames / Downtown 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 39.2% of the real estate here is made up of such dwellings, which is higher than 96.9% 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 75.3% of the residential real estate in the Harbor Lower Thames / Downtown neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 99.3% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

People

Of note is NeighborhoodScout's research finding that the Harbor Lower Thames / Downtown neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Harbor Lower Thames / Downtown community truly stands out from the rest in this regard.

In addition, 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: 54.7%. This is a higher percent living alone than we found in 97.6% 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.

Occupations

The Harbor Lower Thames / Downtown neighborhood stands out nationally for having a greater proportion of its residents active in the military than 96.0% of other U.S. neighborhoods. If you come here, you will notice military people active in their jobs, going to and from work, and in plain clothes out and about the neighborhood.

Diversity

Did you know that the Harbor Lower Thames / Downtown neighborhood has more Swedish and French ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 6.7% of this neighborhood's residents have Swedish ancestry and 10.1% have French ancestry.

The Neighbors

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 Harbor Lower Thames / Downtown neighborhood in Newport are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 59.9% 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 Harbor Lower Thames / Downtown neighborhood, 53.3% 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 33.0% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (8.8%), and 4.8% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Harbor Lower Thames / Downtown neighborhood is English, spoken by 93.0% of households.

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 Harbor Lower Thames / Downtown neighborhood in Newport, RI, residents most commonly identify their ethnicity or ancestry as Irish (25.1%). There are also a number of people of Italian ancestry (12.1%), and residents who report English roots (12.0%), and some of the residents are also of French ancestry (10.1%), along with some German ancestry residents (8.9%), among others.

Getting to Work

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 Harbor Lower Thames / Downtown neighborhood spend under 15 minutes commuting one-way to work (35.8% of working residents), one of the shortest commutes across America.

Here most residents (55.6%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (8.4%) and 8.2% of residents also hop out the door and walk to work 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.


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